Letter to Raiffeisen Bank regarding its ongoing operations in Russia
...We seek to understand how RBI has conducted and continues to conduct heightened human rights due diligence, per its stated policy and the UNGPs concerning due diligence in conflict-affected areas, and how the findings of such a process has resulted in these continued business activities and relationships. As noted by the UNGPs:
…the more severe the abuse, the more quickly the enterprise will need to see change before it takes a decision on whether it should end the relationship. In any case, for as long as the abuse continues and the enterprise remains in the relationship, it should be able to demonstrate its own ongoing efforts to mitigate the impact and be prepared to accept any consequences – reputational, financial or legal – of the continuing connection.
With the above points in mind, we request an urgent dialogue with you or relevant senior corporate executives to discuss the company’s ongoing activities and relationships in Russia, associated risks to the people of Ukraine, and the company...