Human rights abuses include poor working conditions such as child labor and forced labor, conflicts between communities and security forces and infringement of water rights.
Agreements such as the UN Global Compact, which Deutsche Bank has signed, explicitly require respect for human rights. We have integrated human rights considerations in the due diligence processes required by our ES Risk Framework, and we aim to continually improve guidance on human rights issues, for example through involvement in the discussions of the Thun Group.
The Thun Group is composed of banks interested in a better understanding of the UN Guiding Principles on Business and Human Rights and how they can be best implemented in the banking business. The group was supported by the University of Zurich Competence Center for Human Rights, a member of the Swiss Center of Expertise for Human Rights in developing a Discussion Paper that focuses on supporting the integration of key Guiding Principles into the policies and practices of banking institutions. We will use the proposed guidance to improve our own implementation of the Principles.