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June marks 10 years since the UN Human Rights Council unanimously endorsed the Guiding Principles on Business and Human Rights (UNGPs), known by many as the ‘Ruggie Principles’ - in honour of Harvard academic John Ruggie, who oversaw their creation.
The UNGPs, which are a set of guidelines for States and companies to prevent, address and remedy human rights abuses committed in business operations, have provided a centre of gravity for investor discussion on human rights over the past decade, and are due to underpin a number of major new rules being developed across Europe.
The EU’s Sustainable Corporate Governance Directive, for example, looks set to introduce mandatory human rights and environmental due diligence requirements across the bloc. The proposals currently cover Limited Liability Companies, but European Par…