On 7-11 May there was the second meeting of the UN Working Group on Business and Human Rights at the UN Human Rights Council. Meeting included an consultation open to stakeholders. Portal Business & Human Rights Resource Centre published the occurrence of such prepared by Amnesty International, SOMO and FIDH.
Oxfam America sent a lawsuit against the SEC (U.S. Securities and Exchange Commission) SEC is already a year late with the release of regulations which would enforce companies to provide information on how much money they provide to foreign governments. This instrument is designed to curb the practice of corruption in developing countries.
Rainforest Action Network, BankTrack and the Sierra Club released the “Coal Finance Report Card 2012”, their third annual ranking of the largest financiers of mountaintop removal coal mining and coal-fired power plants. The report looks at the stated policies for mountaintop removal and coal financing from each of the largest US Banks and assigns a letter grade to how well they uphold these policies based on investments, transactions and ownership of coal mining and coal burning utility companies. ... →
The commercial bank West LB launched a new environmental policy in February under which it withdrew from the financing of investment in oil and gas extraction in the Arctic. The bank decided that overall the projects are unsustainable. Meanwhile, F&C, one of the leading London institutional investors with an SRI fund, has decided to drop its holding of Cairn from its ethical portfolio. ... →
Polish news website NaTemat.pl conducted an extensive interview with Daniel Ribeiro. Daniel explains in an interview how the multinational corporations use weakness of the developing countries. Moreover Daniel speaks about ineffective voluntary practices in the area of human rights and what impact financial institutions have on developing countries.
Danish Institute for Human Rights released a report: “Values Added: The Challenge of Integrating Human Rights in the Financial Sector.” It identifies the challenges and potential benefits of integrating the concept of human rights to the work of financial institutions.
The report is available on Business & human-rights website: