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NGOs Call for Mandatory BHR "Due Diligence" in Germany
August 23, 2017
A group of global nongovernmental organizations has proposed legislation for Germany that would require companies to perform "due diligence" to monitor and remedy human rights impacts in their operations and their global supply chains, in line with the UN Guiding Principles on Business and Human Rights (BHR).
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Finance Companies Support EU Transaction Tax
August 23, 2017
A press release from Oxfam celebrates a letter from 52 finance professionals calling for a group of EU member states to impose a "small" tax - deemed a "Robin Hood Tax" by Oxfam - on financial transactions to raise "substantial revenue" for people "in urgent need" throughout Europe and elsewhere in the world.
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Environmentalists Criticize Australian Bank's Climate Statement
August 23, 2017
The Guardian reports that environmental activists have criticized Commonwealth Bank, the largest bank in Australia, for failing to include in its recent climate statement, committing to the 2015 Paris deal on global warming, sufficient specificity on how it will divest from fossil fuel assets and work toward achieving the agreement's objectives.
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Dutch Board Censures Companies over Energy Ad
August 23, 2017
The Dutch Advertising Code Authority has ruled that fossil fuel giants Shell and Exxon misled the public by claiming in advertisements that natural gas was the “cleanest fossil fuel,” based on the Board’s conclusion that natural gas causes damage to the environment.
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Vanguard Pushes for Corporate Climate Reporting
August 23, 2017
Reuters reports that, as part of a broader move within the financial industry toward public disclosure of environmental and social impacts, Vanguard, a US fund company managing $4 trillion in investments, is pushing companies in which it invests to publish climate change risk assessments.
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