The Corporate Human Rights Benchmark: Sparking a Race to the Top?

The Corporate Human Rights Benchmark (CHRB) has arisen amid widespread concern about the activities of transnational corporations in the global south. The benchmark, which is grounded on the UN Guiding Principles on Business and Human Rights—a global normative framework for responsible business conduct—assesses the performance of 101 publicly traded companies from different parts of the globe, against a range of human rights metrics and indicators. This article examines the structure and effects of the CHRB. It argues that the benchmark, although embryonic, can be characterised as a quasi-monitoring tool for the UN Guiding Principles. The article further argues that the benchmark has introduced a positive competitive environment for ranked companies to race to the top on Human Rights. This is reinforced by the considerable reputational and financial pressures that have been generated against poorly performing firms