What Happens in Phase 3? Phase three involves analysing the data that has been collected during scoping and data collection in order to identify any business-related impacts and assess their severity. This will involve drawing on the normative content of international human rights standards and principles, comparative projects, findings from stakeholder engagement and so forth. In practice, some of this analysis will occur during data collection itself, but it is nevertheless important to allocate time and space specifically for impact analysis. It is important to include not only the impacts that seem the most ‘immediate’ but also to consider impacts that the business has caused and contributed to, as well as impacts that are directly linked to business operations, products and services through business relationships. Impact analysis should also involve assessing impact ‘severity’, including by considering the scope, scale and irremediability of the impacts. This requires considering impacts from the perspectives of those who are experiencing them. Lastly, to contribute to business respect for human rights, HRIA of business projects or activities should first and foremost focus on identifying and addressing adverse human rights impacts; therefore, while positive effects may be noted, the identification of ‘positive’ human rights impacts is not the primary objective and should not detract from identifying and addressing adverse impacts.