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EU Council Approves Tightening of Carbon Permit System
March 21, 2018
The Council of the EU has approved new rules, applicable from the year 2021, for the EU's Emissions Trading System aiming to increase financial pressure on companies involved in the emission of greenhouse gases by ramping up the price of carbon permits under the system.
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Poor Countries Demand Tech Transfer at WTO Debate
March 20, 2018
At a recent discussion hosted at the World Trade Organization (WTO), a group of "least-developed" countries pushed the WTO's Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) to demand that developed countries fulfill their "obligations" to pressure companies to transfer technology to impoverished nations.
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NGOs Launch BHR Reporting Project for Garment Sector
March 20, 2018
The Sustainable Apparel Coalition and the Partnership for Sustainable Textiles have signed a letter of intent to coordinate their efforts to develop reporting and verification systems for due diligence and reporting of social and environmental impacts by companies in the garment industry in line with the UN Guiding Principles on Business and Human Rights (BHR).
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Class Action Targets Nestlé over Labor Reporting
March 20, 2018
Highlighting the potentially high costs of laws requiring public corporate disclosure of human rights and environmental risks, Reuters reports that a Massachusetts resident is seeking to open a class-action lawsuit against Nestlé accusing the company of deceptive practices for failing to disclose instances of child and forced labor in its global supply chain.
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IMF Chief Warns of US Tax Cut Impacts
March 19, 2018
Bloomberg reports that Managing Director of the International Monetary Fund (IMF) Christine Lagarde has warned that the recently passed US corporate tax cuts could fuel a "race to the bottom" in countries around the world, reducing revenue needed for public spending on defense, infrastructure, and social programs.
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