Dirty Profits 1-6

Dirty Profits 6: 

The global extractives industry is heavily involved in some of the worst labour, environmental and human rights violations. The rights of communities, farmers and indigenous people are being trampled in the push for ever more extraction. Indeed all businesses must respect and contribute to the society where they operate, and investors too have a critical role to play, particularly in the current mining upturn.   ... →

Syndicate of banks, including European banks, signs agreement with Norilsk Nickel for 2,5 Billion over five years.

Norilsk Nickel, as reported in our previous Dirty Profits 5 report , has had serious concerns in relation to environmental pollution and health problems for the local population. In 2009, the Norwegian Government Pension Fund excluded Norilsk Nickel due to severe environmental degradation at the company’s Polar Division and in particular surrounding the City of Norilsk.   ... →

Banking and Investment Funds: Tax evasion

A survey of German Federal Finance Ministeries by the ‘Süddeutsche Zeitung’ showed that a loophole within the tax system was being severely exploited by German financial institutions until it was modified in 2012. This loophole allowed banks and their business partners to receive several times the value of one capital gains payment. In the Bundesland Hessen investigations discovered up to 30 cases with an estimated value of 979 Million Euros.   ... →

“The banks and society: rebuilding trust” report

The Ecumenical Council for Corporate Responsibility (ECCR) published a new report titled “The banks and Society: Rebuilding trust”. The report addresses the following topics: financial exclusion, responsible credit, gender equality in employment, asset management, project financing, money laundering, lobbying, participation in the creation of public debt, speculation, tax avoidance, risk management, pay policy, and transparency. It also describes the activities of the largest banks in the UK and Ireland and raises many questions about their actions.   ... →