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5 Nov 2018

"Historic vote" in EU Parliament calls for stronger due diligence regime for investors

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On 5 November 2018, the European Parliament voted to adopt a stronger due diligence regime, and a more robust framework to define sustainability risks when it comes to investments. Groups including NGO Global Witness have called the vote a "historic vote" and say it could pave the way for a more ethical system of financial investment across the EU. They have also called on EU Member States to support the Parliament's initiative as part of the EU's Sustainable Finance Action Plan. For more information on the EU Sustainable Finance Action Plan see here.

Note: A recent briefing released by Global Witness alleged that EU-based investors are regularly involved in funding projects linked to human rights abuses. For our coverage of the Global Witness briefing, including company responses see here