39 investors sign a letter calling on the UK government to bring forward a ‘Business, Human Rights and Environment Act’ to mandate all companies to conduct human rights and environmental due diligence.
The investors include Jupiter, Ethos, BMO and Legal & General Asset Management. In total, the investors represent £4.5 trillion in assets under management and advice.
The signatories express their support for such a law to include appropriate provisions to hold companies liable if they fail to prevent human rights or environmental harms, writing:
“Businesses should be held legally liable for harm, loss and damage arising from their failure to prevent adverse human rights and environmental impacts within their operations and throughout their global value chains and be required to adequately compensate victims of abuse. This should include appropriate administrative and civil liability legislative provisions for human rights and environmental adverse impacts within their operations and throughout their global value chains, while also exploring the potential for other types of liability.”
Read the full letter in the attachement below.