Verisk Maplecroft, a global risk data and forecasting company, has announced the release of their Subnational Human Rights Dataset to enable multinational organizations to undertake risk assessments of their supply chains in granular detail.
The Dataset, which encompasses risk scores for 3,600 states and administrative regions in 198 countries, can be used by companies to accurately map the exposure of their global suppliers and the raw materials used in their products to 10 key human rights issues:
“This data is unique, as there is nothing else in the marketplace that can match its comprehension of a wide degree of human rights issues on such a large scale,” said Matt Moshiri, President of Verisk Maplecroft. “In a time where greater emphasis is being placed on the social element of ESG (environmental, social and governance) risks by investors and consumers alike, it will provide the more refined intelligence companies need to take the assessment of human rights to a new level.”
A key component is ‘events gathering’ of reported violations or issues related to a specific human right. With this, Verisk Maplecroft is able to accurately capture the situation as reported on the ground as well as being able to swiftly react to severe human rights infringements. Using a dynamic event gathering approach means the indices will be updated quarterly to provide up-to-date metrics for each of the 3,600 regions. The indices provide an important risk assessment tool for a range of functions, including sustainable procurement departments of global brands that may be worried about the use of child labour or forced labour in the creation of their company’s products.
“While our country-level human rights data remains market leading, the more granular geographic view of the new dataset allows for a fine-tuned approach to risk management,” said Moshiri. “It will also simplify compliance with emerging supply chain legislation and provide greater assurance to ethical consumers and responsible investors that companies are taking the extra steps necessary to minimize their human rights impact.”
About Verisk Maplecroft
With over 15 years standing at the forefront of data modelling, risk analysis and strategic forecasting, Verisk Maplecroft offers an unparalleled perspective on the complexities of the global risk landscape and the challenges it presents to business and investors. Our unique holistic approach to risk combines the world’s most extensive portfolio of global risk indices with expert analysis and specialist advisory capabilities. We help businesses identify, map and manage the exposure of their operations, supply chains and investments to the full spectrum of risks. From emerging ESG trends, political instability and climate change to resource nationalism, labour rights and security issues, our flexible solutions and tailored services give our clients the actionable insight they need to make more effective decisions and succeed in an increasingly volatile world.
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