A complex range of public and private institutions provide financing for both corporate and state activity that is associated with human rights abuse. These financial institutions present an opportunity for the widespread dissemination and implementation of the UN Framework on Business and Human Rights. Many of these institutions require borrowers to comply with social and environmental requirements as a condition of financing, but none currently has policies in place to ensure respect for the human rights of those people who are affected by the activities that they finance. Despite having clear human rights obligations, these institutions continue to bankroll human rights abuse with impunity.
In this submission to the Forum on Business and Human Rights, CIEL, BankTrack and ECA Watch justify and provide recommendations designed to ensure that finance, whether public or private, respects human rights.