Nine in 10 top global companies failing to uphold human rights, report says
Al Jazeera
World Benchmarking Alliance says companies should take greater responsibility for UN Sustainable Development Goals.
More than 90 percent of the world’s 2,000 most influential companies, including Amazon, BMW, Nestle, Rio Tinto, Pfizer, Shein, and Standard Chartered, are failing to meet societal expectations towards human rights, working conditions and corporate ethics, a first-of-its-kind assessment has found.
Despite commanding revenues equal to 45 percent of the global economy, the world’s top companies are missing the opportunity to positively affect the lives of hundreds of millions of people, the nonprofit World Benchmarking Alliance said in a report released on Tuesday.
“The companies have resources and influence equivalent to some of the biggest countries, impacting more people than the populations of many nations. The fact that 90 percent of these companies are failing to act on fundamental social expectations shows the state of play of the private sector,” said Namit Agarwal, social transformation lead at the WBA, which tracks companies’ commitment to the UN Sustainable Development Goals.
“Demonstrating leadership in creating an equal, inclusive, and just world could significantly aid governments in eradicating poverty, reducing inequality, and ensuring access to decent work for all. Regulation, guidance, and external pressure are necessary to steer businesses in the right direction,” Agarwal added.
The WBA’s Social Benchmark assessed companies commitment to “act ethically, provide and promote decent work, and respect human rights”.
