IRRC No. 887

The importance of stakeholder engagement in the corporate responsibility to respect human rights

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Over the past forty years, there has been a steady rise in the expectation for companies to operate as responsible citizens. Today companies have at their disposal a variety of initiatives, and new levels of accountability have been reached with the advancement of international standards on, among others, corporate responsibility to respect human rights. Against this background, this article provides an overview of the most important guiding tools available on this subject and on how to promote peace and stability when operating in conflict-affected or high-risk areas. The article argues that ongoing stakeholder engagement is a key success factor in meetingthe responsibility to respect human rights and that it has to be an integral part of a company's strategy, especially when operating in conflict-affected countries. Keywords: Stakeholder engagement, collaboration, corporate responsibility, human rights, due diligence, conflict management, multi-stakeholderism, partnerships.

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