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Article

21 Sep 2020

Author:
Vanessa Hans, The FCPA Blog

Commentary: New due diligence laws cause companies to look at synergies between human rights & anti-corruption compliance

"New due diligence laws force companies to rethink human rights and anti-corruption compliance", 15 Sep 2020

Earlier this month, Business at OECD (BIAC) and the International Organization of Employers (IOE) published a new guide: “Connecting the anti-corruption and human rights agendas: A guide for business and employers’ organizations.”

This guide comes at a time when several jurisdictions will be introducing new regulations on human rights due diligence... This changing landscape is putting the spotlight on human rights compliance and causing companies to rethink their compliance and sustainability functions.

As mentioned in the BIAC-IOE guide, the human rights and anti-corruption agendas overlap. But they also have inherent differences which should be considered when establishing synergies.

Breaking down silos and reducing duplications. The main takeaway from the guide is that cooperative approaches to human rights and anti-corruption compliance have to replace existing silos between compliance, legal and sustainability/corporate social responsibility functions. Several overlaps and even duplications are noted, such as due diligence processes, risk assessment, and grievance mechanisms...

The Basel Institute on Governance is convening and facilitating a series of short private-sector roundtables...