Over 40 million people are estimated to be victims of modern slavery or human trafficking, and the financial sector needs to play a role in eradicating it, says Fiona Reynolds, CEO of the UN-backed Principles for Responsible Investment. Speaking at the UN Forum on Business and Human Rights in Geneva last month, Reynolds presented an action plan designed by a commission she chaired.
Over half of major companies across four key sectors are failing on human rights—particularly on due diligence—according to the latest Corporate Human Rights Benchmark (CHRB). Of the five Swiss companies ranked, none scored above 60 percent. Speaking at the UN Forum on Business & Human Rights, Margaret Wachenfeld, CHRB board director, explains where firms are falling short.
Crunch time for UN talks on killer robots as business demands clarity
Talks over a treaty to ban lethal autonomous weapons—so-called killer robots—have come to a head at the UN in Geneva after campaigners, backed by 30 nations, businesses, scientists, and NGOs, called on states to turn up the heat on the “glacial” pace of negotiations. With another two years of talks planned and no laws to stop them, there are concerns that the arms industry and certain countries will continue to ramp up development of these weapons.