2018
DOI: 10.18352/ulr.440
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The Dutch Banking Sector Agreement on Human Rights: An Exercise in Regulation, Experimentation or Advocacy?

Abstract: role this plays in their understanding of their relationship to human rights and to the extent of the UNGPs/ Guidelines relevance to them, identifying five sources of misalignment (Section 2.2). It will then look at the main industry-led attempt to provide guidance on how human rights responsibilities apply to banks-the Thun Group papers of 2013 (Section 2.3) and 2017 (Section 2.4)-examining how these misalignments have played a prominent role in the drafting thereof.

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Cited by 4 publications
(2 citation statements)
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References 9 publications
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“…Direct linkage for adverse impacts could also only be made through a banks' corporate lending activity, introducing a new concept of "proximity" to distinguish between high and low proximity direct linkage-"based entirely on corporate structuring…rather than any UNGPs concepts" (2018, p. 92). The Thun Group also expressly distanced themselves from the need to engage in human rights remediation in relation to any impacts caused by financed clients (Thun Group, 2017, p. 15), and largely viewed due diligence requirements as dependent on the type of financing involved, emphasising existing environmental and social due diligence measures as sufficient, rather than specific UNGP-informed HRDD (Thompson, 2018).…”
Section: Cashmoneymentioning
confidence: 99%
“…Direct linkage for adverse impacts could also only be made through a banks' corporate lending activity, introducing a new concept of "proximity" to distinguish between high and low proximity direct linkage-"based entirely on corporate structuring…rather than any UNGPs concepts" (2018, p. 92). The Thun Group also expressly distanced themselves from the need to engage in human rights remediation in relation to any impacts caused by financed clients (Thun Group, 2017, p. 15), and largely viewed due diligence requirements as dependent on the type of financing involved, emphasising existing environmental and social due diligence measures as sufficient, rather than specific UNGP-informed HRDD (Thompson, 2018).…”
Section: Cashmoneymentioning
confidence: 99%
“…Benjamin Thompson illustrates this technique by describing and evaluating the 2016 Dutch Banking Sector Agreement on international responsible business conduct regarding human rights, which involved the banking sector, the Government, trade unions, and NGOs -the first of its kind. 13 This Agreement requires banks to have in place a policy commitment to respect human rights in their financial activities, to carry out due diligence, to set up client engagement procedures, and to enable remediation. Thompson welcomes this initiative, as, being owned by the industry, it may have more corporate legitimacy and may therefore be more effective than top-down state regulation in bringing about changes in corporate conduct.…”
Section: Private Regulationmentioning
confidence: 99%