Verisk Maplecroft releases world’s first subnational human rights risk indices
12 November 2020 - 8:00PM
After two years in development, global risk data and forecasting
company Verisk Maplecroft has released the world’s only Subnational
Human Rights Dataset to enable multinational organizations and
financial institutions to undertake risk assessments of their
global operations, supply chains and investments in more granular
detail than has been possible to date.
The Dataset, which encompasses risk scores for 3,600 states and
administrative regions in 198 countries, can be used by companies
and asset managers to accurately map their exposure to 10 key human
rights issues:
- Arbitrary Arrest and Detention
- Child Labour
- Extrajudicial or Unlawful Killings
- Forced Labour
- Freedom of Assembly
- Kidnappings
- Migrant Workers
- Occupational Health and Safety
- Security Forces and Human Rights
- Torture and Other Ill-treatment
“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,” says 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.”
Dynamic human rights monitoring captures local-level
risks for 198 countries
The indices bring together data science with expert derived
judgements and existing methodologies from Verisk Maplecroft’s
internationally recognised country-level human rights indices.
‘Events gathering’ of reported violations or issues related to a
specific human right is a key component. The benefit of this
approach is that Verisk Maplecroft is able to more accurately
capture the situation as reported ‘on the ground’ as well as being
able to swiftly react to any major event, including conflicts,
protests, riots or any other severe human rights infringements.
Furthermore, 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.
With the human rights situation not only varying between
countries, but also between the administrative areas, such a view
is particularly beneficial for organizations with global
footprints, multinational supply chains or diversified investment
portfolios.
Fine-tuning human rights risk assessments
The indices provide an important risk assessment tool for a
range of functions, including for the 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. These organizations may have 10,000 suppliers from 120
countries, but a budget that only allows for an audit of 10% of
them. The Subnational Human Rights Dataset will support them with
prioritising which suppliers to audit to have the best chance of
addressing these issues from their supply chain.
Asset managers seeking to understand their ESG exposure,
especially in relation to corporates and real assets, can also use
Verisk Maplecroft’s Subnational Human Rights Dataset, alongside its
environmental and governance indices, to monitor risk at the
portfolio level.
“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,” adds Mr
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.
With a unique holistic approach to risk, combining the world’s
most extensive portfolio of global risk indices with expert
analysis and specialist advisory capabilities, Verisk Maplecroft
helps 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,
its flexible solutions and tailored services give companies the
actionable insight they need to make more effective decisions and
succeed in an increasingly volatile world.
Verisk Maplecroft is part of the Verisk family of companies
(NASDAQ: VRSK). Verisk is a leading data analytics provider serving
customers in insurance, energy and specialized markets, and
financial services. Around the world, Verisk helps customers
protect people, property, and financial assets for more information
visit www.verisk.com.
www.maplecroft.com
Press contact:
Jason McGeown Head of Media Relations Verisk Maplecroft Tel: +44
(0)1225 472846 Email: press@maplecroft.com
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