Below is an excerpt from ISS ESG’s thought leadership paper “When Cultural Heritage Clashes with Economic Imperatives: An Explosive Topic.” The full paper is available for download from the Institutional Shareholder Services (ISS) online library.
Companies are expected to ensure the protection of the rights of indigenous peoples and to ensure that Free, Prior, and Informed Consent (FPIC) of affected indigenous groups is obtained when specific circumstances are present, in line with international norms and standards. An enhanced human rights due diligence exercise is warranted for all projects that can have a direct or indirect impact on indigenous peoples. Expectations aside, are sound commitments and recognition of relevant international norms and standards reflected in the operational reality of companies?
Michele Prisco, Associate Vice President, Controversies & Global Norms, ISS ESG
Abigail Kyla Antonio, Analyst, ISS ESG
Nicole Strunk, Associate, ISS ESG