November 1, 2018
Preparing to its human rights statement, Finnfund wishes to give all those willing to comment on the first draft a chance to do so. Comments can be submitted until 14 November.
Finnfund’s mission is to build a better world by investing in responsible and profitable businesses in developing countries. Finnfund holds human rights in high regard and conducts its business with a view to respect and promote internationally recognized human rights. The Human Rights Statement will be an integral part of Finnfund’s Environmental and Social Policy.
The nature and complexity of the financed activities in challenging geographies, imply that while there is great potential for positive development impact, there are human rights risks that can be severe. Finnfund endeavours to actively and continuously identify, mitigate and manage potential and actual adverse human right impacts in its transactions, using the UN Guiding Principles for Business and Human Rights (UNGPs) as a practical framework.
Responsible companies can have a direct or indirect positive impact on human rights, such as on decent work, gender equality, freedom of association, through their own operations; as an employer, a corporate citizen and as a neighbor for local communities. As a development financier Finnfund is committed to encourage and strengthen this positive impact.
Discussions with NGOs, businesses and other experts have played a key role in preparing the statement. In addition to several meetings, on 7 March, Finnfund held a roundtable discussion on UNGP and human rights in development financing. The speakers were Mattias Iweborg, founder and CEO of Swedish-based ENACT, Executive Director Terhi Aaltonen from KIOS, Environmental and Social Adviser Yan Peng Ng from Neste, and Senior Environmental and Social Adviser Sylvie Fraboulet-Jussila from Finnfund. Contributions to the discussion were made e.g. by non-governmental organisations, businesses, authorities, and the research sector.
Finnfund will work on the human rights statement taking into account the feedback it will receive. Finnfund will also provide its stakeholders with an opportunity to discuss the substance of the policy and the feedback received.
Senior Environmental and Social Adviser, Sylvie Fraboulet-Jussila, tel. +358 40 587 6467, sylvie.fraboulet-jussila(a)finnfund.fi
Environmental and Social Adviser, Karoliina Lindroos, tel. +358 40 577 2203, karoliina.lindroos(a)finnfund.fi