Report assesses financial institutions responsibility to respect human rights: Case study on extractives
[Business & Human Rights Resource Centre invited ABN Amro, Allianz, APG, CNPC, Delta Lloyd, Generali, GlencoreXstrata, ING, Legal & General, ONGC, Rabobank, Shell to respond - responses & non-responses provided.] In December 2013, the Dutch Fair Bank Guide and the Dutch Fair Insurance Guide, as part of an initiative by Amnesty Netherlands, issued a report assessing the extent to which 16 financial institutions comply with the responsibility to respect human rights, as set out in the UN Guiding Principles, with regard to their investments. The report examines financial institutions policies & practices towards 10 extractive companies associated with severe human rights abuses. The extractive companies selected were Barrick Gold, Freeport-McMoran, Glencore Xstrata, Goldcorp, Oil and Natural Gas Corporation (ONGC), PetroChina/CNPC, Posco, Shell, Trafigura, and Vedanta Resources.
By Tjibbe Hoekstra2021-05-10T15:53:00+01:00
Pension funds should be careful entering into agreements with NN Investment Partners until there’s more clarity about the future of the asset manager, according to consultants. But existing customers have little reason to be worried, they believe.
“Uncertainty about the strategic direction of an organisation never has a positive impact,” said Frans Verhaar of the consultancy bfinance, responding to last week’s news that NN Group is putting up its asset management arm for sale.
“You want to be relatively sure that the organisation you pick today will not turn out to be a radically different one in a few years’ time,” Verhaar added.