Solway Investment Group adopts grievance mechanism
ZUG, Switzerland, Nov. 17, 2022 /PRNewswire/ -- As the next step in introducing measures identified in Solway's recently announced ESG implementation plan, the Group adopts grievance mechanisms to enable affected and potentially affected parties, amongst the companies and projects in which Solway invests, to express their concerns and grievances, including those related to human rights.
The procedure is intended, besides identifying, recording, evaluating and providing timely responses and resolutions in a close dialogue with Solway's potentially affected stakeholders, to supplement the portfolio companies' own complaints mechanisms. The aim is to prevent, mitigate, or remediate existing and potential conflicts related to the Group or companies and projects in which Solway invests. Solway shall keep track of the grievances submitted to the portfolio companies on a monthly basis.
The grievance mechanism may be used to lodge any concerns and grievances in relation to Solway and its investment projects or operations. The procedure allows one to file a report with complete anonymity. To ensure accessibility for everyone, grievances can be lodged through several channels: completed at Solway's webpage, downloaded through a QR Code, sent by email, or left at the grievance mailbox locations.
The Mechanism is designed to align with the United Nations Guiding Principles on Business and Human Rights, Effectiveness Criteria; ICMM guidelines on Handling and resolving local-level concerns and grievances; IFC guidance for projects and companies on designing grievance mechanisms; OECD Guidelines for multinational enterprise and in accordance with Human Rights due diligence practical guide, created within the frame of the Swiss National Action Plan for Business and Human Rights (NAP) on behalf of the State Secretariat for Economic Affairs SECO and the Federal Department of Foreign Affairs FDFA.
"We recognize that open feedback and input from stakeholders enables us to drive best practices, evaluate compliance, and increase transparency across our investment portfolio. Developments like these are significant in achieving our goal of being an honest and accountable business and taking concrete actions to make good on our commitments to the UN Guiding Principles," said Dan Bronstein, Head of the Board Solway Investment Group.
Going forward with the ESG Implementation plan, next month Solway intends to present the results of the Human Rights Impact Assessment (HRIA), as well as the implementation of further processes to prevent, mitigate, and remediate potential and actual human rights impacts identified on the basis of the HRIA.
For more information on the adopted grievance mechanism please go to the related section of the website.
Solway Investment Group is a private mining and metals group headquartered in Switzerland with global operations.
In case of further questions or interview requests, please contact Solway Investment Group's press office at: +41-41-740-04-00 or [email protected].
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