ESG

GRI Touts 2017 Progress on "Sustainability" Standards

January 05, 2018

In a year-end review, the Global Reporting Initiative (GRI) explained its introduction of corporate reporting standards on the UN's "sustainable development" agenda to companies around the world and previewed its launch in 2018 of new "sustainability" standards on water, occupational health and safety, and corporate taxation.
Analysis Roots out Gaps in EU Non-Financial Reporting

January 05, 2018

Law organization Frank Bold has published an analysis of the implementation of the EU Non-Financial Reporting Directive in the UK, France, Germany, and Italy, finding that, while the new rules have extended corporate non-financial reporting in each country, governments must be clearer about which data is "material" and must therefore be included in reports.
Report Tracks Progress of EU Corporate Reporting

January 05, 2018

CSR Europe and the Global Reporting Initiative have produced a report tracking the implementation by EU member states of the supranational organization's corporate Non-Financial Reporting Directive, in a bid to analyze the success of the initiative in forcing businesses to publicly disclose their social and environmental impacts.
Canadian Investors Push for Corporate Climate Reporting

January 05, 2018

An article in The Globe and Mail highlights how pension funds and other investors are responding to pressure from nongovernmental organizations and others by pushing companies in which they invest to report on how they are preparing for a "low-carbon" future, despite a lack of consistent corporate disclosure guidelines on climate risks.
Google Seeks to Block Publication of Gender-Pay Data

January 05, 2018

The Guardian reports that, in a case highlighting the complications and costs involved in broad corporate reporting requirements, tech giant Google is calling on a federal US court to block a motion requiring it to turn over data on alleged pay disparities between men and women working for the company in a class-action suit launched by female employees.
UK Commission Seeks Law on Pensions' "Social Impact"

January 03, 2018

The Thomson Reuters Foundation reports on proposals from the UK's Law Commission for legislation requiring UK pension funds to review the "social impact" of the investments they make and mandating that the UK's Financial Conduct Authority issue guidance on considering "non-financial factors" when investing.
Article Reviews French, British BHR "Diligence" Legislation

January 03, 2018

A group of attorneys from law firm Freshfields Bruckhaus Deringer describe the current state of business and human rights (BHR) "due diligence" legislation in France and the UK, finding that France has moved beyond Britain in penalizing businesses that fail to show they are monitoring and addressing BHR risks in their supply chains.
Norway's Wealth Fund Plans Divestment from Oil, Gas

January 03, 2018

Bloomberg reports that Norway's central bank has announced plans to divest money in the country's $1 trillion wealth fund from oil and gas projects and companies "to spread the risks for the state’s wealth" beyond what it perceives as declining future fossil fuel prices in light of global climate action.
Lawyers Praise French BHR "Vigilance" Penalties

January 02, 2018

Stéphane Brabant and Elsa Savourey of the law firm Herbert Smith Freehills write that, while the elements of a French law creating a civil action for alleged victims of business and human rights (BHR) violations by French companies remain relatively weak, its penalties on companies for failing to monitor BHR violations of their subsidiaries could serve as an effective deterrent.
IOC Renews Gender Equality Deal with UN Agency

December 29, 2017

In its renewal of an agreement with UN Women, the International Olympic Committee (IOC) has accepted a responsibility to "empower" women through sports and to promote "women’s leadership and gender equality in the sport industry" around the world, as part of the IOC's implementation of the global business and human rights agenda.