Edited by Fabio Bassan
Chapter 11: SWFs and human rights protection
AbstractThis chapter examines how sovereign wealth funds may pursue human rights principles through shareholder activism and explores the complicity and due diligence notions of SWFs under international norms. The chapter also investigates whether the standard of care should be the same or different from the highest standard utilized by state-owned enterprises and addresses the concept of ‘double contradiction’ in SWF activities: the potential conflict between pursuing rights-based objectives versus profit maximization. Positing that SWFs are state actors, the chapter concludes that the state’s legal obligations under international law must clearly trump the profit mandates of its SWFs.
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