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UNI Deputy General Secretary Christy Hoffman spoke at the OECD Forum on Responsible Business Conduct and urged investors to do more to ensure multinational businesses honour their commitments to human rights.

Taking part in the session “Making an impact through responsible business,” Hoffman said that investors could hold the key to bringing about positive change at a company guilty of rights abuses or other examples of misconduct.

“At UNI Global Union we see investor engagement as an essential part of our aim to win for workers and to build unions,” Hoffman said.

“Pressure from investors is a way to take the discussion out of the CSR department and put it on the plate of the CFO or CEO.,” she added. Hoffman explained that in cases of egregious and systemic violations, investors are asked to step in when other measures fail. 

The OECD is marking the fortieth anniversary of its Guidelines for Multinational Enterprises. Hoffman said that most investors use the guidelines as a benchmark for business conduct and that that a Guidelines case normally accompanies investor outreach. But many investors need encouragement to fully hold portfolio companies responsible for their implementation.

“It’s imperative that OECD guidelines apply to investors in their business relationships. Investors should be responsible to exercise due diligence just as any other business.”    

“Investors should see that when  a  company has  a global agreement with a global union  this is as a good indicator of due diligence.  It is our core business to know when there are violations of rights at   local work sites.  Companies cannot rely on your local management for information.”