Human Rights Policy
1. Positioning of the Policy
The Resona Group has established the Resona Group Policy on Human Rights (hereinafter referred to as “this policy”), with the purpose of clarifying our commitment, as a corporate signatory to the United Nations Global Compact, respecting human rights and promoting initiatives to fulfill our responsibilities in this regard. This policy was established in alignment with international norms on human rights, including those listed below, which we fully support. Looking ahead, we will promote initiatives to ensure respect for human rights in accordance with major international norms and guidelines on human rights issues.
[ Alignment with Major International Norms on Human Rights ]
- Guiding Principles on Business and Human Rights
- The International Bill of Human Rights (Universal Declaration of Human Rights and the International Covenants on Human Rights)
- The ILO Declaration on Fundamental Principles and Rights at Work
- ILO’s Eight Fundamental Conventions
- Children’s Rights and Business Principles
2. Scope of Application
This policy applies to all officers and employees. Moreover, the Resona Group recognizes the need to elevate our effort in terms of respecting human rights. We therefore strive to share our beliefs regarding human rights with customers, suppliers (e.g. vendors, contractors) and all other stakeholders. We expect all our stakeholders to support this policy and act with similar mindset on human rights.
3. Commitment to Respecting Human Rights
The Resona Group shall, in every aspect of its business activities, fulfill its responsibilities to respect human rights in compliance with all applicable laws and regulations of each country and region in which we operate. When there are discrepancies between regional laws and regulations and internationally recognized human rights norms, the Group shall uphold internationally recognized human rights norms and pursue business practices to respect them, regardless of whether or not there is an obligation to respect human rights,
If it becomes clear that human rights are negatively affected, either directly or indirectly, through actions taken by any officers or employees, or through our products and services, we shall take necessary actions to address the issue appropriately .
In addition, the Resona Group is currently engaged in the following initiatives to address fundamental human rights issues, and ensures that all officers and employees fully comply with them.
- Eliminate and abolish all forms of discrimination in employment based on race, ethnicity, nationality, belief, religion, disability, linage, gender, sexual orientation, gender identity, age, health condition or other attributes
- Prohibit all forms of harassment, including sexual and power harassment
- Prohibit all forms of forced labor and child labor
- Respect rights to freedom of association and collective bargaining
- Strictly comply with laws and regulations regarding labor hours and reduce excessive working hours
- Provide wages that exceed minimum wage required by law and fully implement the concept of equal pay for equal work
As a financial service company, the Resona Group is aware of the possibility of unintentional engagement in human rights violation through financing in any field. Through human rights due diligence process and stakeholder engagement, we shall identify salient human rights issues for the Group, and carry out periodic reviews.
Respect for Human Rights of Employees
- The Resona Group shall respect the basic human rights of employees.
- The Resona Group shall respect difference in values among employees and promote diversity & inclusion.
- The Resona Group shall provide equitable and safe workplace environment to employees.
- The Resona Group shall work to develop trust relationships with employees.
Respect for Human Rights of Customers
- The Resona Group shall treat customers in equitable manner.
- The Resona Group shall provide customers with equitable and responsible financial products and services.
- The Resona Group shall respect human rights in its relationships with customers.
- The Resona Group shall strive to build a common understanding regarding human rights with customers and encourage their initiatives on this issue.
Respect for Human Rights of Suppliers
The Resona Group shall strive to build a common understanding regarding human rights with suppliers (e.g. vendors, contractors) and encourage their initiatives on this issue.
4. Human Rights Due Diligence
The Resona Group shall carry out human rights due diligence appropriately to prevent or mitigate any potential or actual negative impact on human rights in our business activities. This shall include engagement with customers as well as suppliers (e.g. vendors, contractors) to address potential negative impacts of their business activities on human rights as well as execution of Resona Group’s influence to prevent or mitigate such impact as appropriate. If any human rights violation is discovered via this process, the Group shall take necessary countermeasures.
5. Grievance Mechanism
If any direct or indirect human rights violation were to be found, through actions taken by any officers and employees, or through our products and services, we shall take appropriate measures to provide remedy for the victim.
To this end, we have established a grievance mechanism to respond to human rights concerns reported by consultors and various stakeholder groups. This includes contact via phone call and website for customers, and internal hotlines for employees. We ensure each report is sent to relevant departments tasked with addressing reported concerns responsibly.
We also give full consideration to protecting consultors from detrimental treatment and ensure that their identities as well as the content of their reports are kept confidential.
6. Engagement with Stakeholders
The Resona Group shall engage with relevant stakeholders through dialogs and discussions in a timely manner through the initiatives built on this policy, with the aim of improving and updating our approach to respecting human rights.
7. Dissemination of the Policy and Education
The Resona Group shall strive to ensure this policy is well understood and upheld by all officers and employees. As part of our effort to resolve all forms of human rights issues, the Group shall provide employee trainings addressing a broad range of related issues, and empower each officer and employee develop proper understanding and awareness of human rights.
8. Disclosure
The Resona Group shall disclose information on initiatives to ensure respect for human rights via media such as our corporate website and periodically update our progress, with the aim of facilitating stakeholder understanding.
9. Governance Structure
At the Resona Group, the status of initiatives to ensure respect for human rights is periodically reported to and managed by the Group Sustainability Promotion Committee. It is then examined by the Executive Committee, before being reported to the Board of Directors, for robust oversight . This policy was also established upon approval by the Board of Directors.
10. Periodic Review of the Policy
The Resona Group sees the growing importance of human rights issues, and recognize our responsibility in respecting human rights shall also increase as well. Therefore, the Group shall periodically review this policy and revise it as necessary.