Asset managers unite to urge human rights focus on facial recognition tech

Investor Statement on Facial Recognition launched

Aviva Investors, BMO Global Asset Management and Candriam are among 50 global investors who have pledged their commitment to helping to ensure that human rights are protected in the development of facial recognition technology (FRT).

The firms are signatories of the Investor Statement on Facial Recognition, which is a two-year collaborative engagement programme initiated by Candriam, targeting constructive dialogue with global companies developing or using the technology. Renewable energy sector 'falling short on human rights' FRT in its present form has raised concerns that it risks infringing on individual privacy rights, given it lacks the consent of those being identified and has no official oversight. Misidentification is relatively common, occurs more systematically among certain ethnic groups and has...