Image Recognition
A group of 50 institutional investors with $4.5 trillion in assets under management (as of December of 2020) is calling for more rigorous human rights and due diligence policies for companies involved in facial recognition technology. It’s an initiative that was first launched by Candriam, a subsidiary of New York Life, in March of this year. Now, a number of other high-profile investment firms are on board, including Aviva Investors and BMO Asset Management, among others. “These represent serious reputational, operational, and financial risks for the companies involved in [facial recognition technology], as well as salient risks to human rights,” the group said. The Candriam-led group itself is committing to the United Nations Guiding Principles on Business and Human Rights in its own investment analyses concerning facial recognition companies.