Managing risk and building trust

This chapter addresses the challenges that the Voluntary Principles face after their adoption, and assesses some of the wider implications of meeting these challenges. If the Voluntary Principles are to become a fully operational framework, the convening governments and participating companies and NGOs must together sharpen the focus of the process around the twin objectives of managing risk and building trust. The Risk Assessment section of the Voluntary Principles offers a roadmap of key human rights ‘factors’ to be taken into account as companies plan or update their security arrangements. The implementation challenges facing the Voluntary Principles can only be met by a co-ordinated and sustained commitment on the part of governments and the companies themselves, along with efforts on the part of NGOs and the local communities where the companies operate. Implementation of the Voluntary Principles on Security and Human Rights may have significant implications for the broader debate on voluntary versus mandatory approaches to corporate social responsibility.