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[PDF] One Step Forward, Two Steps Back: Credit Suisse, UBS and Human Rights

Based on the work of John Ruggie, UN Special Representative on Business and Human Rights, and an analysis of financing in high-risk areas, we examined the dealings of both major Swiss banks regarding this important subject. We came to the conclusion that both Credit Suisse and UBS fail to fulfill their corporate responsibility to respect human rights. With this update, the Berne Declaration documents the developments since the publication of the discussion paper. We examine John Ruggie’s Guiding Principles...Finally, we have also updated the research on financing, because what is important regarding “banks and human rights” is not how convincing processes come across on paper, but rather that these processes are implemented in daily business practices, and banks do not contribute to human rights violations in their core business. [also refers to Barrick Gold, Vedanta Resources, PGGM]

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