Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 135

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 135
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 training, where relevant, to our colleagues across the Group on how to identify and manage human rights risk. In 2024, we focused on our approach to human rights risk management relating to the goods and services we buy from third parties and in respect of our business customers. We issued human rights due diligence good practice guidance tailored to procurement and corresponding high-level guidance for staff who manage our relationships with our business customers. Managing risks to human rights In 2024, we continued the process of adapting our risk management procedures to reflect what we learned from the work on salient human rights issues and began embedding the related guidance documents described above. We developed a human rights due diligence operating procedure for procurement globally. The procedure describes the due diligence process undertaken to identify suppliers where the risk of adverse human rights impact is considered higher and the process to be followed to review and mitigate the risk. We built on the human rights supplier audit pilots undertaken in 2023 in our Asia- Pacific and Latin America regions with an expanded programme of human rights audits in 11 countries across Asia-Pacific, Latin America, the Middle East and North Africa. We continued to develop our in-house capability on human rights with the launch of further online resources for all staff and bespoke human rights training for key colleagues, including those managing relationships with suppliers and business customers, and those with responsibility for overseeing risk management processes. For further details of the actions taken to respect the right to decent work, see our 2024 Annual Statement under the UK Modern Slavery Act at www.hsbc.com/who-we-are/esg-and- responsible-business/modern-slavery-act. For further details of the actions taken to respect the right to equality and freedom from discrimination, see ’Our approach to inclusion’ on page 62 . Sustainability risk policies Some of our business customers operate in sectors in which the risk of adverse human rights impact is considered greater. Our sustainability risk policies consider human rights issues such as forced labour, harmful or exploitative child labour, workers’ rights and land rights. Through our membership of international certification schemes, such as the Forestry Stewardship Council, the Roundtable on Sustainable Palm Oil and the Equator Principles, we recognise standards aimed at respecting human rights. We regularly review our sustainability risk policies and policy implementation as we apply our policies in practice. For further details, see our sustainability risk policies at www.hsbc.com/who-we-are/esg-and- responsible-business/managing-risk/ sustainability-risk. Financial crime controls Our financial crime risk framework also helps to mitigate the risk of