rights and ensuring access to remedy provide guard rails for the massive economic shifts Investor Alliance for Human Rights required to move from a fossil fuel-based to a renewable energy-based economy. Yet, A collective action platform for FIs often tackle climate risks and human responsible investment that is grounded in respect for people’s rights issues separately, undermining the fundamental rights. Close collaboration sustainability of each. For instance, a growing with peers and civil society helps number of renewable energy projects around investors identify human rights risks and the world face cancellation due to community priorities and maximize their leverage opposition. By carrying out due diligence, FIs to create change. can better assess the impacts of greenhouse gases attributable to business activities, as well as shed light on the impacts on all those affected by the necessary transition away from a carbon-based economy.9 Optimize digital transformation by ensuring technology also respects human rights. While financial technology, or “fintech,” such as digital financial services, may enhance financial inclusion and participation and bring about other social benefits, it is critical to safeguard against abuses that could have serious human rights implications. Discrimination and predatory lending, data mining and privacy abuses, facial recognition, the growth of cryptocurrencies, and money laundering are among the risks posed by fintech. Likewise, engaging portfolio companies in the tech sector to ensure the development, sales, and use of new digital technologies that respect human rights 10 is essential for tackling systemic risks posed by digital transformation. Engage in collective action to tackle systemic challenges. Addressing global challenges to advancing respect for human rights takes leadership, coordination, and stakeholder engagement to ensure that the solutions target the root causes of problems. Weak regulatory environments can encourage a race to the bottom among financial actors and their portfolio companies, and financial services and the broader economy can contribute to cumulative impacts such as socioeconomic inequality and climate change. To address these, action by individual FIs alone is insufficient. Multi- stakeholder engagement and collective action are essential for building leverage and 11 overcoming these collective challenges. 22 HUMAN RIGHTS ROADMAP FOR TRANSFORMING FINANCE