STRATEGIC FRAMEWORK ON A NATIONAL ACTION PLAN ON BUSINESS AND HUMAN RIGHTS FOR MALAYSIA 102. Companies the world over have acknowledged their responsibility to respect human rights in their operations. Scores of companies worldwide have issued formal human rights policy statements embodying their commitment to respect human rights.106 Business enterprises have formed their own private initiatives to discuss ways to implement their corporate responsibility to respect human rights, such as the Thun Group of Banks and the Global Corporate Community of Practice.107 The world’s largest business associations across industry sectors, such as the International Organization of Employers (IOE), IPIECA (the global oil and gas industry association for environmental and social issues), the International Council on Mining and Metals (ICMM) and the International Bar Association, have engaged in activities to provide their members with the means to respect human rights. 103. While companies are acknowledging their responsibility to respect human rights in their operations, they may not have in place the means to do so. Hence, standards, tools and guidance with human rights criteria have been developed for companies of different sizes and from different sectors to use in implementing their responsibility to respect human rights. Examples include the UN Global Compact’s Business and Human Rights Learning Tool, the International Business Leaders Forum and UN Global Compact’s Guide to Human Rights Impact Assessment and Management and the GRI Sustainability Reporting Framework, the ICMM’s guidance on integrating human rights due diligence in corporate risk management processes, and the European Commission’s Guide on Human Rights and Small and Medium Enterprises. 104. The Government should assist businesses by facilitating access to information on their responsibility to respect human rights and available tools and resources on how they may implement this responsibility in practice. In that regard, business participants at the Commission’s roundtable discussions have observed that they need guidance from the Government on how to respect human rights. 105. Recommendations: The Commission therefore recommends that the Government assist companies in implementing their responsibility to respect human rights by promoting corporate uptake of the Guiding Principles and facilitating their access to relevant tools and resources. The Government should explore all ways of doing so, including the following: § § § § Establishing a resource centre, committee and/or web portal on business and human rights Requiring business regulatory agencies such as the SSM and Bursa Malaysia to undertake initiatives to promote and implement the Guiding Principles Encouraging and supporting existing institutions, committees, networks and other bodies that work on corporate social responsibility to promote and implement the Guiding Principles Supporting and collaborating with industry, multi-stakeholder and other non-governmental initiatives, whether at the domestic, regional or international levels, that seek to promote and implement the Guiding Principles 32