Companies and industries have "distinctive roles" in upholding human rights since their actions can lead to either positive or negative impacts to the environment and the economy.

This is why the Commission on Human Rights (CHR) is fully supporting the Philippine National Bank (PNB) in its efforts to adhere with the Business and Human Rights (BHR) framework, which stems from the notion that businesses, including financial institutions, play an important role in upholding human rights.

The CHR even co-hosted with the PNB a forum on Mainstreaming Business Sustainability and Development Framework last December.

"The Commission acknowledges the PNB's initiative to lead a forum that discusses the relevant roles of business organizations, particularly in their fiscal and economic policies, in making a significant impact on fostering inclusive and just business practices in the country," the CHR said.

"It only demonstrates PNB's strong commitment to creating a business environment guided by a sustainable development framework based on the ideals of advancing social justice and human rights," it added.

The CHR cited the principles enshrined in the United Nations Guiding Principles on Business and Human Rights (UNGP-BHR) which it said all government agencies and industries would benefit from. The UNGP-BHR is an international blueprint that encourages governments, businesses, and stakeholders to work with one another to ensure that economic activities positively contribute to the advancement and protection of human rights and sustainable development.

Meanwhile, the CHR also called attention to its National Inquiry on Climate Change, which highlights what it called the financial sector's "distinctive role" in taking a sustainable path by aligning their investment and lending portfolios for "green" projects and science-based targets.

"In the realm of these businesses' financial decisions, it is critical that their financial and economic pursuits intertwine with a steadfast commitment to upholding human rights and shaping a future where economic development and social justice coexist harmoniously," the CHR said.

Another issue that industry leaders can improve on is workplace violence and harassment.  Thus, the CHR also highlighted the ratification of the International Labor Organization (ILO) Convention No. 190 (C190), also known as the Convention Concerning the Elimination of Violence and Harassment in the Workplace last December 2023.

The convention provides for policies that lay down the rights and responsibilities of both workers and employers in dealing with complaints regarding violence and harassment, it said.

"These actions will strengthen the Philippine government's mandate and policy of promoting and protecting Filipino workers' rights, while also ensuring that the country's businesses continue to uphold human rights through responsible, ethical, and inclusive business practices," the CHR stressed.

For its part, the CHR also expressed its willingness to serve as a bridge between the government, businesses, and other stakeholders who are committed to the UNGP-BHR framework.

"Furthermore, the adoption of these frameworks is a tangible step toward incorporating human rights into the country's business practices, as well as an affirmation of our shared commitment to creating a nation in which every individual, regardless of background, can work with dignity and respect," it pointed out.