On July 13th, 2023, the United Nations Working Group expressed its concern about the interpretations that are being given to the exclusions provided for in the application of the being given to the exclusions provided for in applying e European Union directive on human rights due diligence.
 

The WGBHR wanted to clarify that the UN Guiding Principles on Business and Human Rights make it clear that "The responsibility of business to respect human rights applies to all companies regardless of their size, sector, operational context, ownership and structure". This mandate is present in all major international instruments on business and human rights, such as the Guidelines for Multinational Enterprises of the Organization for Economic Cooperation and Development (OECD). Indeed, the OECD has clarified that the financial sector, in all respects, is included within the scope of its Guidelines.
 

The Working Group recognized that "financial actors have a capacity to influence companies and expand the implementation of the Guiding Principles" and, on several occasions, has specified that financial institutions can cause, contribute to and be directly linked to adverse impacts on human rights.
 

Therefore, all financial institutions, of all types, have an equal responsibility to respect human rights.