Exploring human rights and environmental due diligence regulations for banks

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Presented by

Laura Canas Da Costa, Senior Global Policy Expert

About this talk

UNEP FI is partnering with ECOFACT to host a series of webinars on key thematic issues in emerging sustainable finance regulation and banking supervision. Our second webinar will explore the increased regulatory momentum for human rights and environmental due diligence requirements for banks globally. Human rights and environmental issues have become a core consideration for corporations’ business decisions, include those of banks. Banks can have a significant influence over their clients’ corporate governance and human rights practices. Many leading banks have hence begun to integrate human rights and environmental due diligence as part of lending and investment decisions. Such momentum has been guided by international “soft law” like the UN Guiding Principles on Business and Human rights. An increasing number of jurisdictions is also mandating such due diligence across their real economies and financial sectors. Notably, the EU is finalizing legislation on corporate governance and human rights and environmental due diligence, namely it’s Corporate Sustainability Due Diligence Directive (CSDDD). This webinar will cover: - The jurisdictions that have formally mandated human rights and environmental due diligence, including how and where these requirements apply to financial institutions. - The state of alignment between “soft law” / voluntary and regulatory approaches. - Challenges around defining value chains for financial institutions, in particular banks. - Banks’ implementation challenges and strategies used to address them. - Potential future developments banks might expect. The webinar will bring together latest research and analysis on regulatory developments, provides in-depth knowledge from practitioners in regulatory authorities and banks, and demonstrates practical tools with which banks better understand and implement regulatory requirements.

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United Nations Environment Programme Finance Initiative (UNEP FI) is a partnership between United Nations Environment and the global financial sector created in the wake of the 1992 Earth Summit with a mission to promote sustainable finance. More than 240 financial institutions, including banks, insurers, and investors, work with UN Environment to understand today’s environmental, social and governance challenges, why they matter to finance, and how to actively participate in addressing them. UNEP FI’s work also includes a strong focus on policy – by facilitating country-level dialogues between finance practitioners, supervisors, regulators and policy-makers, and, at the international level, by promoting financial sector involvement in processes such as the global climate negotiations.