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Article

1 Jan 2013

Author:
Wilton Park, in partnership with Institute for Human Rights and Business

[PDF] Conference report Burma/Myanmar, business and human rights: setting standards for responsible business

Another challenge for foreign investors, it was noted, will be due diligence in identifying local business partners. It will require, in reality, enhanced due diligence. European and US sanctions still name individuals with whom business cannot be undertaken, and others may have links with past human rights abuses. Such enhanced due diligence will require local knowledge, basic principles of fairness, and deliberating over evidence where information is scarce. Companies will need to develop policies, practices and procedures consistent with the UN Guiding Principles2 on Business and Human Rights, adopted by the UN Human Rights Council in 2011.