A/79/317 how it manages human rights policies or involves affected stakeholders. 37 Rio Tinto aims to secure free, prior and informed consent from Indigenous Peoples before resettlement, but this requirement is contingent on local jurisdictional applicability. 38 42. Rules regulating human rights impacts. Rules regulating how private investors address human rights impacts of resettlement projects are evolving. The Guiding Principles on Internal Displacement are now embedded in legal frameworks at national, regional and international levels, prompting companies to reassess their roles in involuntary resettlement projects (see A/HRC/47/39). 39 The European Union directive on corporate sustainability due diligence, which will become effective in 2027, mandates large companies to address human rights and environmental impacts in their operations and value chains, including those resulting from re settlement projects. The European Union regulation on sustainable finance disclosure requires investors to disclose social and environmental impacts but lacks detailed reporting on project-specific risks (see A/HRC/56/55). 43. Transparency issues. There is a need to significantly enhance the quality and quantity of data on corporate social and environmental performance. Currently, most investors rely on private environmental, social and governance data providers, but these data are often weak, inconsistent and may not account for human rights (see A/HRC/47/39/Add.1). 40 Data providers use various methodologies to evaluate human rights performance, which often lack transparency and focus on superficial factors rather than substantive issues such as the establishment of resettlement action plans, genuine consultation and actual outcomes for affected communities. 41 Displacement and resettlement are common in mining developments, for instance, and yet there is a marked absence of data on their scale, frequency and impacts on affected communities (see A/78/155). 42 E. Development without displacement and resettlement 44. Experts from the International Association for Impact Assessment have raised concerns about current development strategies, noting that they often lead to increased displacement and resettlement. While this is not a new concern regarding the way in which development has been implemented for decades, this trend is also seen in adaptation- and mitigation-centred climate change projects, which are exacerbating climate-induced displacement. The experts have questioned the effectiveness of the “resettlement with development approach”, which is aimed at improving livelihoods and living standards through additional resources and benefit sharing. Despite its intentions, successful examples of this approach are scarce. __________________ 37 38 39 40 41 42 12/24 World Benchmarking Alliance, Corporate Human Rights Benchmark, 2023. Available at www.worldbenchmarkingalliance.org/publication/chrb/companies/vale -2. Rio Tinto, Human Rights Policy and Communities and Social Performance Standard. Available at www.riotinto.com/en/sustainability/human-rights#. See also Organisation for Economic Co-operation and Development, Stocktaking Report on the OECD Guidelines for Multinational Enterprises, 2022. Available at https://mneguidelines.oecd.org/ stocktaking-report-on-the-oecd-guidelines-for-multinational-enterprises.pdf. Efforts to address this include the Investor Initiative on Human Rights Data, which is aimed at improving the quality of corporate human rights data available to investors. See www.churchofengland.org/media/press -releases/church-commissioners-england-launchesinvestor-initiative-human-rights-data. See inputs received by the Working Group on the issue of human rights and transnational corporations and other business enterprises, 2023. Available at www.ohchr.org/en/calls-forinput/2023/investors-esg-and-human-rights. The use of misleading sustainability labels and claims remains pervasive in the extractive industry and other sectors and has been the subject of recent anti -greenwashing litigation as well as new legislation. 24-15075