H. E. Luc Véron, European Union Ambassador to the Philippines has emphasized the large responsibility for the corporate sector in the area of human rights, but also underlined the opportunities that the respect of human rights can bring for business.
Veron shared that, ”Sometimes we hear that human rights advocacy would stand in the way of trade and investment. Nothing could be more wrong. I have met many investors who confided that poor governance and sub- par access to justice, a context in which individual and collective rights are ignored or insufficiently protected, is one the most powerful business inhibitor. In other words, human rights is good for business.
The EU ascribes to multilateral instruments in the responsible conduct of human rights anchored on business sector’s compliance with international standards on human rights in the workplace. “Human rights due diligence obligations in recent EU legal initiatives apply to European companies. However, they can have an indirect effect on operators abroad because EU importers will have to exercise the obligation down their supply chain.”
”With the initiative to develop a national action plan, the Philippines is uniquely placed to contribute to and benefit from such a roadmap. The adoption of a National Action Plan for Business and Human Rights in the Philippines will be a critical milestone,” she said.