ZUG, Swiss, November 17, 2022 /PRNewswire/ — As a next step in introducing the measures identified in Solway’s recently announced ESG implementation plan, the Group is adopting grievance mechanisms to enable affected and potentially affected parties, among companies and projects in which Solway invests, to express their concerns and grievances, including those relating to human rights.
In addition to identifying, recording, assessing and providing prompt responses and resolutions through close dialogue with potentially affected Solway stakeholders, the procedure is intended to complement company-specific grievance mechanisms of the portfolio. The objective is to prevent, mitigate or remedy existing and potential conflicts related to the Group or the companies and projects in which Solway invests. Solway will monitor claims submitted to portfolio companies on a monthly basis.
The complaints mechanism can be used to lodge concerns and complaints regarding Solway and its investment projects or operations. The procedure allows you to file a report in complete anonymity. To ensure accessibility to all, complaints can be filed via several channels: made to Solway‘s, downloaded via a QR code, sent by e-mail or left at the locations of complaint mailboxes.
The mechanism is designed to align with the UN Guiding Principles on Business and Human Rights, Criteria for Effectiveness; ICMM Guidelines on Handling and Resolving Concerns and Grievances at the Local Level; IFC guidance for projects and companies on designing grievance mechanisms; OECD Guidelines for Multinational Enterprises and in accordance with the Practical Guide on Human Rights Due Diligence, created as part of the Swiss National Action Plan for Business and Human Rights (PAN) on behalf of the State Secretariat for Economic Affairs SECO and the Federal Department of Foreign Affairs. FDFA cases.
“We recognize that open feedback and stakeholder input allows us to apply best practices, assess compliance and increase transparency of our investment portfolio. Developments like these are important to achieving our goal to be an honest and responsible company and to take concrete steps to uphold our commitments to the UN Guiding Principles,” said Dan BronsteinChairman of the Solway Investment Group Board.
Moving forward with the ESG implementation plan, Solway intends to present next month the results of the Human Rights Impact Assessment (HRIA), as well as the implementation implementing additional processes to prevent, mitigate and remediate potential and actual human rights impacts identified on the basis of the HRIA.
For more information on the complaint mechanism adopted, please consult the relevant section of the website.
Solway Investment Group is a private mining and metals group headquartered in Swiss with global operations.
For further questions or interview requests, please contact the Solway Investment Group press office on: +41-41-740-04-00 or [email protected].
SOURCE Solway Investment Group