Summary
In 2016, Chile introduced the "La Empresa y los Derechos Humanos" ("Business and Human Rights") policy, which sets out the obligations of businesses in relation to human rights. The policy is based on the United Nations Guiding Principles on Business and Human Rights and emphasizes the responsibility of businesses to respect human rights, to carry out due diligence to identify and address human rights risks, and to provide effective remedies for any human rights abuses that may occur. The policy requires businesses to develop human rights policies and to implement mechanisms to monitor and report on their human rights performance. Businesses must also engage in meaningful consultation with stakeholders, including affected communities and human rights organizations, to identify and address human rights risks. The policy applies to all businesses operating in Chile, regardless of their size or sector, and is enforced by the Chilean government through various regulatory mechanisms.