JIPYONG LLC

Jipyong News|News Update

Jipyong to become the First Law Firm to Join the World Benchmarking Alliance

2022.08.05

Jipyong became the first law firm to join the World Benchmarking Alliance (the “WBA”) which is a multilateral organization for global human rights management. 
 
WBA is a global non-profit organization that develops and evaluates international standards for sustainability, environment and human rights management based on international human rights standards such as the United Nations Guiding Principles on Business and Human Rights (UNGPs) and the OECD Guidelines for Multinational Enterprises.  
 
The WBA members includes the Danish Institute for Human Rights, which advised on the guideline for the European Union (EU) corporate  sustainability due diligence and Social Taxonomy, in line with the Netherlands Pension Asset Management (APG), which is the Europe’s largest pension fund, the Climate Information the Disclosure Standardization Board (CDSB), the World Business Council for Sustainable Development (WBCSD), the Carbon Disclosure Project (CDP), the Sustainable Accounting Standards Board (SASB), GRI, etc.   
 
Representative standards developed by WBA are the Corporate Human Rights Benchmark (CHRB) and Digital Inclusion Benchmark, which evaluate companies' responsibility to respect human rights. Among domestic companies, Samsung Electronics, SK Hynix, Hyundai Motor, POSCO, and Kia Motors have been evaluated. 
 
As human rights management legislation is spreading in the European Union, Germany, Norway, and Japan, legal risks on human rights and requests for public disclosure on human rights management have rapidly increased. Since 2019, Jipyong organized the human rights management group for the first time as a domestic law firm that expanded and reorganized the ESG Center in 2020 to provide human rights due diligence, human rights impact assessment, and ESG compliance advice to several domestic companies. 
 
Sung Taek LIM, the head of Jipyong ESG Center, said, "we plan to systematically consult on human rights management that meets global standards through close cooperation with the WBA, a professional human rights management organization." 
 
Aparna Trichur, who oversees the WBA, welcomed Jipyong by stating, “congratulations on becoming the first Asian law firm to join the WBA, and I hope that human rights management will develop further in Asia in the future.”

Back to List

JIPYONG LLC

Related Practices

Professionals

Related Practices

Professionals

SHARE

Disclaimer

Limited Liabilities