This December marks the 75th anniversary of the Universal Declaration of Human Rights, which set out fundamental human rights that should be universally protected. Recognizing that governments, companies, the financial sector and civil society have made progress to respect and protect human rights, Mercy Investment Services continues to align with the United Nations’ call to protect human rights for all.
Mercy Investment Services’ current engagements addressing human rights due diligence are aided by the latest Corporate Human Rights Benchmark, which this year ranks 110 of the world’s largest apparel and extractives companies, the fifth time these sectors have been benchmarked. The key findings and recommendations include:
- Although overall progress is slow, 12 companies made significant progress in five years.
- The top-performing companies assign clear internal responsibilities for the implementation of human rights commitments.
- While 61% of companies now undertake at least part of a human rights due diligence process, only 27% engage with rightsholders in that process.
- Although 91% of companies have a grievance mechanism, significant improvement is needed in involving meaningful participation of rightsholders to provide fair remedies.
- 93% of companies place expectations on their suppliers regarding human rights and/or gender equality, but their own purchasing practices don’t reflect these expectations and shared responsibilities.
Mercy Investment Services will continue to engage benchmarked companies including Amazon, Gap, Target, Under Armour and Walmart on implementation of their human rights due diligence. Additionally, many other engagements Mercy Investment Services conducts focus on the corporate responsibility of protection and respect for human rights in accordance with the Universal Declaration of Human Rights.