On April 21, 2020, a group of 101 international investors representing US$5 trillion in assets under management have, in a common statement, called on “all governments to develop, implement, and enforce mandatory human rights due diligence requirements for companies headquartered or operating within their own jurisdictions”.
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Landmark settlement: ANZ bank compensating displaced Cambodian farmers by a client’s project it financed
The settlement reached in February 2020 by Equitable Cambodia and Inclusive Development International on behalf of Cambodian victims and ANZ bank, under the auspices of the Australian National Contact Point (AusNCP) is the first of its kind for the global banking industry.
In a joint statement published on 27 February 2020, “ANZ recognises the continuing hardships faced by the affected communities, and has agreed to pay the profit it earned from the loan, to the affected communities”.
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