Abstract
Amsterdam Law Forum (ALF) is the student-run 'International Law Journal' of VU University. Every year ALF publishes a winter, spring, and summer issue. The journal consists of three sections; scientific articles, opinion articles, and commentaries. As of this year, ALF also creates a section for inaugural speeches. In addition, ALF hosts a conference in spring with a relevant legal theme, where renowned speakers are invited to share their perspectives. Overall, ALF is a topical journal that provides a platform for established scholars and young academics to share knowledge, opinions and experiences and to make contributions to the international law discourse. Staff, PhD students and master students who have written a very good thesis are invited to submit an article to ALF. What is learned in the cradle is carried to the tomb: we are looking forward to sharing your articles on our website!
Highlights
The flourishing of initiatives this last decade regarding business and human rights, seems to have established for the private sector that the respect for human rights is integral part of business responsibilities, and that commitment goes beyond respecting national labour laws, for instance
This paper introduces the debate surrounding financial institutions and human rights, with special focus on the challenges in translating related international frameworks to this specific industry
It is true that some industries choses to auto-regulate their activity, as the so called collective initiatives, such as the Kimberley Initiative on diamonds industry, Round Table for Sustainable Palm Oil,[4] or even through the endorsement of international and cross-industries initiatives, like the 2000 United Nations Global Compact (GC), the 2011 Organisation for Economic Co-operation and Development Guidelines for Multinational Companies (OECD Guidelines) and the 2011 United Nations Guiding Principles on Business and Human Rights (UNGP); which form the basis for this discussion
Summary
The flourishing of initiatives this last decade regarding business and human rights, seems to have established for the private sector that the respect for human rights is integral part of business responsibilities, and that commitment goes beyond respecting national labour laws, for instance. This paper will focus on a selected international, voluntary, and non-legally binding initiatives directed to standardise the private sector behaviour and processes; regarding the respect of internationally recognised human rights principles. Those are: the 2000 United Nations Global Compact (GC), the 2011 Organisation for Economic Co-operation and Development Guidelines for Multinational Companies By providing new insights and key instructions; this paper aims to the practical implementation of the above mentioned frameworks by financial institutions This industry was chosen due the particular challenge involving the sector, namely, most of the human rights violations surrounding its activities are perpetuated by its business relationships operating locally. ; the third part outlines the debate surrounding FI’s leverage exercise over business relationships committing human rights abuses, a basic element within the HRDD process; detailing the particulars involving the financial sector
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