A/HRC/4/99 page 3 Introduction 1. By its resolution 2005/69, the Commission on Human Rights requested the High Commissioner to convene annually, in cooperation with the Special Representative of the Secretary-General on human rights and transnational corporations and other business enterprises, a meeting with senior executives from companies and experts from a particular sector to consider, within the mandate of the Special Representative (paragraph 1 of resolution 2005/69), the specific human rights issues faced by those sectors, to raise awareness and share best practice. A first sectoral consultation on human rights and the extractive industry was convened in November 2005.1 2. The Human Rights Council, by decision 2/102 of 6 October 2006, requested the High Commissioner for Human Rights to “continue with the fulfilment of her activities, in accordance with all previous decisions adopted by the Commission on Human Rights and to update the relevant reports and studies”. 3. On 16 February 2007, the High Commissioner convened the second sectoral consultation in Geneva on human rights and the financial sector. Participants included senior executives from financial institutions in the public and private sector, representatives from relevant non-governmental organizations (NGOs), academics and other experts. The Office of the United Nations High Commissioner for Human Rights (OHCHR) expresses its gratitude to all the participants for their involvement in the consultation. 4. The present report summarizes the presentations made by panellists in each of the sessions and the subsequent discussion. A number of issues were discussed in various sessions, and have been grouped for purposes of clarity. The annex provides a list of participants who attended the consultation. I. OPENING STATEMENTS 5. Ibrahim Wani (Chief, Research and Right to Development Branch, OHCHR) opened the consultation on behalf of the High Commissioner. Welcoming the wide range of high-level experience and views in the room, Mr. Wani emphasized the importance of respect for diverging views. He noted that the consultation did not seek to draw a consensus on complex issues, but rather to share and record different opinions, corresponding to the wider role of the United Nations as a facilitator and convener of dialogue. Mr. Wani thanked the Finance Initiative of the United Nations Environment Programme Finance Initiative for its contribution to the planning of the consultation. 6. John Ruggie (Special Representative of the Secretary-General on human rights and transnational corporations and other business enterprises) welcomed participants, and stressed that while the consultation was convened by the High Commissioner for Human Rights, the deliberations would provide important information to him in his capacity as Special Representative. He noted that while the attention in the business and human rights arena has 1 See report: E/CN.4/2006/92.