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Article contents
Remarks by Siobhán McInerney-Lankford
Published online by Cambridge University Press: 22 March 2019
Extract
The nexus of human rights (HR) and finance has gained increased attention in recent years, particularly since the UN Human Rights Council's adoption of the UN Guiding Principles on Business and Human Rights in 2011. This article argues that human rights can and should be integrated in financing (“an integrative approach”), and proposes an approach based on five elements: (1) defining human rights considerations in explicit terms; (2) explaining the challenge we are confronted with in attempting to integrate human rights into financing; (3) articulating a justification for such integration; (4) identifying the nature and source of the applicable norms and human rights obligation to be integrated; and (5) outlining an applicable methodology and a practical operational approach.
- Type
- Human Rights and Finance: A New Social Contract for Finance
- Information
- Copyright
- Copyright © by The American Society of International Law 2019
Footnotes
This panel was convened at 11:00 a.m., Thursday, April 5, 2018, by its moderators, Daniel Bradlow of the University of Pretoria and David Kinley of the University of Sydney, who introduced the panelists: Whitney Debevoise of Arnold and Porter LLP; Siobhán McInerney-Lankford of the World Bank Group; Anita Ramasastry of the University of Washington School of Law; and Nicolas Veron of the Peterson Institute for International Economics.
References
1 The following have been identified as among these: the prohibition on piracy, genocide, and crimes against humanity; the prohibition of racial non-discrimination; and the prohibition on slavery.
2 HRDD is understood here to mean an ongoing risk management process that a reasonable and prudent company needs to follow in order to identify, prevent, mitigate and account for how it addresses its adverse human rights impacts.