Companies with a “high degree of respect” for human rights have more sustainable business models, according to the European Union Delegation to the Philippines.
The EU envoy emphasized that there is “clear reputational benefit” for companies that comply with the international human rights and environmental standards. Moreover, Véron stressed that for most companies, brand value is among their most important assets and human rights violations could taint that value.
The EU has been vocal in their criticism against the Philippines due to its alleged human rights violations and suppression of freedom. Compliance with international conventions on human rights, labor, environment and good governance is a “major criteria” for a beneficiary of the EU-Generalised Scheme of Preferences Plus scheme.Last week, President Ferdinand R. Marcos Jr. said he hopes the country’s human rights compliance will not affect its status under the EU GSP+.