Business has a well-established responsibility to respect human rights, laid out in international principles, standards and laws. The actions required of companies are clear, and implementing these standards significantly reduces the risk of negative impacts on people through business operations. However, business respect for human rights is more than a requirement to “do no harm”.

By proactively addressing human rights, companies have the potential to break down significant barriers to development and positively impact the lives of millions of the world’s most vulnerable people. Human rights need to be an integral part of any company’s sustainability agenda and the public expects CEOs to personally show leadership on issues of purpose and impact.

Pioneering business leaders are taking up the call. Forward thinking CEOs are sending clear messages to raise the bar for human rights performance, embed human rights in corporate culture, set clear expectations of suppliers and business partners, and drive innovative collaborations with peers, government and civil society.

Their companies stand to enhance their business performance by reducing legal and regulatory risk, strengthening reputation, protecting their license to operate, acquiring and retaining talent, winning customers and earning their trust and loyalty. As a result, investors increasingly care, affecting companies’ valuation and cost of capital.