Comments by Shift on the Draft Report on Minimum Safeguards

Shift welcomes the publication of the Draft Report on Minimum Safeguards by the Platform on Sustainable Finance, and its call for feedback on the content and recommendations. The report bypasses simplistic approaches and grapples with the challenge at the center of this endeavor, which is how to assess the adequacy of a human rights due diligence process – and how to do so at scale.

There is no single or simple way to meet this challenge, not least because current data in the public arena on companies’ social performance is not up to the task. At the same time, the report rightly notes that developments relating to EU reporting requirements are set to change that reality, and should increase the availability of high-value information. Of course, in many cases, this will still require that analysts and assurance providers have the skills to contextualize and assess that information.

We believe the report’s recommendations point in the right direction, but may require further elaboration in some instances. We also recognize that a first version of the safeguards will be – and should be explicitly acknowledged as – a starting point grounded in today’s best ‘art of the possible’, that will need to further evolve in the years to come, as available data and experience with social indicators improve.

This document contains our comments on the Draft Report on Minimum Safeguards, which were submitted to the Platform on Sustainable Finance.  

IOC Announces Commitment to the UN Guiding Principles on Business and Human Rights

Today the International Olympic Committee (IOC) published its new Strategic Framework on Human Rights. This is informed by the strategic recommendations made by Prince Zeid Ra’ad Al Hussein and Rachel Davis in their 2020 report for the IOC on aligning the organization’s approach with the UNGPs. 

Welcoming the IOC’s announcement, Prince Zeid and Rachel Davis said:

“Shift welcomes the IOC’s public commitment to the UN Guiding Principles on Business and Human Rights, announced today in its new Strategic Framework on Human Rights. This is a significant development for the IOC and it sets an important precedent for sports bodies across the Olympic Movement to drive meaningful change in preventing and addressing risks to people. 

As the organization moves forward, new approaches will be needed to effectively tackle some of the most severe impacts facing athletes today, including harassment and abuse, voice and representation, and the need for greater access to remedy – informed by the perspectives of those directly affected. This Framework is a crucial first step. We look forward, together with other stakeholders, to supporting the IOC as it works to meet its responsibility to respect human rights in practice.”