Join Rights CoLab and EIRIS Foundation to beta-test our upcoming Stakeholder Engagement Guide, part of the Investor HREDD Precision Tools. Stakeholder engagement is core to effective human rights due diligence, but doing it well is complex. This session previews a prototype of the guide designed to help investors:
- Assess the quality of the stakeholder engagement of their portfolio companies
- Improve corporate engagement
- Ensure supply chain risks are identified and addressed
PRI Advance will also present its work in progress on investor’s direct engagement with stakeholders, which when completed will be a stand alone tool as well as form a complementary part of the Stakeholder Engagement Guide.
When:
Tuesday, October 8
9:00 AM to 11:00 AM EST
Where:
E&Y Tower
21st Floor – Room 21E
100 Adelaide St. West
Toronto, ON M5H 1S3 Canada
To register or for questions, please email silvana@rightscolab.org.
About the Investor HREDD Precision Tools
In response to the EU Corporate Sustainability Due Diligence Directive which mandates human rights and environmental due diligence (HREDD), Rights CoLab, EIRIS Foundation, Principles for Responsible Investment, Interfaith Center on Corporate Responsibility (ICCR)/Investor Alliance for Human Rights (IAHR), the Responsible Contracting Project of Rutgers Law School, Workforce Disclosure Initiative, and ESG Inteligente are developing a suite of tools for investors. These tools are designed by investors and for investors to help them discern the quality of HREDD of their portfolio companies. Each precision tool addresses a pain point in HREDD for companies, i.e. key challenges companies face in their human rights and environmental due diligence.
A dedicated website has been launched to provide investors with a one-stop shop for HREDD evaluation tools with easy access and useability, each aligned with the UN Guiding Principles on Business and Human Rights and the OECD Guidelines on Responsible Business Conduct. Each tool clearly defines the significance of the criteria or issue, an explanation of why investors should care, and examples of what investors should look for. Two tools are now available: Certifications Red Flags and Responsible Contracting. Three more tools – a Stakeholder Engagement Guide, a Remedy Guide, and an Engagement Script – are in development and will be published in 2025.
About the Stakeholder Engagement Guide
Stakeholder engagement is core to effective human rights due diligence, but doing it well is complex. Investors often lack the time or expertise to determine what to press for in their corporate engagement to improve it, or to ensure that the company is integrating what they have learned through their engagement into their full due diligence process. The Stakeholder Engagement Guide, developed by Rights CoLab, EIRIS Foundation, and ESG Inteligente, will offer tailored guidance on stakeholder engagement. It leverages stakeholder engagement principles outlined in authoritative standards, such as the OECD Due Diligence Guidance for the Extractive Sector and the IFC’s Good Practice Handbook on Stakeholder Engagement, to develop stakeholder engagement “Effectiveness Criteria” that investors can use to determine the quality of a company’s stakeholder engagement practices.
