HRC 56th Session: Item 3 – ID with WG on the issue of human rights and transnational corporations and other business enterprises - Embassy of Armenia to Switzerland and Permanent Mission of Armenia to the UN office at Geneva

HRC 56th Session: Item 3 – ID with WG on the issue of human rights and transnational corporations and other business enterprises

26 June, 2024

Delivered by Ms. Nelli Petrosyan, Human Rights Officer

Mr. President,

We thank the Working Group for presenting its report.

The UN Guiding Principles stipulate that meaningful consultation with affected groups, Indigenous Peoples and local communities is a crucial part of the identification of actual and potential human rights impacts of investments. The consultations should be undertaken with all right-holders, including those that are deprived of the possibility to be present in the area of the investment, including due to the ethnic cleansing or forced displacement. This is the case in Nagorno-Karabakh, for example.

We concur with the Working group that knowledgeable examination of specific locations of increased human rights risks, such as conflict-affected areas should be undertaken by investors. A relevant due diligence should be exercised not to harm the interests and abuse the human rights of the people affected by conflict.

It is also important that investors analyze whether the investee has a human rights policy aligned with the Guiding Principles, and the degree to which the policy is implemented. In conflict-affected areas, it is crucial for investors to request that investees provide evidence that they have undertaken heightened human rights due diligence in their value chain and provide information on their actions to all relevant stakeholders.

I thank you

MFA RA
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