Labour Rights and International Labour Standards in the ESG Agenda

Abstract

The paper considers the place of international labour standards in the key ESG instruments adopted at the level of the UN: UN Global Compact, Guiding principles on business and Human Rights and the Principles of responsible investment. In the first part, the focus will be made on the definition of ESG and its content, the second part is dedicated to analysing the texts of the instruments and the relevant guidelines on the point of their reference to international labour standards. This part substantiates the absence of clear incorporation of the international labour standards (other than fundamental ones) in the UN ESG instruments. Also, it argues that both business and the UN ESG agenda lack the understanding of the related to labour human rights in line with the UN Human Rights covenants.