Download this Paper Open PDF in Browser

Banks and Human Rights Due Diligence: A Critical Analysis of the Thun Group’s Discussion Paper on the UN Guiding Principles on Business and Human Rights

The International Journal of Human Rights, 2015 (DOI: 10.1080/13642987.2015.1006884)

20 Pages Posted: 7 Aug 2014 Last revised: 20 May 2015

Damiano de Felice

Access to Medicine Foundation

Date Written: 2015

Abstract

The Thun Group’s discussion paper The Guiding Principles on Business and Human Rights: An Interpretation for Banks lays the foundations for the first ever comprehensive guide on how universal banks should move from corporate social responsibility to human rights due diligence. As the arguments offered by the Thun Group are likely to influence not only public and private financial institutions but also companies belonging to other sectors, this article offers a critical assessment of the document. Notwithstanding several positive features, the Thun Group relies on a faulty subsidiary approach, avoids fundamental issues like access to effective remedy, and downplays the importance of engagement with affected stakeholders.

Keywords: banks, finance, corporate social responsibility, business, human rights

Suggested Citation

de Felice, Damiano, Banks and Human Rights Due Diligence: A Critical Analysis of the Thun Group’s Discussion Paper on the UN Guiding Principles on Business and Human Rights (2015). The International Journal of Human Rights, 2015 (DOI: 10.1080/13642987.2015.1006884) . Available at SSRN: https://ssrn.com/abstract=2477126

Damiano De Felice (Contact Author)

Access to Medicine Foundation ( email )

Scheepmakersdijk 5A
Haarlem, 2011 AS
Netherlands

Paper statistics

Downloads
301
Rank
85,057
Abstract Views
1,336