BBVA publishes CSR Europe's Blueprint for Embedding Human Rights in Key Company Functions in Spanish
In 2011, the United Nations Human Rights Council endorsed the Guiding Principles on Business and Human Rights, which has become the global standard on this topic, for the responsibilities of both governments and corporations.
The responsibility for companies to respect human rights means that they must constantly be aware of their real and potential impact on the world, strive for improvement, and be as transparent as possible.
Embedding human rights into company functions is an ongoing process which must always favour continuous improvement over ticking all the boxes as quickly as possible.
Moved by the growing interest of its stakeholder groups and determined to take a more comprehensive approach to human rights, BBVA in 2016 embarked on an ambitious due diligence process that was completed this year. It entailed an in-depth review of the bank, using the UN Guiding Principles as a reference and focusing on five areas of analysis:
- Internal (HR and environment)
- Cross-cutting issues (taxes, privacy)
- Businesses involving the bank’s own capital
The results of this analysis will serve as the basis for the Group’s new human rights commitment, which will be published at the end of 2017. In addition, we have created a series of improvement plans for each of the areas analysed, to reduce the shortcomings that were identified.