Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he plans to require companies to disclose the proportion of their assets under management originating from countries with a poor record of human rights.

Companies registered in the UK are required to report the value of their global assets within their annual accounts but there are no plans to introduce requirements to report on their assets in relation to human rights.

Government has introduced other requirements on companies in relation to human rights Quoted companies are required to report on human rights issues, as they relate to the company, within the narrative part of their annual report. Companies must include a description of their business model and of their policies, in relation to human rights, and the effectiveness of those policies. The information provided must be to the extent necessary for an understanding of the development, performance or position of the company’s business and the impact of its activities.

These requirements are enhanced by voluntary guidance and standards, including the UN’s Sustainability Development Goals (SDGs) and the Guiding Principles on Business and Human Rights (UNGPs).