Abstract: Corporate social responsibility (CSR) can be split along two distinct lines. The first touches on the nature of corporate personality and is rooted in domestic law regulating enterprises specifically and legal persons generally. The second touches on the nature of the rights of individuals and is rooted in international law (and sometimes domestic constitutional law) defining the scope of the human rights of individuals and the consequential obligations of states and legal persons. Both conversations intertwine though they tend to operate autonomously. In both cases, however, the traditional focus of corporate responsibility has focused on the relationship between an operating company and its direct effects on individuals, society and the environment. That discussion remains contentious, conflicted and unresolved. But it ignores a critical actor—the financial institutions which provide operating capital to enterprises. This paper considers the corporate social responsibilities of financial institutions, including sovereign wealth funds, for the conduct of their borrowers. The focus will be the extent of any duty or responsibility of lenders to ensure that their borrowers comply with CSR obligations (or alternatively conforms to international human rights standards) as a core aspect of their own CSR obligations (or alternatively) of their responsibility to respect human rights. Section II examines the general regulatory framework. There are two aspects that are relevant. The first is to understand the scope and character of the legal norms that may be applied to enterprises generally with respect to their operation’s that might be understood as CSR-human rights related in nature. The second is to consider the range of non-legal normative governance rules that might apply. In the process it will be important to distinguish between a CSR based regulatory approach and a human rights based approach. Section III considers the application of these norms to financial institutions. This requites distinguishing between those obligations that apply to the internal operations of financial institutions generally, and those obligations that apply to the financial institution’s obligations with respect to its lending activities, that is with respect to its relationship with its borrowers. The essay ends with a brief examination of recent cases in which financial institutions undertook such a responsibility, and the ways in which that obligation was undertaken. Three different types of institutions are considered—private banks, sovereign wealth funds and international financial institutions (IFIs). The paper ends with a preliminary consideration of the consequences of this movement for domestic CSR in the U.S.
The Responsibilities of Banks, Sovereign Wealth Funds and Other Financial Ins...Larry Catá Backer
Extractive industries have been at center of CSR and environmental responsibilities debates at the national and international level. It has been noted that "The sector faces unique social and environmental challenges when operating in developing countries. Faced with these challenges, a number of Canadian companies are engaging in corporate social responsibility (CSR) initiatives, generally defined as the voluntary activities undertaken by a company to operate in an economically, socially and environmentally sustainable manner" (Building the Canadian Advantage: A Corporate Social Responsibility (CSR) Strategy for the Canadian International Extractive Sector). These generally involve direct compliance. Domestic law focuses on the law and regulatory frameworks of home and host states. Soft law focuses on national (to a small extent) and more generally in international framing mechanisms and indigenous law (national an international). In addition, private law also applies--to the extent that extractive enterprises build their own internal governance systems applicable through their production chains worldwide.
But increasing there is a need to think about indirect compliance: especially the responsibilities of financial institutions, suppliers, and upstream customers to gauge their conduct by the legal/normative compliance of the extractives enterprise itself.
This presentation focuses on financial institutions and their responsibilities with respect to the human rights responsibilities of their borrowers.
Financial Sector Responsibility for Human Rights Conduct of Borrowers: What W...Larry Catá Backer
Extractive industries have been at center of CSR and environmental responsibilities debates at the national and international level
The sector faces unique social and environmental challenges when operating in developing countries. Faced with these challenges, a number of Canadian companies are engaging in corporate social responsibility (CSR) initiatives, generally defined as the voluntary activities undertaken by a company to operate in an economically, socially and environmentally sustainable manner. Building the Canadian Advantage: A Corporate Social Responsibility (CSR) Strategy for the Canadian International Extractive Sector
To what extent are financial institutions responsible for the human rights breaches of their borrowers?
“While the obligation for the protection of human rights lies with the state, IFIs and their member states also have responsibilities to ensure that activities they support do not cause, or contribute to, human rights abuses by putting in place adequate safeguards.” Statement of Global Initiative for Economic, Social and Cultural Rights to UN Human Rights Council. How might these obligations constrain borrowers?
Legal Environment - International Business - Manu Melwin Joymanumelwin
Managers must be aware of the legal systems in the countries in which their firms operate, the basic nature of the legal profession (both domestic and international) and the legal relationships that exist between and among countries. Legal systems differ both in terms of the nature of the system and the degree of independence of the judiciary from the political process.
Global Corporate Social Responsibility (GCSR) Standards With Cuban Characteri...Larry Catá Backer
This paper suggests the issues that may face Cuba and enterprises, including U.S. based enterprises, in the wake of normalization. After the introduction, Part II considers briefly the local legal and political context in which enterprises may operate in Cuba, with particular focus on Ley No. 118/2014 (De la Inversión Extranjera), and its contextualization within the legal structures of Cuban macro-economic policy. Part III then outlines two important standards systems for global CSR with effect in Cuba, the OECD’s Guidelines for Multinational Enterprises and the U.N. Guiding Principles for Business and Human Rights. Part IV then considers the ways in which MNEs may have to approach their investment activities in light of these standards, the pressures for change they might produce, and the adverse effects their adverse effects on MNE decisions to invest or operate in Cuba.
Human Rights Fracture in Context--Differences in Approaches to Realizing Huma...Larry Catá Backer
The early fracture of the unity of human rights in the Universal Declaration of Human Rights into a focus on social economic and cultural rights on the one hand, and on political and civil rights on the other has deep implications for the focus and practice of human rights in context, especially within home states in multinational enterprise supply chain systems. These differences are more pronounced where the political context of home states may be different from accepted forms common in developed states. This is particularly the case with two of the most important emerging states--India and China. India provides an example of the approach to human rights protection in which economic and social rights are vindicated through the application of political and civil rights within a state in which individual rights are understood as constraints against state power and courts serve a critical mediating role. In China, on the other hand, civil and political rights are vindicated through the state and its role in ensuring the provision of social, economic and cultural rights through the administrative apparatus of the state, within a state in which individual welfare is understood as a core obligation fo the state to be vindicated through governmental action. These differences have important ramification for the way in which international human rights frameworks, like the UN Guiding Principles, may be successfully transposed in context. These are explored in the paper through examples from both states.
The Responsibilities of Banks, Sovereign Wealth Funds and Other Financial Ins...Larry Catá Backer
Extractive industries have been at center of CSR and environmental responsibilities debates at the national and international level. It has been noted that "The sector faces unique social and environmental challenges when operating in developing countries. Faced with these challenges, a number of Canadian companies are engaging in corporate social responsibility (CSR) initiatives, generally defined as the voluntary activities undertaken by a company to operate in an economically, socially and environmentally sustainable manner" (Building the Canadian Advantage: A Corporate Social Responsibility (CSR) Strategy for the Canadian International Extractive Sector). These generally involve direct compliance. Domestic law focuses on the law and regulatory frameworks of home and host states. Soft law focuses on national (to a small extent) and more generally in international framing mechanisms and indigenous law (national an international). In addition, private law also applies--to the extent that extractive enterprises build their own internal governance systems applicable through their production chains worldwide.
But increasing there is a need to think about indirect compliance: especially the responsibilities of financial institutions, suppliers, and upstream customers to gauge their conduct by the legal/normative compliance of the extractives enterprise itself.
This presentation focuses on financial institutions and their responsibilities with respect to the human rights responsibilities of their borrowers.
Financial Sector Responsibility for Human Rights Conduct of Borrowers: What W...Larry Catá Backer
Extractive industries have been at center of CSR and environmental responsibilities debates at the national and international level
The sector faces unique social and environmental challenges when operating in developing countries. Faced with these challenges, a number of Canadian companies are engaging in corporate social responsibility (CSR) initiatives, generally defined as the voluntary activities undertaken by a company to operate in an economically, socially and environmentally sustainable manner. Building the Canadian Advantage: A Corporate Social Responsibility (CSR) Strategy for the Canadian International Extractive Sector
To what extent are financial institutions responsible for the human rights breaches of their borrowers?
“While the obligation for the protection of human rights lies with the state, IFIs and their member states also have responsibilities to ensure that activities they support do not cause, or contribute to, human rights abuses by putting in place adequate safeguards.” Statement of Global Initiative for Economic, Social and Cultural Rights to UN Human Rights Council. How might these obligations constrain borrowers?
Legal Environment - International Business - Manu Melwin Joymanumelwin
Managers must be aware of the legal systems in the countries in which their firms operate, the basic nature of the legal profession (both domestic and international) and the legal relationships that exist between and among countries. Legal systems differ both in terms of the nature of the system and the degree of independence of the judiciary from the political process.
Global Corporate Social Responsibility (GCSR) Standards With Cuban Characteri...Larry Catá Backer
This paper suggests the issues that may face Cuba and enterprises, including U.S. based enterprises, in the wake of normalization. After the introduction, Part II considers briefly the local legal and political context in which enterprises may operate in Cuba, with particular focus on Ley No. 118/2014 (De la Inversión Extranjera), and its contextualization within the legal structures of Cuban macro-economic policy. Part III then outlines two important standards systems for global CSR with effect in Cuba, the OECD’s Guidelines for Multinational Enterprises and the U.N. Guiding Principles for Business and Human Rights. Part IV then considers the ways in which MNEs may have to approach their investment activities in light of these standards, the pressures for change they might produce, and the adverse effects their adverse effects on MNE decisions to invest or operate in Cuba.
Human Rights Fracture in Context--Differences in Approaches to Realizing Huma...Larry Catá Backer
The early fracture of the unity of human rights in the Universal Declaration of Human Rights into a focus on social economic and cultural rights on the one hand, and on political and civil rights on the other has deep implications for the focus and practice of human rights in context, especially within home states in multinational enterprise supply chain systems. These differences are more pronounced where the political context of home states may be different from accepted forms common in developed states. This is particularly the case with two of the most important emerging states--India and China. India provides an example of the approach to human rights protection in which economic and social rights are vindicated through the application of political and civil rights within a state in which individual rights are understood as constraints against state power and courts serve a critical mediating role. In China, on the other hand, civil and political rights are vindicated through the state and its role in ensuring the provision of social, economic and cultural rights through the administrative apparatus of the state, within a state in which individual welfare is understood as a core obligation fo the state to be vindicated through governmental action. These differences have important ramification for the way in which international human rights frameworks, like the UN Guiding Principles, may be successfully transposed in context. These are explored in the paper through examples from both states.
The Webster’s dictionary defines “lobby” to mean “a group of persons who conduct a campaign to influence members of a legislature to vote according to the group’s special interest”.
Going by the definition, lobbying is probably as old as democracy itself.
The presentation is a discussion on if it should be legalized in India.
This presentation by Prof. R Nieuwenkamp was made during the Promoting Responsible Investment in Myanmar Conference (4 March 2014, Yangon) at the session the opportunities for RBC in Myanmar.
Find out more at http://mneguidelines.oecd.org/2014-conference-promoting-responsible-investment-myanmar.htm
Governance Polycentrism--Hierarchy and Order Without Government in Business a...Larry Catá Backer
Presentation of Conference Paper, "Contested Collisions" University of Bremen sponsored by the Research Center 597 "Transformations of the State" Project A2, "The Juridification of Dispute Settlement in International Law."
lobbying is a part of the public relations. it helps in the promotion of some of the things. political leaders make a great impact in general public through the lobbying. they get their things done through the lobbying. there are some scams done through lobbying like 2g scam etc. it should be used for good not for bad.
Democratizing International Business and Human Rights by Catalyzing Strategic...Larry Catá Backer
Democratizing International Business and Human Rights by Catalyzing Strategic Litigation: The Guidelines for Multinational Enterprises and the U.N. Guiding Principles of Business and Human Rights From the Bottom Up
Unpacking Accountability: The Multinational Enterprise, the State, and the In...Larry Catá Backer
Businesses, states and civil society are thought to be accountable. But to whome, and how? Effective imposition of accounting regimes requires a more nuanced understanding of the structures of the character and ecologies of accounting. Thesis:
In a working system of accountability Corporate Violations of Human Rights, Labor and Environmental Standards all stakeholders in the system must (1) bring each other to account, (2) be brought to account and (3) bring oneself to account.
Presentation of paper: Realizing Socio-Economic Rights Under Emerging Global Regulatory Frameworks: The Potential Impact of Privatisation and the Role of Companies in China and India
Presentation prepared based on the Section 135 of the Companies Act, 2013 , Companies (Corporate Social Responsibility Policy) Rules, 2014 and Revised Schedule VII of the CA 2013.
The Webster’s dictionary defines “lobby” to mean “a group of persons who conduct a campaign to influence members of a legislature to vote according to the group’s special interest”.
Going by the definition, lobbying is probably as old as democracy itself.
The presentation is a discussion on if it should be legalized in India.
This presentation by Prof. R Nieuwenkamp was made during the Promoting Responsible Investment in Myanmar Conference (4 March 2014, Yangon) at the session the opportunities for RBC in Myanmar.
Find out more at http://mneguidelines.oecd.org/2014-conference-promoting-responsible-investment-myanmar.htm
Governance Polycentrism--Hierarchy and Order Without Government in Business a...Larry Catá Backer
Presentation of Conference Paper, "Contested Collisions" University of Bremen sponsored by the Research Center 597 "Transformations of the State" Project A2, "The Juridification of Dispute Settlement in International Law."
lobbying is a part of the public relations. it helps in the promotion of some of the things. political leaders make a great impact in general public through the lobbying. they get their things done through the lobbying. there are some scams done through lobbying like 2g scam etc. it should be used for good not for bad.
Democratizing International Business and Human Rights by Catalyzing Strategic...Larry Catá Backer
Democratizing International Business and Human Rights by Catalyzing Strategic Litigation: The Guidelines for Multinational Enterprises and the U.N. Guiding Principles of Business and Human Rights From the Bottom Up
Unpacking Accountability: The Multinational Enterprise, the State, and the In...Larry Catá Backer
Businesses, states and civil society are thought to be accountable. But to whome, and how? Effective imposition of accounting regimes requires a more nuanced understanding of the structures of the character and ecologies of accounting. Thesis:
In a working system of accountability Corporate Violations of Human Rights, Labor and Environmental Standards all stakeholders in the system must (1) bring each other to account, (2) be brought to account and (3) bring oneself to account.
Presentation of paper: Realizing Socio-Economic Rights Under Emerging Global Regulatory Frameworks: The Potential Impact of Privatisation and the Role of Companies in China and India
Presentation prepared based on the Section 135 of the Companies Act, 2013 , Companies (Corporate Social Responsibility Policy) Rules, 2014 and Revised Schedule VII of the CA 2013.
Similar to The Corporate Social Responsibilities of Financial Institutions for the Conduct of their Borrowers: The View from International Law and Standards
Human Rights Impact Assesments And Corporate ResponsibilityAviva Canada
This presentation is a companion piece to a larger work that looks at the grand tension between the corporate model of wealth generation and human
rights abuses. I advocate that the integration and implementation of pre-emptive risk management
tools can operationalise corporate human rights obligations within the UN Ruggie framework. In the
context of a case study analysis of water privatisation in Argentina, I have placed specific focus on the
corporate operationalisation of (human rights) due diligence utilizing a Human Rights Impact
Assessment model in its ex-ante project planning as an effective risk aversion-profit generation
model.
Business and Human Rights: MBA / Executive ModuleEthical Sector
Teaching Business and Human Rights: A teaching module for business school tutors. Business school students need to understand what responsibilities businesses have when it comes to human rights. This teaching pack is designed to give business school faculty sufficient material and teaching resources to enable non-specialists to introduce the subject: http://www.ihrb.org/publications/reports/teaching-module.html
Social Responsibility and Business Ethic ppt.pptxetebarkhmichale
Gender equality is crucial for achieving economic growth and development, but women still face inequalities that stifle progress. Women make up half of the world's population but only contribute to 37% of the global Gross Domestic Production(GDP), and the gender disparity is still an important issue that the world is fighting through generations.
In Africa, women entrepreneurs play a growing role in diversifying production and services. However, they are facing the problem of financial shortage; a recent report by the African Development Bank showed that there is an estimated $42 billion financing gap for female entrepreneurs in Africa. The study demonstrated that women are facing more difficult conditions than men entrepreneurs such as limited access to key resources (including land and credit), the legal and regulatory framework, and the socio-cultural environment. The economy's full potential cannot be realized if half of its population cannot fully contribute, and women have faced many hurdles in the entrepreneurship journey, prompting responsible bodies to devise affirmative solutions.
Ethiopia's female population is 49.8%, but small businesses owned by women only make up 16.5% of the total number of entrepreneurs. Limited access to finance, business networks, development services, and business management skills hinders women entrepreneurs. The government is promoting women entrepreneurs through initiatives like training and financial support. The Commercial Bank of Ethiopia (CBE) is introducing a customer-centric business model to cater to its customers' needs and values. The bank aims to increase the outreach of financial products and services to a larger population, particularly women who own business enterprises. The bank has established a micro business department to adjust itself with the micro business customers. These factors can be considered as business drivers and factors enforcing CBE to come up with a gender-specific solution.
To address the aforementioned issues, the micro business banking department is proposing a collateral-free loan product for women-owned enterprises to be launched by CBE. This would help to address the financing gap for formal MSMEs, ensuring comprehensive financial accessibility and services for women-owned enterprises. Furthermore, promoting financial inclusion and women's economic empowerment by financing women-owned enterprises can stimulate growth and form the backbone of vibrant economies.
Based on the feasibility study of women MSME financing undertaken by MBB department team, proposal on selected women owned MSMEs financing will found crucial to bridge the financial gap.
Therefore, this proposal aims to provide a method how CBE should finance for selected formal women-owned MSMEs in Ethiopia to alleviate their financing gap. It is being proposed that, the CBE shall start the product by making a pilot test for women-owned microbusinesses from Addis Ababa City Administration, with local stak
Why do companies need to consider embedding the UN Guiding principles on business and human rights? What is the current status of the UK Modern slavery Act? What other developments are we seeing?
Module 3 Cultures, Ethics and Corporate Governance.pptxNHITRNQUNH2
To understand the social responsibility of corporations toward their various constituencies around the world, in particular their responsibilities toward human rights
To acknowledge the strategic role that ethics must play in global management and provide guidance to managers to maintain ethical behavior amid the varying standards and practices around the world
To recognize the importance of managing interdependence and include sustainability in their long-term plans
For IAS, PCS, SSC, IBPS, Bank-PO,RBI, and Other One day Exams
MBA and International Economics (According to Syllabus of Different Universities)
Chapter Description:
1.Cultural Values
2.Ethics
3.Relationship between cultural values and Ethics
4.Importance of cultural values and ethics in cross border business
Key Terms:
1.Ethnocentric: Of the idea or belief that one’s own culture is more important than, or superior to, other cultures.
2.Moral relativism: Refers to any of several philosophical positions concerned with the differences in moral judgments among different people and across different cultures.
3.Norms: Rules or laws that govern a group’s or a society’s behaviors.
The most common ethical issues in business involve:
1.employment practices
2.human rights
3.environmental regulations
4.corruption
5.the moral obligation of multinational companies
Corporate social responsibility on internationally operating organizations SayantanDasgupta16
Corporate strategy involves long term company-wide decisions and actions that can help an organization achieve its objectives. (Hill and Jones, 2008). It takes into account the environment through its structure of resources and competencies with the aim of achieving and exceeding the expectations of the stakeholder.
A presentation about recent developments in GVCs, especially about development in Germany
Similar to The Corporate Social Responsibilities of Financial Institutions for the Conduct of their Borrowers: The View from International Law and Standards (20)
The Algorithms of Ideology in Economic Planning: A Critical Look at Cuba’s N...Larry Catá Backer
Short Abstract: The development plans of Marxist Leninist states are usually given short shrift as expressions of ideology (at best) and propaganda (at its most pathetic). Yet there is value in considering critically these development plans, if only to get a sense of the mindset of high level functionaries with control over macro-economic policy, and to get a sense of the administrative cultures within which governmental middle managers will actually exercise discretionary authority. Especially useful in that context is the Cuban Communist Party 7th Congress’s Conceptualización del modelo económico y social Cubano de desarrollo socialista: Plan nacional de desarrollo económico y social hasta 2030: Propuesta de vision de la nación, ejes y sectores estratégicos in which the PCC posited that development can be better managed by rejecting the central role of markets, and substituting state planning in its place, taking an all around view of economic planning as inextricably bound up in social, political and cultural progress of a nation. The resulting structural proposal elaborated in the Cuban National Economic and Social Development Plan 2030 (PNDES) suggests behavior and choice algorithms with interesting implications even if only partially realized. It is particularly important as a vision for transition developed in the wake of anticipated changes in higher leadership and the effects of normalization with the United States. This essay critically considers PNDES in the current context national and regional context. It starts with a brief analysis of PNDES for what it can reveal about entrenched ideological perspectives that shape decision making and analysis within Cuban Party and administrative elites. It then considers the way these appear to manifest themselves as a set of self-referencing decision systems that substitute or supplant market or regulatory determinations. Those premises are tested against Cuban approaches to the pharma sector, among the most important targets of centrally planned development. The essay ends with an assessment of the consequences of Cuban current approaches for national and regional affairs.
“One Belt One Road and RMB Internationalization—A Strategic Alliance” Larry Catá Backer
Focus: Consideration of the peripheral structures of Chinese trade and investment policy and its potential effects on RMB internationalization. Thesis: RMB internationalization is one small part of a larger more ambitious project: (1) External: An integral part of Chinese trade and development policies; an interlocking set of objectives to solidify the all around central position of China; (2) Internal: Core of socialist modernization and development of productive forces within China; situating China at center of global commerce essential for next stage of economic and political development.
Structures of discussion: (1) Situating RMB internationalization within broader issues of Chinese policy; (2) The OBOR initiative and related development efforts. Last section considers putting the pieces together; and (3) Tie it back to issues of reality (trade and investment use) and perception (consensus of others states)
Why are OBOR and RMB internationalization linked? (1) Stability; (2) Development; and (3) Control
The Privatization of Governance: Emerging Trends and ActorsLarry Catá Backer
Globalization's challenges, tensions and contradictions, indeed all of the variables that contribute toward the trajectory of globalization and its relationship to its principal actors, merely reinforce the primacy of globalization itself as a singular orthodoxy. And it is an orthodoxy that is itself embedded in the more fundamental governance orthodoxy of the mid-1945s from out of which the framework of its conception and operation was itself embedded. That orthodoxy itself posited a hierarchy in which politics served as the legitimating instrument of power, and that the state served as the apex organization of politics. That organization, itself, was expressed as the institutionalization of mass power framed within a set of fundamental substantive norms the limiting principles of which would be set by the community of states dominated by its leading members. Thus, the appearance of challenge and opposition that has been more sharply drawn since the start of this century might be understood as occurring within a carefully protected orthodoxy the object of which is to protect the primacy of politics (and law) with the state as its apex.
And yet, one of the great ironies of globalization is the way in which its effort to cement a framework orthodoxy after 1945 has served to overturn orthodoxy itself, and in its place, has ushered in an age of heterodoxy that is both ordered but anarchic. This presentation introduces some of the basic trends and actors that have emerged from out of the orthodox conceptual framework of globalization, and the extent to which these are contributing to its transformation as a vector of governance.
Sovereign Wealth Funds, Capacity Building, Development, and Governance Larry Catá Backer
Abstract: Though operating in some form or another for over half a century, sovereign wealth funds (SWFs) did not become an object of general attention until the early part of the 21st century when a combination of the need of developed states for investment and the growing acceptability of state investment in private markets abroad made them both threatening and convenient. Assured by the framework of the Santiago Principles most states now view SWFs as a useful multi-purpose sovereign investment vehicle. Yet over the last decade or so, SWFs appear to have developed the potential to become an important instrument in good governance and development, especially for resource rich and capacity poor developing states. Following the lead of Chile, and with the patronage of IFIs, these SWFs have begun to serve objectives as and with development banks both within and beyond their home state. This paper considers the capacity of SWFs to serve ends beyond mere fund value maximization as envisioned in the Santiago Principles. It explores the value of SWFs as a means of enhancing governance capacity in weaker states, its utility in enhancing development objectives, the emerging landscape of joint ventures among SWFs for development and their intersections with emerging infrastructure and development banks, and their importance in enhancing the operationalization of emerging international business and human rights standards not only within their own organizations but through their investment activities. A brief assessment of these trends ends the paper. Lastly it develops a set of transformative changes in approaches to SWF instrumentality that SWFs, especially the smaller SWFs and those in developing states, might deploy in structuring and operating their SWFs within a globalized economic order. These strategies are meant to avoid the circular characteristics of current discussions grounded on premises of finance instrument silos and state based systems that no longer accord with the realities of, and fail to take advantage of the possibilities now offered through, global finance and can be grouped into the three transforming categories suggested in Section III: regionalization strategies; financial objectives strategies; governance strategies.
Diversity in Legal Education: Considering the Hollow Spaces Between Speech an...Larry Catá Backer
Prepared for Event: All in at Penn State Law: Addressing Diversity & Implicit Bias; Sponsored by the Diversity Committee Penn State Law. March 16, 2017.
Institutions of post secondary education, has been struggling with the very hard work of moving from the embrace of flowery statements of solidarity respecting diversity to actually making it a lived reality in the environment in which students, staff, faculty and particularly administrators operate. (Statement From the Penn State University Faculty Senate Chair ). Much of the discussion has focused on obligation centers--students, faculty and others at the lowest end of the institutional pyramid. But fairly little attention has been paid to responsibility centers--middle Managers (deans and their staff), central university administrators. Is it time to refocus the analysis of diversity and diversity related programs from conformity at the bottom to shaping responsibility at the top? How does an institution create robust measures to assess and discipline those whose responsibility is to shape the organizational cultures of their units?
Presentation Delivered January 26, 2017Johns Hopkins University School of Education. his presentation will help to build a broader understanding of governance issues and models within academe and provide an overview of challenges to shared governance derived principally from a university model of faculty senate. Professor Backer has served as a member of Penn State’s University Faculty Senate in the capacities of Senate Chair, Parliamentarian, Representative for the Law School, and Chair, Co-Chair and Member of various senate committees. He maintains a website devoted to faculty voice entitled Monitoring University Governance with the mission of “promoting transparency and engagement in shared governance in universities and colleges.”
Between the Judge and the Law—Judicial Independence and Authority With Chines...Larry Catá Backer
Abstract: What is the scope and nature of judicial reform? To what extent does borrowing from Western models also suggest an embrace of the underlying ideologies that frame those models? It is a common place in the West, whether in Common Law or Civil Law states, that the integrity of the judiciary depends on their authority to interpret law and to apply that interpretation to individual cases and the litigants that appear before the courts. That presumption, however, embeds premises about the organization of political and administrative authority that may be incompatible with those of states developing Socialist Rule of Law structures within Party-State systems. In Common law states those deep presumptions touch on the disciplinary role of judicial opinions as a constraint on judicial interpretation. In civil law states that discipline arises from the constraining principles of the legal codes themselves. In both the legislatures serve as the ultimate check in a complex dialogue with courts in three respects. First, judges serve a political role in their relation to law. Second, cases themselves serve an important political role as well. Third, courts begin to serve as the place where societal narratives are forged and popular expression is constructed and applied. In Socialist rule of law systems, the disciplinary systems are quite different and ought to produce a different relationship between courts, law, and the cases they are bound to apply fairly and consistently under law. This paper considers the way that the logic and grounding principles of Chinese Marxist Leninism may provide guidance in the construction of a judicial enterprise that is both true to its organizational logic and which enhances the authority of judges to serve litigants fairly. It suggests the points of compatibility and incompatibility in the ideologies of these distinct systems of judging and what it may mean for judicial reform in China. That consideration, in turn is based on a fundamental difference, in Socialist Rule of Law systems, between the authority to interpret law and the authority to apply law to an individual case. For Chinese judicial reform it is in the perfectibility of the judge that lies the perfectibility of law that in turn ensures the perfectibility of the judge. Part II considers in very broad strokes the relationship between the judge and law in the West. Part III then considers Chinese reforms touching on the relationship between the judge and the law, and the evolution of normative structures within which one can speak to judicial independence. Part IV then considers the project from the perspective of the grounding ideology of the Chinese state. From that fundamental distinction, the paper will propose a Socialist approach to the judicial function compatible with its own logic and legitimacy enhancing under global consensus principles for a well-organized and functioning judiciary.
中国,法律与外国人:国际舞台上的相互交融 ("China, Law, and the Foreigner: Mutual Engagements on a...Larry Catá Backer
外国人在中西法律交流中的角色类似于新中国前的情形。
这表明了中西法律交流的典型形态
这表明了中国人自身在“走出去”的战略中可以从中西法律交流中摄取经验。
内部思考:是否可以从党的“建设社会主义现代化”中发展出一套思维—以实事求是的态度来发展现代化。
外部:中国人是否可以避免西方曾经的错误,从而变成他国之上的“老外”?"China, Law, and the Foreigner: Mutual Engagements on a Global Stage," considered the structures of patterns of engagements between China and foreigners from the template well established by the end of the Qing dynasty. Drawing form those patterns, the paper developed a number of archetypes that I suggested could provide a useful framework for analysis. Those archetypes also suggested lessons for China as its now assumed the position of inferential foreigner in other states.
Central Planning Versus Markets Marxism: The Cuban Communist Party Confronts ...Larry Catá Backer
The 7th Congress of the Cuban Communist Party stands in stark contrast to its predecessor. The 6th PCC Congress appeared to usher in an era of at least limited opening up and the institutionalization of a private sector of sorts. Yet the 7th PCC Congress in many respects appeared to disappoint. Procedurally it appeared to mark a step back from the openness of the 6th Congress. And it offered little by way of political opening up, even an opening up ushering in more robust intra-Party democracy. Most importantly, the 7th PCC Congress appeared to fall far short of confronting the economic model reaffirmed in the 4th PCC Congress—a model of central planning and Soviet bureaucratic mechanisms substituting for any sort of markets based regulation of economic activity. This paper considers the potential and the missed opportunities of the 7th PCC Congress. A close reading of the 7th PCC Congress will suggest the limits of reform in Cuba. Ideological limits are suggested by a political timidity that has been built into the operating culture of the PCC. As a consequence the PCC is finding it hard to move even from soviet style central planning ideologies to Marxist market ideologies that have proven more successful in other states. The PCC is suffering from a paralysis that may be more dangerous to its long term authority than any machinations originating in its enemies. The paper ends with a consideration of options and likely movement over the short term moving forward.
China, Law and the Foreigner: Mutual Engagements on a Global StageLarry Catá Backer
Prepared for the Conference: “Foreigners and Modern Chinese Law”, Tsinghua University School of Law, Beijing, China, July 9-10, 2016; Organized by Profgessors Xu Zhangrun and Chen Xinyu
Transnational Law and the Multinational Enterprise: From Legal Concept/Method...Larry Catá Backer
At first blush, transnational law’s engagement with TNCs reflects the situational and ad hoc approach of the transnational law project. Transnational law tends to focus on the TNC as an actor apart, like the state, within transnational law situational processes.
Like the state, TNCs are governance singularities into which law can be poured, extracting coherent action. It moves the TNC from the construction of a category to consequential instrumentalism
But is this relationship between TNCs and transnational law construct TNCs too restrictively?
Does it fail to describe the reality of TNCs (the problem of definition)?
Should we consider TNCs as a transnational legal order in its own right (the systems issue)?
Should we consider TNCs instead as the constitution of production chains (the conflation issue)?
Presented at “Jessup’s Bold Proposal: Engagements with 'Transnational Law’ after Sixty Years” Transnational Law Institute, The Dickson Poon School of Law, King’s College, London, Friday-Saturday 1-2 July 2016
Normalization With Cuban Characteristics: How Might Cuba Navigate Normalizati...Larry Catá Backer
Cuba has constructed a tightly woven framework of macro-economic policy and political structures around a unique application of European Marxist-Leninism. That framework has proven durable even in the face of substantial economic crisis and a political situation increasingly subject to internal pressures. Closer working ties with the United States will only exacerbate the tensions and contradictions of the current system. If Cuba means to keep a Marxist-Leninist political structure, something will have to evolve.
Trail By Fire: Rana Plaza and Transnational Legal Orders Larry Catá Backer
Considering the construction of transnational legal orders through the lens of a deep study of the aftermath of the Rana Plaza Factory building collapse in 2013.
Analysis of the General Program of the Chinese COmmunist Party COnstitution as a basis for theorizing the fundamental principles of Chinese political and legal theory
Developing Social Media Policies for Universities: Best Practices and Pitfalls."Larry Catá Backer
The presentation highlighted the social media policies of US universities. The object was to catalog, make accessible, and provide a basis for comparison and discussion of policies. The ultimate objective will be to develop a model set of social media policy guidelines that balances the legitimate duty of universities with the human dignity and academic freedom rights of individuals.
University Faculty Senate Presentaiton: Overview of Contributions Report Marc...Larry Catá Backer
Penn State University Faculty Senate Committee on Faculty Benefits, Advisory and Consultative Report--An Overview of Contributions Report, March 17, 2015
Corporate Social Responsibility in Weak Governance ZonesLarry Catá Backer
Abstract: This paper considers the evolution of governance standards for determining the extent of an enterprises’ responsibilities to protect human rights in weak governance zones. The paper briefly describes the development of the standard and then evaluates the standard as it has been developed and framed within the U.N. Guiding Principles for Business and Human Rights and in the Organization for Economic Cooperation and Development’s Guidelines for Multinational Enterprises (OECD Guidelines). Particular attention will be paid to the Risk Awareness Tool for Multinational Enterprises which was developed to complement the OECD Guidelines following the call made by 2005 G8 Summit for the development of OECD guidance. The paper suggests the ways that CSR has been transformed, in some respects, to a mandate for assuming governance responsibilities in those states unable ort unwilling to institute systems of law that conform to international consensus standards on human rights. It also explores the challenges of the approaches of both efforts. Both acknowledge the autonomy of enterprises as directly responsible for the operationalization of international norms wherever they operate. Yet both also open the door to extraterritorial application of law. The same framework that advances the governance autonomy of enterprises also envisions them as the vehicles through which home states may project national power within host states with weak governance regimes. And this tension built into both frameworks, a tension that goes to the dual character of enterprises as both autonomous governance actors and as creatures of the states n which they are domiciled, that mark the potential and the challenge to the internationalization of regimes of CSR.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Premium MEAN Stack Development Solutions for Modern Businesses
The Corporate Social Responsibilities of Financial Institutions for the Conduct of their Borrowers: The View from International Law and Standards
1. The Corporate Social Responsibilities of
Financial Institutions for the Conduct of
their Borrowers: The View From
International Law and Standards.
Larry Catá Backer
W. Richard and Mary Eshelman Faculty Scholar, Professor of Law and International Affairs
Pennsylvania State University
Presented at 21st Annual Business Law Fall Forum, Innovating Corporate Social Responsibility: From the Local to the Global
Northwestern School of Law of Lewis & Clark College
Portland, Oregon -- 7 October 2016
2. Context
• To what extent are financial institutions responsible for the human rights
breaches of their borrowers?
• “While the obligation for the protection of human rights lies with the state, IFIs and their
member states also have responsibilities to ensure that activities they support do not cause,
or contribute to, human rights abuses by putting in place adequate safeguards.” Statement of
Global Initiative for Economic, Social and Cultural Rights to UN Human Rights Council
• How might these obligations constrain borrowers?
• Secondary responsibility of financial sector enterprises
• Loan making; Pricing; covenants
• Due diligence during life of relationship
• Two questions embedded here:
• What are the mandatory/discretionary CSR-Human Rights responsibilities of with
respect to its own internal operations
• To what extent do those responsibilities carry over to their custolmersin 2 respects:
• Which companies fincaincial institutions will do business with
• What the the conditions that financial institutions will impose on customers.
3. Roadmap for Discussion
• Overall objectives:
• Considers the corporate social responsibilities of financial institutions, including
sovereign wealth funds, for the conduct of their borrowers.
• The extent of any duty or responsibility of lenders to ensure that their borrowers
comply with CSR obligations (or alternatively conforms to international human
rights standards) as a core aspect of their own CSR obligations (or alternatively) of
their responsibility to respect human rights. International norm structures
• FIRST: Sources and scope of CSR responsibility
• Differences between CSR and human rights approaches
• Legal and societal (soft law)
• Application (techniques and methods)
• SECOND: Application of rules to Financial Institutions
• THIRD: Case Studies
• OECD
• SWFs
• Private Standards
4. National Law
• Basic structures
• CSR orientation rather than Human
rights
• Constraints of fundamental
corporate law principles
• Autonomous corporate personality
• Shareholder primacy
• Permissive rather than mandatory
• Benefit corporations exception
• Disclosure oriented
• (e.g. Dodd Franck ¶1502Conflict
Minerals; UK Modern Slavery Act)
• Comparison Cal. Transparency Act
and UK Modern Slavery Act (from
JD supra) 4
5. International Law
• Human Rights rather than CSR oriented
• General Human Rights Laws
• Large number in specific areas
• Substantive; some disclosure requirements
• International Bill of Human Rights (1948)
• Universal Declaration of Human Rights
• Covenants: International Covenant on Civil
and Political Rights (1966) with its two
Optional Protocols and the International
Covenant on Economic, Social and Cultural
Rights (1966).
• On Responsibilities of Economic
Enterprises Hard law—none
• New comprehensive Business and Human
Rights Treaty?
6. International Norms:
Soft law
• Soft Law—Objectives
• Norm creation
• Source for public lawmaking
and private governance
regimes
• Soft Law—Sources
• UN Guiding Principles
• OECD Guidelines for MNEs
• BITs with Human Rights
Components
• 3rd Party Standards
• MNE internal norms
• Social License for extractives Credit: Prof. Masahiko Iwamura, Soft Law and the State-Market
Relationship
7. UNGP
• Endorsed by UN Human Rights Council
• Does not create new CSR or HR legal
protections
• Polycentric: simultaneous obligations to states
and enterprises
• 3 part structure
• State duty to protect human rights
• Extends no further than legal obligations of
state
• Opens the door to extraterritorial application
• Corporate responsibility to respect human
rights
• International bill of human rights
• Human rights due diligence
• Obligation to work around host state
restrictions
• Remedial obligations for states and
enterprises
• Principally through state
• Also international and private mechanisms
John G. Ruggie, Special Representative of
UN Secretary General for Business and
Human Rights
8. OECD Guidelines for Multinationals
• Guidelines: recommendations addressed by governments to MNEs.
• They provide principles and standards of good practice consistent with applicable laws and
internationally recognised standards.
• Observance of the Guidelines by enterprises is voluntary and not legally enforceable.
• Cover a number of general areas
• transparency/disclosure, human rights, employment/industrial relations, environmental issues,
bribery/corruption, consumer protection, technology transfer, anti-competitive schemes, and taxation
• Expert letters and statements on the application of the OECD Guidelines for Multinational
Enterprises and UN Guiding Principles on Business and Human Rights in the context of the financial
sector, 2014
• Enterprises should carry out risk-based due diligence to identify, prevent and mitigate actual and
potential adverse impacts and account for how these impacts are addressed. (Guidelines Chp II, ¶ 10)
• Special toolkit for weak governance zones
• Extractives and weak governance zones HERE
• OECD Due Diligence Guidance: Meaningful Stakeholder Engagement
• Complaint procedures through National Contact Points.
• Have been used increasingly in two contexts
• NGOs to advance international normative agenda
• Labor unions to leverage national litigation
9. BITs with Human Rights Elements?
--Bilateral Investment Treaties
--typically deal with investment and investment protection;
--Cuban Bits tend to focus on state prerogatives
--Central focus
-internationalize national law;
-might discriminate in favor of foreign investors over domestic;
-stabilization provisions protect investment against domestic law;
-focus on expropriation
-focus on dispute resolution mechanisms (eg ICSID, etc.).
--Multilateral version:
--Trans Pacific Partnership (TPP)
--China’s One Belt/One Road
--Criticism: dispute resolution mechanism strips state courts of authority; internationalizes the
“law” of investment autonomous of human rights norms and national law
--Possibilities
-Incorporate HR norms in BIT subject to stabilization protection
-produce strong enforcement mechanism through arbitration
-Early Study HERE
--Challenges: (1) coherence between HR and trade bureaucracies; (2) harmonized legal basis; (3) stable
national governance (administrative expertise, resources, corruption)
10. 3rd Party Private Standards
•GRI (Global Reporting Initiative)
•Social, economic and rights based
reporting of economic activity
•Private-public partnerships
•ISO 26000 CSR
•EITI (Extractive Industries Transparency
Initiative;
•(2016 Standard)
•Private organizations
•Certification of compliance with
proprietary standards
•Monitoring services
•Effectively purchasing reputation
and privatizing norm creation and
administraiton
11. Internal MNE Norms
• Largest MNEs already have harmonized and
sometimes complex systems of CSR based
control of its supply and production chain
throughout their global operations
• Rio Tinto
• Barrick
• TransCanada
12. International Norms and Financial Institutions
• UNGP/OECD Guidelines
• UNPRI
• Equator Principles
• SWF
13. OECD Guidelines/UNGP
• UNGP
• ¶ 13 “directly linked to their operations”
• ¶ 19 effective integration of HRDD
• OECD Guidelines
• Contextual application
• Depends on the scope of the terms
“business relationships” and “directly
linked”
• Scope and application of ‘business relationships’ in
the financial sector under the OECD Guidelines for
Multinational Enterprises, 2014
• Due diligence in the financial sector: adverse
impacts directly linked to financial sector
operations, products or services by a business
relationship, 2014
14. 3rd Party Standards for Financial Institutions
• IFC Financial Valuation Toolkit
• “to help companies identify the optimum sustainability investment portfolio to
deliver maximum business and social value.”
• Equator Principles
• risk management framework, adopted by financial institutions, for determining, assessing
and managing environmental and social risk in projects.
• Guidelines for incorporation into loan documents
• U.N. Principles for Responsible Investment
• SWFs
• Ethics Guidelines
• Public-Private efforts
• PROTOCOLO VERDE AGENDA DE COOPERACIÓN ENTRE EL GOBIERNO NACIONAL Y EL
SECTOR FINANCIERO COLOMBIANO
• Generally IFC Sustainable Banking Guidance from Sustainable Banking Network Members
15. UN-PRI
As institutional investors, we have a duty to act in the best long-term interests of our beneficiaries. In this fiduciary role,
we believe that environmental, social, and corporate governance (ESG) issues can affect the performance of investment
portfolios (to varying degrees across companies, sectors, regions, asset classes and through time). We also recognise that
applying these Principles may better align investors with broader objectives of society. Therefore, where consistent with
our fiduciary responsibilities, we commit to the following:
Principle 1: We will incorporate ESG issues into investment analysis and decision-making processes.+
Principle 2: We will be active owners and incorporate ESG issues into our ownership policies and practices.+
Principle 3: We will seek appropriate disclosure on ESG issues by the entities in which we invest.+
Principle 4: We will promote acceptance and implementation of the Principles within the investment
industry.+
Principle 5: We will work together to enhance our effectiveness in implementing the Principles.+
Principle 6: We will each report on our activities and progress towards implementing the Principles.+
In signing the Principles, we as investors publicly commit to adopt and implement them, where consistent with our
fiduciary responsibilities. We also commit to evaluate the effectiveness and improve the content of the Principles over
time. We believe this will improve our ability to meet commitments to beneficiaries as well as better align our investment
activities with the broader interests of society.
--Sustainable financial system: nine priority conditions to address (2016)
16. Equator Principles
• The EPFI will, as part of its internal environmental and social review and due diligence,
categorise it based on the magnitude of its potential environmental and social risks and
impacts
• Client to conduct an Assessment process to address, to the EPFI’s satisfaction, the
relevant environmental and social risks and impacts of the proposed Project
• Address compliance with relevant host country laws, regulations and permits that
pertain to environmental and social issues in accordance with international standards
• EPFI will require the client to develop or maintain an Environmental and Social
Management System (ESMS)
• the EPFI will require the client to demonstrate effective Stakeholder Engagement as an
ongoing process in a structured and culturally appropriate manner
• the EPFI will require the client, as part of the ESMS, to establish a grievance mechanism
an Independent Environmental and Social Consultant, not directly associated with the
client, will carry out an Independent Review of the Assessment Documentation
• Incorporation of covenants linked to compliance
• The client to retain qualified and experienced external experts to verify its monitoring
information which would be shared with the EPFI.
• Client reporting requirements
17. Sovereign Wealth Funds
• Santiago Principles:
• GAPP 19.1. Subprinciple.
• If investment decisions are subject to other than economic and financial
considerations, these should be clearly set out in the investment policy and
be publicly disclosed.
• Explanation and commentary
• Some SWFs may exclude certain investments for various reasons, including
legally binding international sanctions and social, ethical, or religious reasons
(e.g., Kuwait, New Zealand, and Norway). More broadly, some SWFs may
address social, environmental, or other factors in their investment policy. If
so, these reasons and factors should be publicly disclosed.
18. SWFs: Norway Pension Fund Global
• History
• A new form of projecting public power through private markets. Described HERE.
• Structure
• Ministry of Finance
• Norges Bank
• Secretariat
• Applicable Standards
• Santiago Principles
• The Norwegian Government Pension Fund Global’s adherence with the Santiago principles 2015).
• Management Mandate (§2.2 Responsible Investment)
• Ethics Guidelines
• Ethics Council
• Authority
• Active Shareholding Global Voting Guidelines
• Exclusion
• Bound by OECD Guidelines? UNGP?
19. Norway SWF: Pension Fund Global
• Ethics Guidelines
• Section 3. Criteria for conduct based observation and exclusion of companies
Companies may be put under observation or be excluded if there is an
unacceptable risk that the company contributes to or is responsible for:
• a) serious or systematic human rights violations, such as murder, torture,
deprivation of liberty, forced labour and the worst forms of child labour
• b) serious violations of the rights of individuals in situations of war or conflict
• c) severe environmental damage
• d) acts or omissions that on an aggregate company level lead to unacceptable
greenhouse gas emissions
• e) gross corruption
• f) other particularly serious violations of fundamental ethical norms
• SANCTIONS: Observation versus Exclusion
20. A Glimpse at the Future Now: Case Studies
• Friends of the Earth Europe and
Friends of the Earth
Netherlands/Milieudefensie –
Rabobank
• Norway Sovereign Wealth Fund
Cases
• Private Bank Responsible Investing
Programs in Extractive Sector
21. OECD: -Friends of the Earth Europe and Friends of
the Earth Netherlands/Milieudefensie - Rabobank
• Large financial institution heavily involved in palm oil sector
• Rabobank states it expects its clients to respect rights and to obtain free, prior and informed
consent (FPIC) as a part of and guided by the Round Table for Responsible Palm Oil (RSPO)
principles & criteria and as part of the environmental and social impact assessment (ESIA)
process prior to embarking on a new palm oil development.
Rabobank will address the consequences of non-compliance with the FPIC requirement in
the provisions of its palm oil policy;
Rabobank handles complaints concerning negative impacts caused by clients. Rabobank
will modify its current approach to handling complaints. It will publish its complaints
procedure, including a time frame for the procedure;
• Privatization of enforcement of emerging rule systems for the management of
the palm oil production chains through the organs of financial institutions.
• Rabobank, then, is entrusted with global management of palm oil production
chains through its structurally differentiated self referencing governance system,
one founded on its relationship with its borrowers. (On the structural
characteristics here)
22. Norwegian Sovereign Wealth Fund:
• Recommendations from 2010, 2012 and 2014
regarding the companies Repsol S.A. and
Reliance Industries Limited
• On 1 December 2010 the Council on Ethics
recommended the exclusion of the companies
Repsol YPF (now Repsol S.A) and Reliance
Industries Limited from the Government Pension
Fund Global. In the Council’s view, the exploration
activity undertaken by the companies in Block 39
would increase the risk that any indigenous
peoples who may be living in voluntary isolation
within the block would come into contact with
outsiders, leading to potentially serious
consequences for these peoples’ life, health and
way of living. This would constitute an
unacceptable risk of the companies contributing to
serious and systematic human rights violations.
• Exclusion lifted when Repsol sold its interest
23. Norway SWF:
• Exclusion of San Leon Energy Plc for contribution to serious violations of
fundamental ethical norms
• The Council on Ethics for the Government Pension Fund Global (Etikkrådet for
Statens pensjonsfond utland) recommends the exclusion of San Leon Energy Plc (SLE;
SLGYY) from the Government Pension Fund Global because the company contributes
to serious violations of fundamental ethical norms through its onshore hydrocarbon
exploration in Western Sahara on behalf of Moroccan authorities.
• Same: Potash Corporation of Saskatchewan (6 December 2011)
• Indonesian Company PT Astra International Tbk Placed Under
Observation (Severe Environmental Risks)
• “The Council on Ethics for the Government Pension Fund Global (GPFG) recommends
that PT Astra International Tbk be placed under observation due to the risk that the
company may be responsible for severe environmental damage. The observation
relates to the company’s plantation operation in Indonesia. On 11 June 2015, Astra
announced that it would immediately be ceasing all logging and land conversion
while developing a new sustainability strategy.
24. Norway SWF:
• Incoherence or Discretion in Corruption and Investment
Approaches?--Petroleo Brasileiro SA (Petrobras) under observation
• Norges Bank has decided to place Petroleo Brasileiro SA
(Petrobras) under observation because of the risk of severe
corruption. Petrobras is one of the largest state owned petroleum
TNCs in Latin America and one that is deeply embedded in
corruption investigations (here and here (including the write off of
over $2 billion in bribe payments)) that reached all the way to the
office of the President of the Republic (here).
• Compare Corruption and Investment--Chinese Company ZTE
Corp. Excluded From Norway Sovereign Wealth Fund Investment
Universe
25. Privatization of Laws: Banks as Legislators
• Banks now serve as the means
through which non binding
international norm standards are
hardened within production
chains in those sectors in which
banks influence behaviors
through lending practices.
• Example of banking rule systems
in the extractives sector
26. HSBC: Mining and Metals Policies
• Private standards drawing from international soft norms
• Mixes risk management and CSR approaches
• “HSBC’s Mining and Metals Sector Policy provides guidance to its offices on sustainability
standards applicable to the Group’s involvement with this sector. The standards are based on
those accepted by the industry and by other stakeholders as representing best practice, and
are consistent with HSBC’s long-standing commitment to sustainable development.”
• Complemented by Equator Principles
• Scope
• The financial services covered by the Mining and Metals Sector Policy include all lending and
other forms of financial assistance, debt capital markets activities, project finance and
advisory work. The policy applies to equity capital markets and asset management where
practical, recognising the lower degree of influence the bank may have in these
circumstances.
• The mining and metals activities within the scope of the policy are: exploration; mine
development; mineral extraction and mine operation; mine closure and reclamation; and
primary processing of minerals.
• 2007 Mining and Metals Policies
• Policy
• Standards
27. HSBC: Policy
• The policy is consistent with, and builds on, HSBC’s Sustainability Risk Standard and its adoption
of the Equator Principles – voluntary guidelines which apply to project finance activities – as well
as the existing sector risk policies. In particular, HSBC will not provide financial services to the
mining and metals sector which directly support:
• Operations in UNESCO World Heritage Sites, unless the activities pre-date the UNESCO designation;
• The mining, processing and/or sale of uranium for weapons purposes;
• The mining or trading of rough diamonds not certified under the Kimberley Process Certification Scheme;
• Artisanal mining;
• Operations in wetlands on the Ramsar List (the Register of Wetlands of International Importance of the
Ramsar Convention on Wetlands); and
• Operations in Primary Tropical Moist Forests, High Conservation Value Forests or Critical Natural Habitats,
where there is significant degradation or conversion – unless legacy assets are involved (see below).
• Support where the disposal of tailings is in a river or shallow sea-water environment will only be
considered exceptionally where alternative options are not feasible and the benefits to local
communities are significant.
• HSBC has a restricted appetite for supporting individual operating sites where:
• Tailings storage facilities and waste rock dumps represent a material threat to human life or groundwater
(for example, from tailings dam failure or acid mine drainage);
• Mines are in an area of high seismic activity or exceptionally high rainfall, without adequate accident and
contingency planning in place;
• • Mines have no credible closure plan; and
• • Mines or metals operations are in areas where there are credible allegations of human rights violations.
28. HSBC: Standards
• HSBC looks to its clients to operate in accordance with relevant global, regional and
national laws, and the policy makes express reference to the following standards.
• International Cyanide Management Code: HSBC requires clients using cyanide in the mining of
gold to observe this Code or its equivalent.
• International Atomic Energy Agency: HSBC has a restricted appetite for financing uranium for the
power sector where IAEA standards are not met.
• European Union Emissions Trading Scheme: HSBC expects clients covered by the scheme to
comply with their allowances to restrict greenhouse gas emissions.
• International Finance Corporation (IFC): in jurisdictions where appropriate standards do not exist
and potential client impacts are high, the IFC’s Performance Standards, and Environmental Health
and Safety Guidelines are used as a benchmark of internationally accepted standards. This is
especially important for social and safety risks, which can arise frequently in the sector and where
there are a limited number of internationally accepted standards.
• HSBC is keen to work with clients in the sector who meet these standards. As part of its
commitment to engage with clients and assist them towards higher standards of
sustainable development, it will also work with clients who may not currently meet these
standards due to legacy assets. These assets will typically be ones which pre- date this
policy and clients should have a credible, documented and time-bound plan to meet our
standards.
29. Crédit Agricole: Metals and Mining June 2015
• The Bank will not participate in financings or investments directly related to the development,
construction or expansion of any metals & mining installation if aware of the following
characteristics:
• - coal mining projects
• - asbestos mining projects
• - artisanal mining
• - critical impact on a protected area or on wetlands of international importance covered by the Ramsar
Convention
• - the project is located within a site listed on the UNESCO World Heritage list
• or when a risk of material non-compliance has been identified and has not received, in its
opinion, satisfactory answers with respect to:
• 6
• - the IFC Performance Standards (or equivalent standards when a export credit agency or a multilateral
institution is involved) or the Environment, Health and Safety Guidelines, in particular with respect to the
ESMS, protection of the fundamental rights of workers, displacement of population, management of tailings,
closure and rehabilitation plans as appropriate, biodiversity conservation, impact on critical natural habitats,
consent of indigenous people and protection of cultural heritage
• - the relevant industry initiatives listed in section 3 (International Cyanide Management Code for gold mining,
Kimberley Process for diamonds, ISTCI for tin minerals, WNA Sustaining Global Best Practices for uranium)
• - public consultation or, when necessary, consent from affected indigenous peoples
• - inter States consultation in the event of major cross-borders impacts
30. Summary
• The responsibilities of enterprises to respect human
rights and with respect to environmental and
sustainability principles have expanded to
institutions that finance enterprise activity
• The scope of a financial institution’s obligations are
evolving
• Serve as an instrument of privatized international norms
• Sources in international soft law frameworks and self-
governance structures
• Evolving structures of compliance
• OECD NAPs; arbitration, etc.
• Challenges;
• Policy Incoherence:
• Obligations for both financial institutions and their
borrowers are evolving might be subject to different
standards
• Private governance structures evolving as they
incorporate international standards
• Control of borrowers through loan pricing (based on
human rights risks) and covenants (compliance and
monitoring of standards developed and imposed by
lenders)
31. Conclusion
• The trend toward legalization of
the private sphere and for the
privatization of governance and
administration continues to grow
• In the context of the responsibility
of financial institution
• privatization is implemented through
the evolution of contract webs with
regulatory objectives;
• Legalization is implemented through
the transposition of internationalized
standards into the rule systems of
production chains.
• Autonomy is achieved by detaching
dispute resolution from national
courts.
• From Social License the Regulation of the
Societal Sphere
• “Social license ” generally refers to a local
community ’s acceptance or approval of a
company ’s project or ongoing presence in
an area. It is increasingly recognized by
various stakeholders and communities as a
prerequisite to development. The
development of social license occurs
outside of formal permitting or regulatory
processes, and requires sustained
investment by proponents to acquire and
maintain social capital within the context of
trust-based relationships.” (2013 Social
License to Operate: How to Get It, and How
to Keep It, Brian F. Yates and Celesa L.
Horvath)
32. Thank You!
For more information please
contact me at lcb11@psu.edu
or visit my website:
http:backerinlaw.com