The business and human rights field and the international LGBTI human rights agenda have evolved almost entirely separately. The United Nations ‘Standards of Conduct for Business on Tackling Discrimination against LGBTI People’ (2017) is the primary effort to bridge this gap. Although drafted in a way that strongly aligns with the second pillar of the United Nations Guiding Principles on Business and Human Rights on corporate responsibility, the dissemination of the Standards has mainly been untethered from the human rights framework and system. This article identifies the need to reassert the human rights foundations of the Standards and leverage their existing momentum to set out a more robust research and policy agenda for meaningfully accounting for sexual orientation, gender identity and expression, and sex characteristics in business and human rights frameworks. To that end, the article sets out priority areas for greater attention from researchers, decision-makers and advocates.