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Bank Agrees to Terms of OECD Evaluation
February 10, 2016
The Dutch National Contact Point ("NCP") of the Organization for Economic Co-operation and Development's ("OECD") Guidelines on Multinational Enterprises has published an outcome document noting that Rabobank, in response to complaints about its palm oil financing, agreed to adjust its process of accepting supply-chain complaints and to accept future evaluation by the NCP.
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PwC Partner Warns of "Climate Risk" in Finance
February 10, 2016
PricewaterhouseCoopers ("PwC") partner Jon Williams writes that pension fund managers must take into account future environmental regulatory action, including under the terms of the recent global climate deal agreed in Paris, in calculating risks to investments they manage, particularly in the fossil fuel sector.
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NGO Seeks Public Dialogue on Bank Strategies
February 10, 2016
Through its BankingFutures dialogue, the nongovernmental organization ("NGO") Meteos, working with consultancy Quest, has called on banks to engage in a "public dialogue" with regulators, NGOs, and consumers to develop standards of care and "respect" for the public to renew trust in the UK's financial sector.
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NGOs Push Correlation Between ESG, Profitability
February 10, 2016
The Global Reporting Initiative reports that a study released by Deutsche Asset Management and the University of Hamburg tends to show that corporate profitability and a focus on environmental, social, and governance ("ESG") principles are aligned, seeking to make the case that businesses must bend to investor and activist demands for more ESG-related reporting.
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GRI Sets out Five-year "Sustainable Development Strategy"
February 10, 2016
The Global Reporting Initiative ("GRI") has announced that it is building a five-year strategy for the advancement of corporate reporting on the implementation of the UN's agenda on "sustainable development" in business operations and on the use of data from this reporting to place more pressure on businesses to fulfill the UN's environmental and social goals.
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