OHCHR and the right to development

Issues in focus

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OHCHR and the right to development

Issues in focus

According to the UN Conference on Trade and Development, the investment gap for the Sustainable Development Goals (SDGs) increased from $2.5 trillion in 2015 to more than $4 trillion in the year 2023. The increase is the result of both underinvestment and additional needs. Much of the needed financing will come from multilateral and bilateral development finance institutions (DFIs). The term ‘DFI’ includes: 

  • Multilateral development banks (MDBs);
  • Other international and regional financial institutions;
  • National development banks and bilateral financing institutions;
  • Export credit agencies;
  • Private lenders.

DFIs also have important roles to play in the global effort to combat climate change and adapt to its effects and helping States realise the right to development.

DFIs and sustainable development

DFIs play a critical role in directly financing investments needed for the realisation of the SDGs and human rights and leveraging resources from the private sector. Investment in transport, energy, water, Information Communications Technology (ICT) and other infrastructure sectors is an important part of this effort, along with investment in productive sectors (such as finance, agriculture and industry), social sectors, digital transformations, and public administration, governance and institutional reform. MDBs including the World Bank Group and regional development banks also play important advisory and normative roles in connection with the development of national policy, legal and regulatory frameworks.

However, in order for DFIs to effectively contribute to sustainable development, it is crucial that they take necessary measures to avoid negative impacts on human rights as defined in international instruments and compatible national laws. Human rights risks may be particularly high in fragile and conflict-affected settings, where DFIs are increasingly active. Multilateral and bilateral DFIs are increasingly seeking to align their operational policies with international human rights standards, including the UN Guiding Principles on Business and Human Rights. The 2030 Agenda for Sustainable Development is grounded explicitly in international human rights law.

OHCHR’s work in relation to DFIs

OHCHR engages actively with MDBs and bilateral DFIs in order to help ensure that development financing activities and policies are consistent with international human rights standards and principles, and that development processes and outcomes are inclusive, equitable and sustainable. OHCHR has worked with numerous DFIs on:

  • reviewing environmental and social safeguard policies, safeguard implementation guidelines, and sectoral strategies;
  • strengthening remedy frameworks, independent accountability mechanisms and public information policies;
  • strengthening approaches to managing risks of digitalization initiatives and value chains (upstream and downstream);
  • identifying and addressing human rights risks of investment projects (including mega-infrastructure) at country level;
  • strengthening policies and procedures relating to reprisals against project-affected communities;
  • support for internal human rights policy development and capacity building; and
  • strengthening access to remedy for human rights violations caused by investment projects.

Remedy

Digitalization risks

Environmental and social safeguard policies

Sustainable infrastructure

Independent accountability mechanisms

Access to information policies

Other technical submissions

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