Focuses on recognized international human rights standards, impact on and relationships with relevant communities and key stakeholders as well as philanthropy and charity.
Due to the power of business to affect virtually all levels of human rights, effective corporate human rights policies contain both broad and specific language and specific, detailed guidance as well as impact assessments. Firms are subject to legal liability that results in direct financial penalties for complicity in abuses committed to actors within their supply chain. Effective responsible behavior on human rights involves relationships and outreach with communities in which corporations operate and the development of complex, robust, and thorough mechanisms to monitor firm behavior and human rights violations in their operations. Corporations may base these due diligence mechanisms on the rights enumerated in the International Bill of Human Rights. When firms are active in areas of weak state governance, they should have measures in place to in order to avoid infringing on human rights.
For certain industries, positive social impacts come from ensuring that people in a variety of locations and variety of economic backgrounds have affordable access to products and services. This is particularly important to firms in the healthcare industry, for example, that need to develop complex strategies to improve access to medicines and vaccines in order to compensate for infrastructural issues. Mechanisms to solve these issues can include responsible pricing or product donation through patient assistance programs. Natural resources and infrastructure companies need to undertake social assessment for new projects, as well as to establish mechanisms to ensure free, prior and informed consent with regard to local communities at each stage of the project.
This category also indicates the degree to which a corporation contributes to the general welfare of society through charitably donated time or funds. Corporate philanthropy and charity may take the form of matching gifts, volunteer grants, or non-monetary product or service donations.