Paper provides regulatory overview of legislations & frameworks relating to finance & human rights
"Finance & human rights: regulatory overview", April 2020
This short paper is intended as a general overview of the development of different legislations and frameworks that apply in the area of finance and human rights, underlining key aspects. It comprises EU regulation (in force and upcoming); national regulations and developments in Europe and, finally, voluntary frameworks.
1. EU regulation in force
• EU Directive 2014/95 regarding the disclosure of non-financial information and diversity information by certain large undertakings and groups...
• EU Regulation 2019/2088 on sustainability‐related disclosures in the financial services sector...
2. Upcoming EU regulation
• EU Taxonomy – Proposal for a Regulation on the establishment of a framework to facilitate sustainable investment...
• EU Regulation 2017/821 laying down supply chain due diligence obligations for Union importers of tin, tantalum and tungsten, their ores, and gold originating from conflict-affected and high-risk areas (endorsed 2017, in force 2021)...
3. National regulations in force on disclosure of specific human rights-related information or requiring human rights due diligence
• UK Modern Slavery Act (MSA)...
• French Corporate Duty of Vigilance Law (adopted in 2017 – in force)...
• Dutch Child Labour Due Diligence Law (approved in May 2019 – initially scheduled to enter into force in 2020)...
5. Voluntary framework...