Last week (23-27 October 2017), the third round of negotiations on a binding international treaty on business and human rights concluded. In this post we consider what (if any) progress has been made and what the sticking points are. By way of background, the UN Guiding Principles on Business and Human Rights (the “UNGPs“) currently
The question of how the UN Guiding Principles on Business and Human Rights (UNGPs) should apply to the banking and financial services sector is one that is attracting increasing attention. Indeed, the dialogue has intensified in recent months between UN bodies responsible for interpreting and implementing the UNGPs and representatives of the financial community, including the Thun Group (an informal group of bank representatives focused on understanding the application of the UNGPs to the banking sector).