for human rights has significant positive impacts on society. It can lead to mutual respect, trust, and peaceful coexistence between and among stakeholders, which are necessary for constructive engagement and partnership as we collectively work toward sustainable development. 3.1. Government The Philippine government is a signatory to eight core international human rights instruments, including the International Covenant on Economic, Social, and Cultural Rights, CEDAW, Convention on the Rights of the Child, Convention on the Rights of Persons with Disabilities, among others.46 It has also ratified the eight International Labor Organization core conventions set out in the Declaration on Fundamental Principles and Rights at Work.47 As such, the government and its agencies have the international obligation to protect, respect, and fulfill human rights by implementing a legal framework concerning human rights principles and investigating, prosecuting, and remedy human rights abuses. Gains in Closing the Gender Gap in Economic Participation  global loss of human capital wealth due to gender inequality is USD 160.2 trillion, or about twice the value of the global GDP43  by advancing women’s equality, USD 4.5 trillion annually in 2025 will be added to the collective GDP of the Asia Pacific countries, which is a 12% increase over a business-as-usual GDP trajectory44  by closing the gender gap in economic participation could add USD 3.2 trillion to the Asia and the Pacific regional economies45 Beyond having an obligation to guarantee human rights in all situations, the government can lead by example in its role as an economic actor. The global trend is moving toward States adopting a range of measures in protecting human rights from the adverse impacts of business and enshrining the principles stated in the UNGP-BHR. Through this, the government can guide businesses in addressing the growing societal expectations for them to recognize their social responsibility in their actions and decisions, especially for the marginalized and vulnerable sectors such as women, children, persons with disabilities, and indigenous peoples. Additionally, in applying the guiding principles of the UNGP-BHR, the government can secure a healthy economic environment for businesses and investors demanding greater transparency in a company’s sustainability performance, including in the area of human rights. Likewise, as shown above, the norms and expectations under the UNGP-BHR are critical to achieving the government’s SDG commitments and the realization of the PDPAmBisyon Natin 2040. 3.2. Business sector The business case is developed to explain the rationale of being responsible from an economic perspective, which benefits companies, even those that primarily focus on growing their businesses.48 Arguments in favor of CSR typically start with the belief that it is in the business’ long-term enlightened self-interest to be socially responsible. This view holds that, if a business is to have a healthy climate in which to function in the future, it must take action at the present that will ensure its long-term viability.49 Initiative Spotlight: Investor Alliance for Human Rights  Launched in 2018 by the Interfaith Center on Corporate Responsibility, with support from Humanity United and Open Society Foundations  Provides institutional investors with a platform to increase their capacity and impact in addressing human rights risks of business activities, in line with the UNGP-BHR 11