UN-ESG

Report Examines Corporate BHR Due Diligence Mandates

April 29, 2019

The Global Business Initiative on Human Rights and law firm Clifford Chance have published a briefing examining how corporations should set up “human rights due diligence processes” and reporting mechanisms to ensure their compliance with legal and regulatory requirements shaped by the business and human rights (BHR) agenda.
EU Agency Welcomes Addition of Climate Impacts to Corporate Reporting Rules

April 29, 2019

The European Securities and Markets Authority has praised the European Commission’s proposal to include in non-binding Guidelines on corporate non-financial reporting a supplement on “climate-related disclosures” and issued a set of recommendations on further ways to improve the quality of EU businesses’ non-financial disclosures.
BlackRock Launches Sustainability-Focused ETFs

April 26, 2019

IR Magazine reports that, as the UN and activists seek more transparency from financial companies on the “sustainability” impacts of investments, asset management giant BlackRock has launched six exchange-traded funds (ETFs) offering public data on the environmental, social, and governance (ESG) implications of the assets contained in each fund.
Norwegian Wealth Fund Divests from Fossil Fuel Exploration

April 04, 2019

The Guardian reports that Norway’s $1 trillion sovereign wealth fund has announced it will remove investments from companies engaged in oil and gas exploration in an effort to reduce exposure to oil prices that are declining as UN and activists increase pressure on companies to switch to renewable energy projects.
Standard Setters Seek Global Alignment of “Sustainability” Reporting

April 04, 2019

Standard setters and others participating in the Corporate Reporting Dialogue are engaged in an international consultation process considering how best to align frameworks for corporate reporting on “sustainable development” and how to integrate social and environmental data into financial reports.
New York Yankees Sign UN Climate Action Framework

April 03, 2019

Demonstrating the ongoing pressure from the UN and nongovernmental organizations on businesses to show they are seeking to combat global warming, the New York Yankees baseball club has signed on to the UN Sports for Climate Action Framework, pledging to reduce and offset its carbon emissions and promote “climate awareness.”
US Opposes "Prescriptive" Global Approach to Plastics Regulation

March 18, 2019

At the recent UN Environment Assembly in Nairobi, US diplomats warned against an overly “prescriptive” approach to global governance of plastic waste, opposing the approach proposed by Malaysia and Turkey of creating a legally binding treaty to cut down on plastic production.
UK Pushes Contractors on Social, Environmental Agenda

March 14, 2019

The BBC reports that the UK government has announced a plan to require government contractors to take action on labor standards and “environmental sustainability” in their global supply chains.
UN Launches “Big Data” Environment Initiative at Business Forum

March 13, 2019

During the second session of its Science-Policy-Business Forum, the UN Environment Programme launched an initiative seeking to harness artificial intelligence and other technologies to build massive stores of global data with the aim of advancing the UN’s broad environmental agenda.
EU Institutions Agree to Standards on Financial Sustainability Disclosures

March 08, 2019

The European Parliament and Council of the EU have agreed to uniform EU standards governing how financial firms must inform investors of the environmental and social impacts of their investment decisions.