Current risk monitoring systems may not protect workers or provide an accurate assessment of risks. Here are the questions companies should ask themselves.
As supply chains have grown in complexity, a sizable monitoring industry has emerged, designed to assess human rights risks at suppliers to many companies. Codes of conduct, factory audits and certification schemes are now widely used to fulfil human rights due diligence obligations, and to provide a level of assurance to, managers, boards and stakeholders.
However, a growing body of evidence indicates that current monitoring systems are not very effective at protecting workers or providing an accurate assessment of risks. Companies need to start considering whether their monitoring systems are giving them a false sense of security about s
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
The drive for sustainability has to some extent undermined the concept of shareholder value. Denis Kilroy argues that the key strategy companies should be pursuing is creating ongoing value and wealth.