Human Rights: From Poetry to Financial Reports, A Prediction on how the Environmental, Social, and Governance World can Change Everything

• Cabezas Alban, Victor ^[1]
  1. [1] Universidad San Francisco de Quito

     Universidad San Francisco de Quito

     Quito, Ecuador

     
• Localización: Latin American Law Review: Lat. Am. Law Rev., ISSN-e 2619-4880, Nº. 12, 2024 (Ejemplar dedicado a: Open Topic), págs. 49-70
• Idioma: inglés
• DOI: 10.29263/lar12.2024.03
• Títulos paralelos:
  • Derechos Humanos: de la poesía a los estados financieros, una predicción de cómo el marco ASG, ambiente, social y gobernanza, lo puede cambiar todo
• Enlaces
  • Texto completo
• Resumen
  • español

    Este ensayo argumenta que la progresiva inclusión de criterios de derechos humanos en los indicadores ESG puede tener un impacto sin precedentes. A partir de un estudio conceptual del marco legal ESG y los mayores avances normativos en Europa, este documento presenta evidencia indicativa de un nuevo conjunto de incentivos y obligaciones para las empresas transnacionales. Las novedades que trae el movimiento ESG podrían ser extremadamente útiles para avanzar en la agenda del Derecho Internacional de los Derechos Humanos que, por años, ha sufrido los estragos de no tener mecanismos de exigibilidad real a nivel internacional. En Europa, por ejemplo, pronto la debida diligencia en derechos humanos podría condicionar permisos en el mundo de las fusiones y adquisiciones, y la lista de los potenciales impactos es larga. A partir de una sistematización de los avances normativos y de algunas proyecciones, esta investigación muestra el surgimiento de una nueva relación potencialmente transformadora entre los derechos humanos y la sostenibilidad financiera de las compañías privadas.

  • English

    This paper argues that the progressive inclusion of human rights criteria in ESG indicators can have an unprecedented impact. Based on a conceptual study of the ESG legal framework and major normativedevelopments in Europe, this paper presents indicative evidence of a new set of incentives and obligations for transnational corporations. The novelties that the ESG movement brings could be extremely useful in advancing the agenda of international human rights law which, for years, has suffered the ravages of having no real enforcement mechanisms at the international level. In Europe, for example, human rights due diligence could soon condition permits in the world of mergers and acquisitions, and the list of potential impacts is long. Based on a systematization of regulatory developments and some projections, this research shows the emergence of a new and potentially transformative relationship between human rights and the financial sustainability of private companies.

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