November 8

New Report: Financial Institutions in the EU Are Driving Harm to the Environment and Human Rights

Supported by 13 organisations from across the EU, the report’s findings underscore that while the financial institutions in the EU have nearly four times more financial assets than non-financial companies, many policymakers are pushing hard to exclude due diligence requirements for financial activities in the negotiations on the upcoming law.

The report zooms in to three cases of harmful finance, which exemplify the adverse impacts that the EU laws have so far allowed financial institutions to overlook or neglect: (1) Paraguay’s deforestation crisis; (2) environmental pollution and public health crisis in Colombia; (3) harm to coastal ecosystems and communities in the Philippines.

Photo courtesy of Matt Zimmerman.

Source: WWF (link opens in a new window)

corporate social responsibility, forests, governance, human rights