Due Diligence in Finance in Palestinian Territory, Occupied: A Moral Imperative Amidst Unrelenting Conflict
As the international community grapples with the devastating humanitarian crisis unfolding in Gaza, it is crucial that business entities operating in the occupied Palestinian territory take immediate responsibility for ensuring they are not perpetuating or exacerbating the suffering of Palestinian civilians.
The UN Guiding Principles: A Call to Action
The United Nations Guiding Principles for Business and Human Rights, supplemented with guidance from the UN Office of the High Commissioner on Human Rights, the UN Working Group on Business and Human Rights, and the UN Development Programme, demand heightened human rights due diligence regarding operations and supply chains in conflict zones.
The Importance of Transparency, Accountability, and Responsible Business Practices
In a region where the very fabric of society is being torn asunder by decades of occupation, it is imperative that companies operating in Gaza demonstrate a commitment to transparency, accountability, and responsible business practices. The Business & Human Rights Resource Centre (BHRRC) has launched a survey and tracker to monitor companies’ heightened due diligence efforts, an initiative that underscores the urgent need for companies to prioritize human rights and the welfare of Palestinian civilians.
The Consequences of Failure
The stakes are high: failure to conduct thorough human rights due diligence can have far-reaching consequences, including exacerbating conflict, causing harm to innocent civilians, and incurring significant legal and reputational risks. As the world watches in horror as Gaza teeters on the brink of collapse, it is imperative that businesses operating in the occupied Palestinian territory take concrete steps to ensure their actions do not contribute to the collective punishment of Palestinians or perpetuate a culture of impunity.
A Moral Obligation: Prioritizing Human Rights and International Humanitarian Law
In this moment of crisis, business has a moral obligation to prioritize human rights and respect for international humanitarian law. By conducting thorough due diligence, companies can help bring an end to this devastating conflict and support efforts towards lasting peace and reconciliation in the region.
Key Takeaways:
- Conduct thorough human rights due diligence to ensure operations and supply chains do not perpetuate or exacerbate human suffering.
- Prioritize transparency, accountability, and responsible business practices to demonstrate commitment to human rights.
- Failure to conduct thorough due diligence can have far-reaching consequences, including legal and reputational risks.
- Business has a moral obligation to prioritize human rights and respect for international humanitarian law in conflict zones.