Materiality and Risk assessment

Materiality refers to the most important impacts that the company has on children’s rights and well-being; the impacts that affect children as stakeholders, not simply to a company’s bottom line. GRI provides the most widely used global sustainability standard that enables companies to track and publicly disclose their sustainability impacts and performance, including on human rights issues – information that is increasingly of interest to investors, consumers, employees and other stakeholders. However, reporting and disclosure on children’s rights-related issues (beyond child labour) is still underdeveloped.  Companies must  develop robust indictators that will enable them and others to measure and evaluate corporate performance.  One such set of indicators of governance and core operations is “Materiality and Risk Assessment.”

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Materiality and Risk assessment
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Children's Rights in Policies and Codes of Conduct. A tool for companies

A guidance for business on integrating children’s rights considerations into company policies and processes, developed by UNICEF and Save the Children. This tool for companies recommends ways for all businesses to incorporate children’s rights into their policies and codes of conduct, based on the Children’s Rights and Business Principles. It reaches beyond the traditional focus areas of child labour and philanthropy and outlines the child rights elements that are relevant to all companies. At the same time, it is intended to be flexible and adaptable, and includes elements that companies can adopt and integrate as appropriate, based on their biggest areas of risk and opportunity. The tool comprises three main parts: The first part gives a detailed introduction to the tool and background on the Children’s Rights and Business Principles; Part 2 includes information on how to get started and describes how a commitment to respect and support children’s rights can be integrated within company statements of business principles and codes of conduct; Part 3 outlines the elements that all companies should consider integrating into their human rights and other policies, under Principle 1. It also includes policy recommendations to be considered based on a company’s particular direct and indirect impacts, under Principles 2–10. The information under Principle 4 summarizes when and how companies should develop a stand-alone child protection policy or code of conduct.

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UNICEF, United Nations Children's Fund

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