UN-ESG

UN Creates Bank Framework for Climate Reporting

July 12, 2017

Spurred on by recent recommendations of a G20 task force charged with examining the need for climate change-related disclosures by financial institutions, the UN Environment Programme and 11 major banks have announced a partnership toward assessing and reporting on climate risks in their portfolios.
G20 Taskforce Pressures Companies to Disclose Climate Risk

July 12, 2017

The Group of 20 (G20) Financial Stability Board’s taskforce on climate-related financial disclosures has released a report calling on large corporations and investment firms to comply with extensive disclosure guidelines on “climate risk,” or face potential backlash from investors and ratings agencies.
EU Commission Releases BHR Reporting Guidelines

July 12, 2017

Paul Davies and Michael Green of Latham & Watkins analyze European Commission guidelines proposing best practices for companies reporting their non-financial information, including their contributions to the global business and human rights (BHR) agenda, as required by EU law, and suggesting areas for further reporting, such as on "board diversity," that goes beyond EU requirements.
Dutch Bill Pushes Companies on Global Labor Standards

July 10, 2017

As part of the global movement toward requiring corporations to contribute to the realization of the business and human rights (BHR) agenda, a paper by activist group MVO Platform describes a bill that has passed the Dutch Parliament's lower house requiring companies to issue a statement confirming their performance of "due diligence" in reducing child labor in their supply chains.
NGO Calls for Expanded Access to Corporate Information

June 22, 2017

In the Business & Human Rights Resource Centre's latest Corporate Legal Accountability Bulletin, the think tank calls for worldwide adoption of national legislation that would force companies to share internal information with alleged victims of human rights abuses to help them provide a basis for lawsuits against these businesses.
Oxfam Criticizes US on Corporate Tax Policies

June 20, 2017

A press release from activist organization Oxfam illustrates efforts by the UN and nongovernmental organizations to pay for the realization of their "economic, social, and cultural rights" agenda by calling for US laws forcing corporations to pay their "fair share" of taxes and demanding broad financial disclosure rules for businesses.
French Court Approves Law on Corporate "Vigilance" Plans

June 19, 2017

An article by Charles Dauthier and Sabine Smith-Vidal of Morgan Lewis describes the provisions of a French law that recently entered into force following review by the country's Constitutional Court imposing liability on French companies that fail to develop a proper "vigilance" plan to investigate their impacts on human rights and the environment.
US Agency Halts "Due Diligence" Rule on Minerals

June 15, 2017

According to Reuters, Acting Chairman of the US Securities and Exchange Commission (SEC) Mike Piwowar has announced that, during a court-mandated review of a rule requiring reporting on "conflict minerals" from Africa, the SEC would not require businesses to perform "due diligence" on their use of such minerals in support of such reporting.
Extractives Initiative Ratchets up Payment Reporting Rules

May 26, 2017

The nongovernmental organization (NGO) Global Witness reports that the board of the Extractives Industries Transparency Initiative (EITI), a global group that includes governments, NGOs, and oil, gas, and mining companies, has decided to require member companies to report all payments they make to governments for their projects around the world.
UK Official Criticizes "Modern Slavery" Reporting Efforts

May 25, 2017

In a recent letter to business leaders, the UK's Independent Anti-Slavery Commissioner Kevin Hyland OBE, who is charged with monitoring corporate implementation of the country's Modern Slavery Act, said he is "disappointed" with the level of compliance by businesses with the law's requirements to report on efforts to eradicate forced labor around the world.