5 Multi-stakeholder initiatives
How can MSI help organisations fulfil their individual responsibilities?
An MSI aims to facilitate collaboration among stakeholders by addressing sector-specific risks. MSIs are tailored, practical and sector-specific instruments that support organisations in implementing the OECD Due Diligence Guidance, the UN Global Compact and/ or the UN Guiding Principles on Business and Human Rights.
The core elements of the due diligence steps to address adverse human rights impacts are relevant to most MSIs, albeit tailored to the specific sectors:
- Adopting a human rights policy commitment
- Assessing actual and potential human rights impacts
- Integrating the findings and acting to prevent or mitigate impacts
- Tracking how effectively impacts are addressed
- Communicating how impacts are addressed
- Engaging in remedying impacts caused or contributed to by the organisation
More details on the due diligence steps can be found in Tool 8.
The MSI standards can be integrated into the following mechanisms: