Financialization of housing and the right to adequate housing 2017, para. 63
Paragraph- Paragraph text
- A leading framework for the human rights responsibilities of business enterprises is the Guiding Principles on Business and Human Rights: Implementing the United Nations "Protect, Respect and Remedy" Framework. It is grounded in three pillars: (a) the obligation of States to protect against human rights abuses committed by companies; (b) the responsibility of business enterprises to respect human rights, and thus avoid causing or contributing to adverse human rights impacts; and (c) the obligation of States to provide victims with access to effective remedies when rights are breached. A similar framework is applied in the ten principles of the United Nations Global Compact, the first two of which commit businesses to support and respect the protection of internationally proclaimed human rights and to refrain from complicity in human rights abuses. The Principles for Responsible Investment, launched in 2006 by the United Nations Environment Programme Finance Initiative and the Global Compact, provide a voluntary framework for the incorporation of environmental, social and governance issues into decision-making and ownership practices. Over 1,200 investment institutions have become signatories, with approximately US$ 45 trillion assets under management.
- Legal status
- Non-negotiated soft law
- Body
- Special Rapporteur on adequate housing as a component of the right to an adequate standard of living
- Document type
- Special Procedures' report
- Means of adoption
- N.A.
- Topic(s)
- Economic Rights
- Environment
- Governance & Rule of Law
- Person(s) affected
- N.A.
- Year
- 2017
- Paragraph type
- Other
- Reference
- SR Housing, Report to the HRC (2017), A/HRC/34/51, para. 63.
- Paragraph number
- 63
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