ShareAction response to European Parliament’s Economic and Monetary Affairs Committee decision to enhance the financial sector’s due diligence obligations

The European Parliament’s Economic and Monetary Affairs Committee (ECON) have committed to enhance the obligation on the financial sector to undertake due diligence on human rights and environmental impact.

Commenting on the decision, Isabella Ritter, EU Policy Officer at ShareAction, said:

“Today, the ECON Committee of the European Parliament has sent the strong signal that financial institutions need to care about their impacts on planet and people. Today’s adopted report sets a crucial step in the right direction for harnessing the power and potential of the financial sector. Carrying out human rights and environmental due diligence will allow financial actors to better manage their financial risks and harmful impacts on the planet and people.”