UN-ESG

German Minister Pushes Global Governance on "Tax Havens"

April 18, 2016

In the wake of the "Panama Papers" financial information leak, German Finance Minister Wolfgang Schäuble has called for global governance to stop "tax evasion" and for the development of a tax information exchange system that prevents banks from using foreign "tax havens" with little to no financial reporting requirements to store their funds.
Pension System Pushes Climate Resolution at Mining Company

April 15, 2016

Rob Kozlowski writes that, as part of the wave of activist investors pushing greater corporate transparency on climate change at energy and mining companies, the California Public Employees' Retirement System has introduced a shareholder resolution that would require mining company Rio Tinto to disclose its efforts to counter global warming.
GRI Pushes Stock Exchange, Government Reporting Requirements

April 15, 2016

The Global Reporting Initiative ("GRI") has published a press release applauding efforts from stock exchanges and governments around the world to set out guidelines and, in some cases, requirements for businesses to report on "environmental, social, and governance" factors in addition to their financial information.
GRI Builds Network to Advance "Sustainability" Agenda

April 14, 2016

In a recent press release, the Global Reporting Initiative ("GRI") explains how it works with a network of UN agencies, governments, stock exchanges, and other organizations to pressure businesses to engage in reporting on and fulfillment of the UN's comprehensive Sustainable Development Goals.
EU Proposes Country-by-Country Corporate Tax Reporting

April 14, 2016

Politico reports that a European Commission proposal would require multinational companies operating in the EU with a turnover exceeding EUR 750 million to report taxes they pay and other financial information for each EU country in which they operate and for every country outside the EU that, according to the Commission, does not "abide by tax good governance standards."
NGO: Governments Must Force Banks to Respect BHR Agenda

April 14, 2016

The German nongovernmental organization Facing Finance has published a report asserting that banks have failed at self-regulation on business and human rights ("BHR") and environmental issues and calling on governments to impose BHR and environmental reporting requirements on financial companies.
Litigants Seek Corporate Liability for Supply-Chain Forced Labor

April 13, 2016

The nongovernmental organization Human Rights First has published an update on recent litigation in which plaintiffs have attempted to use a California law requiring corporate reporting on efforts to end forced labor in their supply chains and the US Alien Tort Statute to hold US businesses liable for connections to foreign companies that use forced labor.
UK Commissioner Outlines Supply Chain Reporting Requirements

April 12, 2016

UK Independent Anti-Slavery Commission Kevin Hyland has published an open letter to British businesses stressing the need for transparency and a "proactive approach" by large businesses using their bargaining power to comply with a new law seeking to eliminate human trafficking and modern slavery throughout corporate supply chains.
NGO Guide Highlights Complexity of Supply Chain Forced Labor

April 12, 2016

A guide from the nongovernmental organization Sedex on how auditors and businesses can root out forced labor in their supply chains spotlights the complexity for companies in determining whether working conditions at a supplier amount to "extreme forms of exploitation" that could lead to liability.
GRI Maintains Push for Companies to Implement SDGs

April 11, 2016

The Global Reporting Initiative ("GRI") has called for businesses to go "beyond reporting" and contribute to the fulfillment of the UN's comprehensive Sustainable Development Goals ("SDGs") for the year 2030 in part by embracing changes required for "sustainable consumption and production."