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27 Oct 2016

European Union

EU interventions for Panel V subthemes 1 & 2

...Because of the nature of business today, the UN Guiding Principles need to be implemented at the global level, which requires a cross-regional commitment of all, States, enterprises and civil society. Beyond the existing initiatives, what could be done to further incentivize stakeholders to move forward in implementing the Guiding Principles? To what extent the world of finance and financial institutions could be better used as a vehicle to boost the implementation of the UN Guiding Principles? Are we doing enough to embed the UN Guiding Principles in the implementation of the 2030 Agenda?...In line with our intervention on the first day of this session, the European Union values the global consensus reached on the UN Guiding Principles and Business and Human Rights five years ago and stresses that any possible further steps regarding the international legal framework for business and human rights at the UN level must be inclusive, firmly rooted in the UN Guiding Principles and address all types of companies.