Inconsistent and often weak integration of international human rights standards and frameworks across corporate reporting frameworks, benchmarks, and other ESG data and research products contributes to these challenges. In 2021, companies implicated 80 in serious human rights abuses in Asia and Africa received high ESG marks and were included in key indices and funds. 70 The UNWG’s release of the UNGPs 10+: A Roadmap for the Next Decade of Business and Human Rights (UNGPs 10+ Roadmap) in late 2021 served as a call to action for the financial services industry to drive positive change. The report—intended to scale action in advancing corporate respect for human rights in the next decade—recognizes that while sustainability is increasingly at the core of the global agenda, the full potential of the UNGPs has not yet been seized. It follows the release of two UNGPs 10+ stocktaking reports assessing the uptake of the UNGPs among states, businesses, and financial actors, including institutional investors. In this report, BSR provides an overview of key areas of progress to tackle global challenges and contribute to new systems grounded in respect for human rights. We highlight the materiality of human rights for FIs and argue that adopting a human rights approach to finance can strengthen the impact of traditional ESG practices. This report further elaborates on the call to action set out in the UNGPs 10+ Roadmap—from adapting core business and driving respect for human rights in financial markets to engaging with people affected by investment value chains and ensuring that victims of harm have access to remedy. The report concludes with next steps for transforming finance. Without urgent action by banks, institutional investors, development finance institutions and those that work with and influence them to embed respect for human rights in corporate ownership, finance and governance, business respect for human rights risks will be stymied in the decade ahead. UN Working Group on Business and Human Rights, UNGPs 10+ Roadmap 7 HUMAN RIGHTS ROADMAP FOR TRANSFORMING FINANCE