September 13, 2021
Authors
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BSR Staff
BSR this month submitted its feedback to the EU Social Taxonomy Process, an effort initiated under a mandate from the European Commission Platform on Sustainable Finance to ensure that vital social aspects of sustainability are integrated into the EU’s Taxonomy Regulation.
The Platform is instrumental in enabling cooperation among a wide range of stakeholders from the public and private sector, including the best expertise on sustainability from the corporate and public sector, industry, academia, civil society and the financial industry.
BSR’s recommendations on the draft social taxonomy report highlighted six key points for consideration, including the importance of grounding socially sustainable business practices in international human rights standards and relevant frameworks; the necessity of robust corporate governance for tackling sustainability challenges, and ensuring that minimum human rights safeguards are understood to involve proactive and ambitious corporate due diligence.
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