Panasonic Holdings Corporation and UNDP Malaysia collaborate to conduct Human Rights and Environmental Due Diligence training

Kuala Lumpur, Malaysia and Osaka, Japan, 2 November 2023: Panasonic Holdings Corporation and the United Nations Development Programme Malaysia, Singapore, and Brunei Darussalam (“UNDP Malaysia”) today entered a partnership to undertake a series of Human Rights and Environmental Due Diligence (“HREDD”) trainings for Panasonic Group’s business operations in Malaysia.

The pilot collaboration aims to address the capacity building needs of the Electrical & Electronics supply chain in Malaysia, through engaging with key human rights risks at all levels within sector operations.

The HREDD training delivered will be anchored on the UN Guiding Principles on Business and Human Rights (“UNGPs”), the world’s most authoritative and normative framework guiding efforts to address the adverse impacts of business operations on human rights.

These core requirements of corporate responsibility to respect human rights are increasingly embedded in international standards, national regulations, investor and customer expectations, industry codes, and civil society benchmarks.

“As a public entity, the Panasonic Group is committed to sustainability as an important driver of business growth. We see HREDD as a crucial tool that can help us continue to identify and address human rights risks at all levels within our operations, while also considering the larger context of climate change and environmental impact,” said Shigeki Mishima, Group CHRO, Panasonic Holdings Corporation.

“Consumers, shareholders and investors today are demanding that businesses do more to align with global human rights standards. Businesses that are socially and environmentally responsible are showing a clear uptick in their shareholder values, access to financing and trust capital. Social and environmental returns on capital are rapidly gaining currency as metrics of business performance,” said Niloy Banerjee, Resident Representative of UNDP Malaysia, Singapore and Brunei Darussalam.

Through this partnership, Panasonic Group will continue to deepen their understanding of the HREDD framework and requirements, and know how to implement effective HREDD practices across their business operations in Malaysia.