JPMorgan Chase, which has the largest loan exposures to fossil fuel companies of any bank, committed to setting greenhouse gas emissions targets for its portfolio in line with the 2015 Paris climate agreement. This move comes as climate activists, consumers and regulators put pressure on financial actors to take action on climate change, and signals a growing momentum towards financial sector accountability for the environmental and social impacts of their investments and loans (JPMorgan Chase)

Week of 5 October 2020 JPMorgan Chase, which has the largest loan exposures to fossil fuel companies of any bank, committed to setting greenhouse gas emissions targets for its portfolio in line with the 2015 Paris climate agreement. This move comes as climate activists, consumers and regulators put pressure on financial actors to take action … Continue reading JPMorgan Chase, which has the largest loan exposures to fossil fuel companies of any bank, committed to setting greenhouse gas emissions targets for its portfolio in line with the 2015 Paris climate agreement. This move comes as climate activists, consumers and regulators put pressure on financial actors to take action on climate change, and signals a growing momentum towards financial sector accountability for the environmental and social impacts of their investments and loans (JPMorgan Chase)

Clothing retailer Boohoo’s directors knew for a fact that there were very serious issues about the treatment of factory workers in Leicester and whilst it put in place a programme intended to remedy this, it did not move quickly enough. Recommendations to the company include enhancing visibility of the full supply chain, promoting Tier 2 suppliers to Tier 1, establishing a new senior-level governance mechanism, having supply chain compliance as a standing item on every Board meeting agenda, educating buyers in the actual cost of fabricating garments, conducting due diligence and engaging suppliers (Alison Levitt QC Report)

Week of 5 October 2020 Clothing retailer Boohoo’s directors knew for a fact that there were very serious issues about the treatment of factory workers in Leicester and whilst it put in place a programme intended to remedy this, it did not move quickly enough. Recommendations to the company include enhancing visibility of the full … Continue reading Clothing retailer Boohoo’s directors knew for a fact that there were very serious issues about the treatment of factory workers in Leicester and whilst it put in place a programme intended to remedy this, it did not move quickly enough. Recommendations to the company include enhancing visibility of the full supply chain, promoting Tier 2 suppliers to Tier 1, establishing a new senior-level governance mechanism, having supply chain compliance as a standing item on every Board meeting agenda, educating buyers in the actual cost of fabricating garments, conducting due diligence and engaging suppliers (Alison Levitt QC Report)

Mandatory human rights due diligence (HRDD) being debated at the EU level will help level the playing field so long as it (1) is accompanied by consequences (i.e. liability) strong enough to ensure companies do carry out HRDD, (2) is accompanied by accountability measures that incentivize companies to look at their full value chain – beyond those business partners that may give rise to liability risks, and (3) supports companies to conduct ‘quality’ HRDD, which includes certain key features of internal governance (Shift)

Week of 5 October 2020 Mandatory human rights due diligence (HRDD) being debated at the EU level will help level the playing field so long as it (1) is accompanied by consequences (i.e. liability) strong enough to ensure companies do carry out HRDD, (2) is accompanied by accountability measures that incentivize companies to look at … Continue reading Mandatory human rights due diligence (HRDD) being debated at the EU level will help level the playing field so long as it (1) is accompanied by consequences (i.e. liability) strong enough to ensure companies do carry out HRDD, (2) is accompanied by accountability measures that incentivize companies to look at their full value chain – beyond those business partners that may give rise to liability risks, and (3) supports companies to conduct ‘quality’ HRDD, which includes certain key features of internal governance (Shift)