Increasingly companies are required to disclose information about their business practices. This trend to be more transparent and to report publicly on business practices is underpinned by increasing mandatory disclosure regulation. For example UK listed companies are required to report on how they are managing human rights. The Modern Slavery Act’s ‘transparency in supply chains’ is also an example of heightened disclosure requirements for businesses on human rights issues. Key Performance Indicators (KPIs) are key.
Mandatory human rights reporting
There are laws in the UK and in other jurisdictions that require companies to report on their human rights impacts. Developing Key Performance Indicators(KPIs) is a means to measure the impacts and report on any improvements.
There are a number of voluntary frameworks that businesses can use to help develop their reporting on human rights issues. For example:
How we can help:
- identify the material human rights impacts in a business
- develop a set of objective and measurable KPIs
- ensure that contracts include reference to KPIs to monitor performance