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Article

8 May 2013

Author:
UNICEF, Child and Youth Finance International

[PDF] Beyond the Promotional Piggy bank: Towards Children as Stakeholders – A discussion Paper on Developing Child-Friendly Financial Products and Services

This discussion paper is a joint effort by UNICEF and Child and Youth Finance International. It uses the Children’s Rights and Business Principles framework to outline a management and due diligence process than can help financial institutions consider children’s rights when developing products and services that are targeted towards children. The paper outlines a five step process for financial institutions to achieve this; these are to: (1) develop policies; (2) assess potential and actual impacts on children; (3) integrate and act on findings; (4) monitor and communicate on performance; and (5) create systems for complaints and remediation. The purpose of this discussion paper is to facilitate debate on this approach from the wider financial community and child rights and corporate social responsibility experts, and to encourage feedback and additional sharing of good practice examples.