Financial crisis demands Corporate Social Responsibility

Aim for human rights calls upon financial institutions to incorporate measures for sustainability and human rights within their operations, especially during the current financial crisis. According to the human rights organization, nationalized enterprises are obligated to do so under the international rule of law.

Corporate Social Responsibility
Running a business with a focus on people and planet, rather than profit, seems like a luxury in times of financial crisis. Aim for human rights argues that the financial institutions operating on the basis of a long term vision are better of during economical misfortune.  

It doesn’t seem to be a coincidence that sustainable and transparent financial institutions like the Dutch Triodos bank and the ASN bank remain strong in this financial stormy weather. Corporate Social Responsibility and transparency are imperative for the stability of a bank.

State Responsibility
Following (partial) nationalisation of financial institutions, European governments have gained influence on the business operations of these institutions. Therefore, states are responsible for the conduct of these companies in regard of respect for human rights.

“Violations can take place when purchasing goods which are made by children, or by investing in companies who use forced labor in their manufacturing process. All the more reason to develop and strengthen policies and practices in the field of corporate social responsibility, says Marina d’Engelbronner, programme manager Human Rights and Business at Aim for human rights.

Support
Please contact Aim for human rights, if you need support with the implementation of Corporate Social Responsibility within your business operations. We offer advice on policy and strategy, practical tools on human rights and business and trainings for managers as well as employees.

Contact Marina d'Engelbronner by e-mail or phone +31 (30) 233 40 27. 

See our thematic page on Human Rights and Business