UN-ESG

NGO Initiative Pushes Corporate SDG Finance in Asia

January 31, 2019

A group of nongovernmental organizations, finance companies, and academics have formed an Asia Sustainable Finance Initiative to push companies to place their investments in projects that support “sustainable economic, social, and environmental outcomes” aligned with the UN Sustainable Development Goals (SDGs).
EU Body Issues Guidelines for Corporate Climate Reporting

January 31, 2019

The European Commission’s Technical Expert Group on Sustainable Finance has issued a report recommending standards for disclosures on climate impacts corporations should make as part of their non-financial reporting obligations under EU law.
Abu Dhabi Exchange Joins UN Initiative on Fulfilling SDGs

January 17, 2019

The Abu Dhabi Securities Exchange has announced that it has joined the UN Sustainable Stock Exchanges Initiative as part of its efforts to pressure companies to ramp up efforts to fulfill the UN Sustainable Development Goals (SDGs) and engage in public reporting on environmental, social, and governance (ESG) issues.
Australian State Creates Penalty for Failure to File Labor Reports

January 16, 2019

Komala Ramachandra of Human Rights Watch applauds the Australian state of New South Wales for creating an “independent anti-slavery commissioner” and creating financial penalties for companies that fail to comply with an Australian national law requiring companies to file annual reports on their efforts to rid their supply chains of forced labor.
Nestlé Releases Action Plan on Eliminating “Single-Use” Plastics

January 16, 2019

Food giant Nestlé has published an action plan outlining how it will comply with environmental activist demands to reduce plastic waste from its products by making all of its packaging reusable, recyclable, or biodegradable by the year 2025.
Activist Investors File Rights Resolutions at US Prison Operators

January 16, 2019

Reuters reports that activist investors including the Interfaith Center on Corporate Responsibility have filed shareholder resolutions at two US private prison operators seeking, in one case, to link executive pay to detainee treatment and, in the other case, to require annual reporting on the implementation of a human rights policy.
GRI Establishes Corporate Community on “Sustainability” Reporting

January 16, 2019

The Global Reporting Initiative (GRI) has established a GRI Community that will serve as a collaborative network of corporations, nongovernmental organizations, and “sustainability leaders” to support “peer-to-peer learning” among businesses to advance reporting on their efforts to embed the UN Sustainable Development Goals in their operations.
EC Sets out Draft Rules on “Sustainable” Investment Advice

January 16, 2019

Earlier this month, the European Commission (EC) published draft rules, which will go into effect upon the EU’s adoption of financial disclosure provisions on social and environmental issues, setting out how financial companies should consider the UN’s “sustainable development” agenda when advising clients on their investments.
Academics Push for Social, Corporate Reform Alongside Climate Action

January 16, 2019

An article on the website Project Syndicate blames the global lack of action to combat climate change on voters’ increased focus on social issues, calling for the linkage of “social justice” reforms, including “reining in” corporate power and governance, with climate change to adequately address the environmental phenomenon.
Activists Turn to “Climate Liability” Strategy

January 16, 2019

An article on the website Climate Liability News asserts that the year 2018 saw an “explosion” across the world of lawsuits demanding corporate compensation for alleged contributions to global warming and government action to force energy companies to limit their greenhouse gas emissions, including by using arguments in favor of “rights” against climate change.