ESG

GRI Releases Sustainability Standards for Comment

April 20, 2016

The Global Reporting Initiative ("GRI") has announced that it has released a draft version of Sustainability Reporting Standards, which provide a process for businesses to disclose their progress in implementing the UN's sustainable development agenda, for public comment.
GRI, IOE Sign Deal to Advance "Sustainability"

April 20, 2016

The Global Reporting Initiative ("GRI") and the International Organisation of Employers ("IOE") have signed an agreement to collaborate on encouraging businesses to implement the UN's "sustainable development" agenda, including by pushing small and medium-sized companies to disclose their progress on sustainability.
German Minister Pushes Global Governance on "Tax Havens"

April 18, 2016

In the wake of the "Panama Papers" financial information leak, German Finance Minister Wolfgang Schäuble has called for global governance to stop "tax evasion" and for the development of a tax information exchange system that prevents banks from using foreign "tax havens" with little to no financial reporting requirements to store their funds.
UN-backed Initiative Targets Businesswomen on Climate Change

April 18, 2016

The Guardian reports that a new, UN-supported initiative called "Two Degrees of Change" is calling on women in business leadership roles to promote the UN's climate change agenda on their corporate boards.
Institutional Investors Back ExxonMobil Climate Scrutiny

April 18, 2016

Reuters reports that the Church Commissioners for England has announced support among institutional investors for a shareholder resolution it recently proposed that would require energy company ExxonMobil to disclose the impacts of climate change policies on its business.
Pension System Pushes Climate Resolution at Mining Company

April 15, 2016

Rob Kozlowski writes that, as part of the wave of activist investors pushing greater corporate transparency on climate change at energy and mining companies, the California Public Employees' Retirement System has introduced a shareholder resolution that would require mining company Rio Tinto to disclose its efforts to counter global warming.
GRI Pushes Stock Exchange, Government Reporting Requirements

April 15, 2016

The Global Reporting Initiative ("GRI") has published a press release applauding efforts from stock exchanges and governments around the world to set out guidelines and, in some cases, requirements for businesses to report on "environmental, social, and governance" factors in addition to their financial information.
GRI Builds Network to Advance "Sustainability" Agenda

April 14, 2016

In a recent press release, the Global Reporting Initiative ("GRI") explains how it works with a network of UN agencies, governments, stock exchanges, and other organizations to pressure businesses to engage in reporting on and fulfillment of the UN's comprehensive Sustainable Development Goals.
EU Proposes Country-by-Country Corporate Tax Reporting

April 14, 2016

Politico reports that a European Commission proposal would require multinational companies operating in the EU with a turnover exceeding EUR 750 million to report taxes they pay and other financial information for each EU country in which they operate and for every country outside the EU that, according to the Commission, does not "abide by tax good governance standards."
NGO: Governments Must Force Banks to Respect BHR Agenda

April 14, 2016

The German nongovernmental organization Facing Finance has published a report asserting that banks have failed at self-regulation on business and human rights ("BHR") and environmental issues and calling on governments to impose BHR and environmental reporting requirements on financial companies.