Close the Remedy Gap

The year is off to a rapid start, bringing with it a continued need to focus on the unique role of the financial sector in advancing respect for human rights. Conversations at the 2024 World Economic Forum Annual Meeting, the 12th UN Forum on Business and Human Rights, and COP28 all demonstrated the urgency for the sector to fulfill its human rights responsibilities given the outsized influence it has on the rest of the economy and its potential to put people at the center of climate change solutions, drive inclusive and equitable growth, contribute to conflict mitigation, and foster civic space and democratic freedoms. Mounting regulatory pressure, litigation risk, and stakeholder scrutiny on human rights also highlight the need for consequential action by financial institutions.