By Brian Huerbsch
Illegal logging poses real and significant regulatory risk for international financial institutions and corporations, especially those connected, either directly or indirectly, with the global timber industry, or that operate in areas where the industry is prevalent and important to the local economy. Considering the notable increase in regulatory activity over the past decade, the amount of enforcement actions given, and the ballooning size of fines over the past several years, it is clear that illegal logging is a crime that cannot be ignored anymore. Fortunately, this risk can be mitigated properly if strong third-party risk and know your customer (KYC) processes are in place, including enhanced due diligence (EDD) and anti-money laundering (AML) protocols.
On October 28th, 2019, the OECD launched new guidance on Due Diligence for Responsible Corporate Lending and Securities Underwriting (hereinafter “the guidance”). The guidance is based and elaborates on the OECD Guidelines for Multinational Ente...Read More
Using a unique data set based on factory audits of working conditions in over 800 of Nike's suppliers in 51 countries, this paper seeks to explore whether or not monitoring for compliance with corporate codes of conduct -- currently the principal wa...Read More
As indicated by revised figures providing additional details on the scope of countries’ workplace closure policies, 94 per cent of the world’s workers are living in countries with some sort of workplace closure measures in place. Although more a...Read More
The ILO commissioned this report from Ms. Hayat Osseiran, an independent researcher on child labour issues. The report should not be construed as representing the views of the ILO. The views expressed are those of the author and do not necessarily ...Read More
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