ESG

NGO Calls on Facebook to Set up Data-Processing Audit

July 23, 2018

The nongovernmental organization Access Now has released an open letter calling on Facebook to submit to an independent audit of its data-processing practices and agreements on data disclosure, to perform a global human rights impact assessment, and to promote “comprehensive data protection” regulations.
Businesses Seek UN Approval for Climate Plans

July 18, 2018

The UN Framework Convention on Climate Change reports that over 114 companies around the world have submitted their action plans to combat global warming to the UN for approval under the Science Based Targets initiative, aimed at pressuring corporations to reduce their greenhouse-gas emissions in line with the UN’s Paris climate accord.
NGO Blames Supermarkets for Global Labor Rights Abuse

July 12, 2018

The nongovernmental organization Oxfam has launched a campaign pressuring major supermarket chains to end “brutal working conditions” and labor rights violations in their global supply chains and “to radically improve transparency around their food sourcing policies.”
GRI Receives Post on EU Sustainable Finance Group

July 11, 2018

The European Commission has appointed the Global Reporting Initiative (GRI), an organization that pressures companies around the world to publicly disclose their handling of the social and environmental issues, to its Technical Expert Group on Sustainable Finance that will aim to align European investments with the goal of a “greener, more equitable economy.”
Stock Exchange Federation Releases Sustainability Reporting Guide

July 11, 2018

The Global Reporting Initiative (GRI) has applauded the World Federation of Exchanges’ publication of revised sustainability guidance for its member stock exchanges, setting out 30 environmental, social, and governance metrics on the basis of which companies should publicly disclose their social and environmental impacts.
Academic: Finance Industry Must Develop "Social Conscience"

June 28, 2018

Professor David Kinley of Sydney University asserts that finance companies bear a responsibility to "find a social conscience" and remove their investments from companies that do not embed the global human rights agenda in their operations and thus fail to operate with a so-called "social license."
NGO Calls for Disclosure of Extractives Deals

June 28, 2018

The nongovernmental organization Oxfam has called for all extractives companies to commit to publish the terms of their oil, gas, and mining contracts with governments to expose potentially corrupt deals and provide fodder for civil society criticism that these companies are not doing enough to fund economic and social rights in the countries in which they operate.
UK Seeks Data from Territories on Corporate Ownership

June 28, 2018

Liz Heron writes that the UK government has ordered overseas territories to publish registers of the beneficial ownership of companies within their borders before the end of 2020 to prevent corporate and individual tax avoidance.
Wells Fargo Plans $200 Billion for "Sustainability"

June 26, 2018

Wells Fargo has announced that, as part of the UN's plans for worldwide investments into climate-friendly projects, the US multinational bank will invest $200 billion in "climate action and sustainability" by the year 2030 and regularly report on its progress in compliance with standards issued by the global Task Force on Climate-related Financial Disclosure.
FIFA Pledges to Offset World Cup Carbon Emissions

June 26, 2018

The International Federation of Association Football (FIFA) recently announced that it would work with UN bodies to fund projects aiming to offset the greenhouse gas emissions created by travel of attendees to this year's World Cup, in an effort to help fulfill the goals of the 2015 UN Paris climate deal.