Solway Investment Group introduces its corporate Human Rights Policy

Israel - English

News provided by

Sep 20, 2022, 08:00 ET

The company commits to carry out and communicate annual Human Rights Impact Assessments

ZUG, Switzerland, Sept. 20, 2022 /PRNewswire/ -- Solway is addressing the high importance of producing and marketing products in a responsible and environmentally friendly manner by introducing the new corporate Human Rights Policy (https://solwaygroup.com/sustainability-polices/) identifying standards, principles and basic rules it commits to respect.

Under this policy Solway adheres to respect and promote all national laws and internationally recognized human rights principles, including the United Nations Universal Declaration of Human Rights, the International Covenant on Civil and Political Rights, the International Covenant on Economic, Social and Cultural Rights, the European Convention on Human Rights, and the International Labor Organization's Declaration on Fundamental Principles and Rights at Work. Solway's new Human Rights Policy is approved by the dedicated Steering Committee, founded on an unambiguous respect for human rights. In addition to Solway's board members the decisive committee comprises representatives of the major European nickel buyers and international experts of business and human rights.

The corporate Human Rights Policy is a framework for how Solway plans to approach issues in the future, and another way to benchmark its compliance to the UNGP and OECD Guidelines.

The Group plans on carrying out human rights due diligence, including an annual Human Rights Impact Assessment, the adoption of an integration (prevention and/or mitigation) strategy, and of remediation of actual and potential adverse identified impact risks, as well as a periodic reporting of how Solway identifies and manages its adverse impact risks.

To confirm its commitment to perform and communicate group-wide annual Human Rights Impact Assessments in the future, Solway has launched the respective pilot project in Guatemala. The company started with defining a map of human rights holders with consideration of criteria chosen according to UNGP guidelines.

Continuing to introduce measures identified in the Group's ESG implementation plan, announced on June 4, 2022 (https://solwaygroup.com/2022/07/04/solway-communicates-its-plans-after-assessing-the-groups-governance-esg-approach/), Solway targets to carry on with shaping up internal processes and operating procedures that will bring the company into alignment with the UN Guiding Principles on Business and Human Rights and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. That includes introduction of the proper grievance mechanism that will allow individuals to report concerns about potential or actual misconducts as well as other operating procedures that make the Human Rights Policy effective.

The present Human Rights Policy is the first, decisive measure and a step in Solway's continuing process to make real improvements. Implementation of the new governance framework is underway. The actions will be supported by company-wide communications, awareness, and training programs. Solway will publish further details regarding the corresponding developments over the coming months.

Contact: [email protected]
+41417400400

SOURCE Solway Investment Group