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- Elliott, Jasmine, 1989, et al.
(författare)
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If money talks, what is the banking industry saying about climate change?
- 2022
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Ingår i: Climate Policy. - : Informa UK Limited. - 1469-3062 .- 1752-7457. ; 22:6, s. 743-753
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Tidskriftsartikel (refereegranskat)abstract
- Major banks are facing increased public pressure to reduce financing for fossil fuel projects. In this decade of action for the UN Sustainable Development Goals (with a focus on SDG 13 - climate action), all sectors, including the financial sector, are urged to recognize the ways in which they impact these goals and how they can best contribute to their realization. But how are the top 10 most active banks in financing the fossil fuel industry responding to this pressure? Using qualitative textual analysis of these banks' annual reports and a proposed categorization of how banks are talking about climate change, we highlight how these banks see their role in reducing climate impacts through their financing and whether their response has evolved since the Paris Agreement. We find that while these banks are stating an increasing number of climate change actions since the introduction of the Paris Agreement, there are few clear commitments in relation to their financing of fossil fuels. This absence of commitments in the annual reports may reflect an absence of critical reflection on their responsibility for financing climate change. Key policy insights Climate-related financial disclosures should target banks' climate impact regarding their client financing; most importantly this should be done in a clear, contextualized way so that regulators and the public can hold the banks accountable based on their disclosures. Effective policies need to explicitly consider how banks should measure and reduce climate impacts in a way that is comparable, aligned with the Paris Agreement, and in relation to banks' credit financing operations to clients (not only from the direct operations of a bank, as has been the focus of banks' commitments against climate change to date). Legislation mandating human rights and environmental due diligence with explicit considerations in relation to climate change is an example of a policy that would require banks to consider a broader scope of their impact assessment and disclosure reporting which could potentially establish clearer claims for remedies by impacted communities.
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- Elliott, Jasmine, 1989
(författare)
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The corporate legal profession's role in global corruption: obligations and opportunities for contributing to collective action
- 2024
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Ingår i: Crime Law and Social Change. - 0925-4994. ; 81:2, s. 185-201
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Tidskriftsartikel (refereegranskat)abstract
- Key corruption issues, like lack of transparency in beneficial ownership and money laundering, are inherently transnational. They are facilitated by professional services, like corporate lawyers, who work with various standards, regulations, and global financial flows that can move the proceeds of crime across the world. This paper uses reflective equilibrium to analyze the tensions between the philosophical principles of complicity and collective responsibility and the principles found in the professional role of lawyers in society to reflect on the corporate legal profession's role in enabling corruption. Furthermore, this paper explores how these tensions can be addressed and how lawyers can be situated in anti-corruption collective action theory and practical collective action initiatives. For example, the legal profession has a collective obligation to maintain and self-patrol the profession's ethics, primarily through their regulating authorities, and it should be considered to what extent these authorities are promoting anti-corruption standards or reprimanding lawyers who are complicit in corrupt acts. There is also an opportunity for corporate lawyers to use their role in society to develop more collective action initiatives to address issues of transnational corruption, which may include enforcing a higher collective standard in providing advice or advocating for legislators to fix regulations and promote legislation that addresses corrupt practices.
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- Yu, Yinan, 1985, et al.
(författare)
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climateBUG: A data-driven framework for analyzing bank reporting through a climate lens
- 2024
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Ingår i: Expert Systems with Applications. - 0957-4174 .- 1873-6793. ; 239
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Tidskriftsartikel (refereegranskat)abstract
- This paper applies computational linguistics learning methods to the banking industry and climate change fields. We introduce our data-driven framework, climateBUG, with the aim of detecting latent information about how banks discuss their activities related to climate change using natural language processing (NLP). This framework consists of an ingestion pipeline, a configurable database, and a set of API’s. In addition, climateBUG offers two standalone components, namely a unique annotated corpus of approximately 1.1M statements from EU banks’ annual and sustainability reporting and a deep learning model adapted to the semantics of the corpus. When benchmarking on classification performance, our model outperforms other models with similar scopes due to its stronger domain relevance. We also provide examples of how the framework can be applied from a user perspective.
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