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Luxembourg – impact assessments

Part III – NAP
3. Government’s Response (pg. 28)

…Regarding companies’ level of commitment, it is interesting to take note of a study on corporate social responsibility that the international consulting firm KPMG published in 2017. For the first time this study also analyzed the extent to which human rights were perceived as a business issue in the 4,900 largest companies in 49 different countries (including Luxembourg) and in 250 largest companies in the world. According to the study’s statistics, Luxembourg is among the countries in which companies produce reports on their social responsibility at a lower rate than the world average. While this average is 72 per cent, in Luxembourg only 59 per cent of companies submit CSR reports. It can be concluded that, in Luxembourg, human rights are still perceived as not important to business. Therefore, if the Guiding Principles are to be implemented in Luxembourg and if companies must implement relevant domestic policies and rules on respect for human rights, as well as effective governance to implement them and means to address potential negative human rights impacts of their activities, then an effort of information, promotion and awareness on the part of the government, in the context of the NAP, seems useful and necessary.

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