The European Commission must double efforts to create the more resilient and sustainable financial system that Europe needs, according to a coalition of environmental and development organisations.
Florent Compain, President of Les Amis de la Terre / Friends of the Earth France was fined a symbolic €500 today, a decision that the group condemns, for his role in the peaceful 'Faucheur de chaises' protest – a grassroots initiative to highlight the tax evasion of large financial institutions and banks like BNP Paribas.
The European Parliament voted today on rules that would make companies more accountable to their shareholders, making a step towards a more accountable and sustainable financial system, according to Friends of the Earth Europe, ShareAction and WWF Europe.
The Shareholder Rights Directive is intended to tackle the lack of transparency between companies and shareholders – a significant barrier to challenging unsustainable business and investment practices.
European Commission President Jean-Claude Juncker today reaffirmed his commitment to CETA – the EU-Canada trade deal – calling it as "the best and most progressive agreement that we have ever entered into."
Reacting to European Commission Vice-President Valdis Dombrovskis' hearing this morning in the European Parliament regarding his assuming the portfolio for Financial Stability, Financial Services and the Capital Markets Union, Friends of the Earth Europe accountable finance campaigner Anne van Schaik said:
Europe needs to toughen-up its regulations for how investors deal with environmental and social risks, according to Friends of the Earth Europe and Global Witness.
The European's Commission's proposal to increase the use of non-traditional banking systems across Europe - known as the Capital Market Union (CMU) initiative – poses major risks to people and the environment, a coalition of European civil society groups has stated today.
Food speculation by banks and financial institutions has contributed to rapid and unpredictable swings in food prices over recent years, with devastating impacts on poor people in developing countries. The European Union will introduce new regulations which take small steps towards curbing the financial speculation on food crops, according to Friends of the Earth Europe, after a deal was struck last night between the European Parliament and Greek EU Presidency.
Food speculation by banks and financial institutions continues to contribute to rapid and unpredictable swings in food prices. Yet, corporate lobbying on the Markets in Financial Instruments Directive (MiFID) – which sets new regulations for financial markets – has undermined attempts to curb this destructive practice, according to Friends of the Earth Europe. This will allow speculators to continue profiteering at the expense of the world's most vulnerable.