Statement by India under Item No. 3: Interactive Dialogue with the Working Group on the issue of Human Rights and Transnational Corporations and other Business Enterprises at the 56th Session of the Human Rights Council (18 June – 12 July 2024) delivered by Ms. Suman Sonkar, First Secretary, Permanent Mission of India to UN, Geneva, 26 June 2024 Statement by India under Item No. 3: Interactive Dialogue with the Working Group on the issue of Hum..
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Statement by India under Item No. 3: Interactive Dialogue with the Working Group on the issue of Human Rights and Transnational Corporations and other Business Enterprises at the 56th Session of the Human Rights Council (18 June – 12 July 2024) delivered by Ms. Suman Sonkar, First Secretary, Permanent Mission of India to UN, Geneva, 26 June 2024

Statement by India under Item No. 3: Interactive Dialogue with the Working Group on the issue of Human Rights and Transnational Corporations and other Business Enterprises at the 56th Session of the Human Rights Council (18 June – 12 July 2024) delivered by Ms. Suman Sonkar, First Secretary, Permanent Mission of India to UN, Geneva, 26 June 2024

Mr. Vice President,

We believe that the corporates and financial actors have an important role in greater compliance of human rights principles by embedding human rights into their policies and strategies and scale up progress on the implementation of the Guiding Principles on Business and Human Rights (BHR). There is a need to drive sustainability through incorporating Environmental, Social and Governance (ESG) criteria in the heart of businesses, including at investment stage.

  1. This timely report by the Special Rapporteur, among other things also highlights the key role that can be played by the governments and regulator to enable investors, in their ESG, and sustainability.
  1. We welcome mention of the Business Responsibility and Sustainability Reporting initiative in India, a mandatory disclosure framework for large, listed businesses that includes principles on respecting and promoting human rights and protecting the environment. India continues to value the work of the Working Group towards the implementation of the United Nations Guiding Principles on BHR.
  1. We would like to request the Working Group to suggest how a human rights-based approach could encourage states and financial actors to lower the cost of remittance, which can make available a large amount of financial resources to the poor and also assist in restricting informal financial transactions.

I thank you.