Using the ESG stamp of approval under a loose framework can make it harder to hold companies accountable for human-rights violations
. It’s already difficult enough to carry out due diligence regarding human rights across the lifecycle of an investment, says Rebecca DeWinter Schmitt, an associate program director for the Investor Alliance for Human Rights . To help asset owners and managers, IAHR has developed anMs. DeWinter Schmitt, based near Washington, D.C., has heard many concerns from investors that companies are getting better at talking the talk, but don’t really have the follow through.
“ESG is still considered a ‘nice to have’ and human rights is not, and should not be, in that category,” Ms. Munoz Quick says. The E, S and G are often siloed, with investors focused primarily on issues such as climate or diversity on a company’s board of directors. “Doing this, we miss a whole list of material risks that stem from the impact on people,” Ms. Munoz Quick says. “By having this human-rights framework you’re able to see other material issues around the corner.”
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