The Thun Group - Background and Drivers

Introduction
This document
i) is based on the UN Guiding Principles on Business and Human rights as an overarching global standard
ii) is the result of discussions among a group of banks interested in sharing their experiences and ideas regarding
implementation of the Guiding Principles
iii) is intended as a discussion paper, providing thoughts on what the topic of human rights might mean for banks in practice and
initial guidance to banks keen to address human rights issues in their core business activities – both to minimise potential
adverse impacts to rights holders and related risks to banks, and to identify opportunities to promote good practice
iv) focuses on Guiding Principles 16 –21 (relating to the corporate responsibility to respect human rights), which were considered
the most relevant to participating banks’ specific issues
v) focuses on the human rights implications arising from banks’ business relationships with clients, and not on the broader
impacts of the banking industry on society
vi) suggests an approach to the assessment of risks and the scope and depth of due diligence which may be undertaken
vii) does not address issues that are non-specific to the banking sector (e.g., supply chain screening, employment practices) where
there is already detailed precedent and guidance, but refers to practices of banks’ clients where these may be relevant for human
rights
viii) supports existing frameworks and guidelines and reflects relevant parts therein
ix) is intended to further reflection among banks interested in taking the issues and debate forward
x) recognises that many banks already incorporate human rights considerations as part of their normal operating processes.
The Thun Group – background and drivers
The Thun Group of Banks is an informal group of bank representatives that have been discussing the meaning of the UN’s “Protect,
Respect and Remedy” Framework” and the Guiding Principles for the activities of banks. The name derives from the location where
the group met for two workshops in May 2011 and March 2012, respectively, but does not constitute a formal entity of any kind.
The Group consists of banks which have a genuine interest in gaining a better understanding of the “Framework” and the “Guiding
Principles” and in looking for ways in which they can be applied in the banking business. The discussions of the Thun Group banks
were assisted by expert input from the University of Zurich Competence Centre for Human Rights, a member of the Swiss Centre of
Expertise in Human Rights.
The work of the Thun Group is motivated by the following drivers:
1. Acting responsibly: Respecting human rights as “the right thing to do” and an integral part of responsible business conduct.
All of the participating banks are committed to respect human rights in their business activities. The motivation for this
commitment is twofold: it reflects responsible business practice by minimising related risks and underlines the banks’ desire to
manage their impacts on society responsibly.
2. Acting instead of waiting for legal requirements.

While the Guiding Principles are non-binding, they have nevertheless prompted legal developments which are relevant for banks.
The European Union, the United States and other countries have introduced binding rules impacting on business responsibility for
human rights. It is therefore advisable for banks to proactively engage in the ongoing debate around the Guiding Principles and
their implementation.
3. Acting jointly.
The participating banks agree that the Guiding Principles need to be implemented in a manner appropriate for each institution if
they are to become operationally eﬀective. At the same time the banks see an opportunity in shared thinking on how to tackle
this process. This document is aimed at supporting banks in mapping and analysing their potential adverse impacts on human
rights and related risks for their own operations, including reputational, legal, operational and financial risks. The banks hope that
this document, which is based on shared expertise and experience, will support the integration of the Guiding Principles into the
policies and practices of banking institutions.
DISCUSSION PAPER – THUN GROUP OF BANKS 3

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Introduction

The Thun Group – background and drivers

The work of the Thun Group is motivated by the following drivers:

2. Acting instead of waiting for legal requirements.

DISCUSSION PAPER – THUN GROUP OF BANKS 3

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