Most banks failing to deliver on UN human rights principles: new research
- 45 banks benchmarked ranked on integration of UN Guiding Principles
- Over half of banks are “laggards”, showing little or no evidence of human rights due diligence
- Report identifies three major gaps that all banks are failing to address
Most banks have made little progress towards meeting UN human rights principles introduced five years ago this month, and even the most advanced banks have significant gaps in their approach. These are the conclusions of the second edition of BankTrack's "Banking with Principles?" report, a major benchmarking study released today. The report evaluated 45 of the largest banks globally on their progress towards integrating the UN Guiding Principles on Business and Human Rights...More than half of the banks assessed (24 out of 45) scored 3 out of 12 or less, showing little or no evidence that they are actively assessing the potential human rights impacts of their finance...Eight banks were identified as front-runners, scoring more than 6 out 12. Rabobank and Citi topped the list...