A small step forward to business’ human rights compliance

Abstract

Businesses are an essential source of global development and wealth. However, they are not yet generally aligned enough with human rights standards. In addition to the regulatory framework adopted to date, this thesis proposes a new approach to improve human rights compliance by companies. The results of an opinion survey led to the conclusion that a business case based on a company’s reputation and not exclusively on an economic benefit is the right way forward to foster business change. The author argues that consumers seeking to meet their needs defined at the top of the Hierarchy of Needs proposed by Maslow’s theory will promote a parallel action by companies in favor of human rights. This thesis calls for society’s awareness and appeals for consumers to be more demanding in meeting their needs in a way to increase business’ human rights compliance. The findings reiterate that consumers are more conscious of their needs and long for more information, which will enable them to make a better assessment of company conduct related to human rights respect and promotion. Thus, Human Rights Promoter ScoreTM can play a particular role in fostering business’ human rights compliance. Keywords: business and human rights, compliance, consumer, Maslow hierarchy of needs, elements of value, enlightened capitalism