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Banking sector

This category contains 34 posts

International standards on sovereign debt and business and human rights: Can parallel lines ever meet?

Sovereign debt restructurings, as can be seen from examples like Greece and Argentina, are difficult, often traumatic experiences for the sovereign debtor and its citizens. It is invariably the case that in a sovereign debt restructuring (SODR), the sovereign, because it either has lost access to financing or can only obtain it on more expensive … Continue reading »

Following the Money: Illuminating the path to justice for global land grabs

This year, our organization, Inclusive Development International, launched the Follow the Money initiative – a new tool to fight land grabs and other corporate abuses.  It’s a simple idea, but we believe it has the potential to be a game-changer. Every year, more than 15 million people are forcibly displaced from their land, housing and … Continue reading »

Most banks still failing to deliver on UN business and human rights principles

BankTrack recently published the second edition of its “Banking with Principles?” report, evaluating the progress of global private sector banks towards integrating the UN Guiding Principles on Business and Human Rights into their policies, due diligence processes and reporting. The report is an update to our December 2014 benchmarking exercise, with its scope expanded from … Continue reading »

Fed Up: The urgent need to broaden the circle in monetary policy-making

The Fed Up campaign reached new heights last month when 120 community leaders and organizers from around the country sat down with ten of the Federal Reserve’s Presidents and Governors for an unprecedented on-the-record conversation about monetary policy and Fed governance in Jackson Hole, Wyoming. Workers and community leaders from mostly Black and Latino communities … Continue reading »

Brazil: In 100 days, Olympic speed for retrogression on rights

The coup currently on course in Brazil, with great chance of succeeding in the next 30 days, has many faces and short- and long-term effects for the Brazilian population. In little over 100 days of interim government, the politically conservative and economically liberal agenda is being rapidly designed and raising fear among the most vulnerable … Continue reading »

Central banks’ functions and human rights: Signs of alignment

The work of central banks is not easily understood and often takes place out of direct public view. Equipped with traditional macroeconomic tools of the trade, central bankers fulfill their main function – to keep prices stable by fighting inflation – through regulation of money supply and interest rates. In addition to this monetary function, … Continue reading »

Most banks looking the other way on labor rights violations, new report finds

In late 2014, BankTrack benchmarked banks on how they were integrating their responsibilities under the UN Guiding Principles into their policies, processes and reporting. The results were not encouraging: on a scale of 12, the average score was 3. Now BankTrack has launched a series of Human Rights Impact Briefings, to follow up on that … Continue reading »

Still banking on land grabs: Australia’s big four banks and improper land acquisitions

“They did not give us any warning ahead of time they just came and cleared the land…people tried to stop the bulldozer.” “Makara”, Kampong Speu Cambodia.   Almost two years ago, Oxfam’s Banking on Shaky Ground report revealed that Australia’s big four banks – the Australia and New Zealand Banking Group (ANZ), the Commonwealth Bank … Continue reading »

Can human rights actors speak the language of finance?

Financiers can have significant influence over the operations of multinational companies and their role needs to be the subject of greater interrogation, in theory, policy and practice. Financial institutions are the less visible players in the work of corporations. This is probably why, in the international business and human rights debate, there is little focus … Continue reading »

Financial sector voluntary reporting initiatives not enough, report claims

The debate about regulatory versus voluntary reporting that should be required of financial institutions is very much alive. This is one of the messages coming out of the Transparency and Accountability in the Financial Sector study done by the the international civil society network Fair Finance Guide International (FFG). The report, launched last summer, examined key … Continue reading »

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