The European Parliament voted today on rules that would make companies more accountable to their shareholders, making a step towards a more accountable and sustainable financial system, according to Friends of the Earth Europe, ShareAction and WWF Europe.
The Shareholder Rights Directive is intended to tackle the lack of transparency between companies and shareholders – a significant barrier to challenging unsustainable business and investment practices.
European Commission President Jean-Claude Juncker today reaffirmed his commitment to CETA – the EU-Canada trade deal – calling it as "the best and most progressive agreement that we have ever entered into."
Reacting to European Commission Vice-President Valdis Dombrovskis' hearing this morning in the European Parliament regarding his assuming the portfolio for Financial Stability, Financial Services and the Capital Markets Union, Friends of the Earth Europe accountable finance campaigner Anne van Schaik said:
Europe needs to toughen-up its regulations for how investors deal with environmental and social risks, according to Friends of the Earth Europe and Global Witness.
A large number of forest fires have been discovered on Indonesian plantations owned by global palm oil companies Bumitama and Wilmar International. Despite new evidence that both companies violate their own ‘no deforestation’ policies, major U.S. and European investors have not taken significant steps to address these problems, according to a new report released today.
The European's Commission's proposal to increase the use of non-traditional banking systems across Europe - known as the Capital Market Union (CMU) initiative – poses major risks to people and the environment, a coalition of European civil society groups has stated today.
Food speculation by banks and financial institutions has contributed to rapid and unpredictable swings in food prices over recent years, with devastating impacts on poor people in developing countries. The European Union will introduce new regulations which take small steps towards curbing the financial speculation on food crops, according to Friends of the Earth Europe, after a deal was struck last night between the European Parliament and Greek EU Presidency.
Food speculation by banks and financial institutions continues to contribute to rapid and unpredictable swings in food prices. Yet, corporate lobbying on the Markets in Financial Instruments Directive (MiFID) – which sets new regulations for financial markets – has undermined attempts to curb this destructive practice, according to Friends of the Earth Europe. This will allow speculators to continue profiteering at the expense of the world's most vulnerable.
Activists from Friends of the Earth Europe and Indonesia have completed an awareness-raising tour of Europe, bringing their experiences of environmentally and socially destructive palm-oil production in South East Asia, to the continent most responsible for financing it. Palm-oil companies, often with the backing of European investors, have been involved in land-grabbing, deforestation and the illegal production of palm-oil in Indonesia, according to Friends of the Earth Europe.
Illegal and harmful production of palmoil in Indonesia is continuing, reveals a new report released today by Friends of the Earth.
The study concludes that voluntary guidelines, such as those established by the Round Table on Sustainable Palm Oil (RSPO) and the Environmental, Social and Governance policies (ESG) of European investors have not led to any significant improvement in the situation.