Little will be done to curb harmful food speculation today as EU finance ministers meet to approve their position on the new Markets in Financial Instruments Directive (MiFID II) – which sets new regulations for financial markets. According to a broad coalition of environmental and development organisations, loopholes in the legislation will render it ineffective to prevent food speculation, and the resulting food price spikes that hit the poorest the hardest.
European banks and pension funds continue to finance one of the largest and most destructive palm oil giants Wilmar International, according to new research released today by Friends of the Earth Europe . Well known banks including HSBC, BNP Paribas, Deutsche Bank and Rabobank offer financial assistance to Wilmar valuing over one billion euro, and European and American financial institutions own shares in the company worth €621 million .
Getting companies to report on their use of resources, like materials, water, land and carbon, as well as their impacts upon human rights, will help move Europe towards a resource efficient future that benefits people and planet. This was the message of a debate organised on Tuesday by the European Coalition for Corporate Justice (ECCJ) and Friends of the Earth Europe.
Friends of the Earth Scotland today went to the Royal Bank of Scotland (RBS) AGM to ask the bank to disinvest in funding mountaintop removal for coal mining.
They posed as two 'bankers' with a replica mountain and symbolically ‘stuffed’ their faces with coal to feed their fossil fuel addiction.
Food speculation by banks and financial institutions continues to contribute to rapid and unpredictable swings in food prices, which hit the most vulnerable hardest. Today, finance ministers have the opportunity to curb this destructive practice, as the council of economic and financial affairs discusses its position on the Markets in Financial Instruments Directive (MiFID) – which sets new regulations for financial markets.
Nigerian farmers whose farmland was polluted by oil spills have submitted an appeal to the court in The Hague, together with Friends of the Earth Netherlands, following a ruling in January that acquitted Shell of responsibility for some of the charges brought against them.
Samsung Electronics has admitted for the first time that it uses tin in its products that's destroying tropical forests, killing coral and wrecking the lives of communities in Indonesia, Friends of the Earth England, Wales and Northern Ireland reveals today.
Between 2009 and 2012, French banks granted more than 4 billion euro in loans to European producers of agrofuels, and have issued these companies stocks and bonds for a total amount of more than 3 billion euro according to new research from Friends of the Earth France and Oxfam France. The groups called on French banks to stop financing agrofuel producers – who threaten global food security and are fuelling land grabs, especially in Liberia.
Social movements in Guatemala are being increasingly criminalised, repressed, intimidated and subjected to human rights abuses, according to representatives of indigenous and feminist social movements, including Friends of the Earth Guatemala.
Brussels, April 16 – A proposal released today by the European Commission to require large European companies to report on environmental and social issues will not guarantee ethical corporate behaviour according to the European Coalition for Corporate Justice (ECCJ).