Library | ESG issues
Governance
The governance pillar in ESG (environmental, social, and governance) refers to the systems, policies, and practices that ensure an organisation is managed responsibly and ethically. It includes issues such as board structure, reporting & disclosures, shareholders & voting, and risk management. Strong governance reduces risks, enhances trust, and supports long-term business sustainability.
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Arms availability and the situation of civilians in armed conflict: A study presented by the ICRC
The ICRC study finds that widespread availability of small arms intensifies civilian harm in armed conflict. Drawing on field data, case studies and staff surveys, it links unregulated arms flows to higher civilian casualties, humanitarian access constraints and weakened compliance with international humanitarian law.
Responsible business conduct in the arms sector: Ensuring business practice in line with the UN guiding principles on business and human rights
The UN Working Group reviews arms sector regulation, finding persistent exports linked to humanitarian and human rights law violations. It identifies weak political will, opaque oversight and limited human rights due diligence, and urges stronger application of the UN Guiding Principles by states and companies.
Report of the working group on the universal periodic review
The report presents Norway’s fourth Universal Periodic Review, outlining human rights commitments, recent legal reforms, and policy measures. It records peer State feedback and extensive recommendations covering equality, child welfare, Indigenous rights, migration, climate action, and business and human rights, for Norway’s consideration and follow-up.
Draft policy on cyber enabled crimes under the rome statute
The ICC Prosecutor’s draft policy explains how existing Rome Statute crimes may be committed or facilitated through cyber means, outlines jurisdictional and evidentiary approaches, and affirms commitment to prosecuting serious cyber-enabled international crimes while excluding ordinary domestic cybercrime.
Salient Issue Briefing: Artificial intelligence based technologies
This briefing examines human rights risks from AI-based technologies in the ICT sector, outlines business, legal, and financial implications, and provides investor-oriented guidance grounded in international standards to support rights-respecting AI development, deployment, and oversight.
Towards sustainability position on defence investments
The report sets a pragmatic policy on defence investments for Towards Sustainability-labelled funds, permitting defensive, non-lethal and dual-use activities with strict ESG due diligence, while excluding weapons producers. It affirms defence funding as primarily a government responsibility.
Commission unveils the white paper for european defence and the rearm europe plan readiness 2030
The report outlines the EU’s White Paper on European Defence and the ReArm Europe Plan, targeting defence readiness by 2030 through closing capability gaps, strengthening the defence industrial base, and mobilising over €800 billion via public, EU, and private funding mechanisms.
BPI France: European Defence Bond Framework
Bpifrance’s European Defence Bond Framework defines principles for issuing use-of-proceeds bonds financing eligible defence-sector projects, mainly SMEs, to support European sovereignty. It details eligibility criteria, exclusions, ESG safeguards, governance, reporting, and proceeds management, while stating the bonds are not ICMA-aligned sustainable instruments.
Mapping the international presence of the world's largest arms companies
SIPRI maps the global footprint of the 15 largest arms companies, identifying 400 majority-owned foreign entities. International presence aligns with geopolitical ties and major arms markets. US and European firms dominate; Chinese and Russian companies show limited overseas reach.
Guidelines for observation and exclusion of companies from the government pension fund global (GPFG)
The guidelines define ethical criteria for observing or excluding companies from Norway’s Government Pension Fund Global. They cover prohibited products, unacceptable conduct, coal thresholds, governance roles of the Council on Ethics and Norges Bank, and transparency requirements for decisions and reviews.
Agreement on international responsible investment in the insurance sector: ESG investment framework for the theme: Controversial weapons and the trade in weapons with high risk countries
The 2021 Agreement on International Humane Trapping Standards establishes technical requirements and testing procedures for restraining and killing traps used to capture specific wild mammal species. It aims to ensure humane trapping practices through standardised certification, testing methodologies, and threshold injury scores, whilst providing for periodic review and multilateral cooperation amongst signatory nations.
Council on ethics for the norwegian government pension fund global
The report outlines the Council on Ethics’ 2018 work advising Norges Bank on exclusions and observation under ethical guidelines. It covers assessments of human rights, environment, climate, corruption and weapons sales, resulting in multiple company exclusions, observations and revocations, alongside ongoing sectoral investigations.
Responsible investing in defence, security and resilience
The NATO Innovation Fund advocates removing financial exclusions on defence to bolster European security. The report recommends reforming procurement for rapid dual-use technology adoption and implementing a ‘Responsible Use Framework’ to ensure ethical development of emerging capabilities like AI and autonomous systems.
Finance for war: Finance for peace: How values based banks foster peace in a world of increasing conflict
The report analyses global financial links to arms production, showing significant funding for weapons despite rising conflict. It contrasts this with values-based banks, particularly GABV members, which largely exclude arms financing, arguing divestment supports peace, reduces risk, and aligns finance with social and environmental objectives.
Repurposing power markets: The path to sustainable and affordable energy for all
IFC’s report argues that repurposing power market designs is critical to achieving affordable, reliable and sustainable electricity. Drawing on global data, it finds competitive markets attract private capital, improve access and accelerate renewables, while recommending tailored reforms guided by innovation, integration and institutional strength.
Stakeholder engagement and science-based targets for nature
This report provides guidance for companies on integrating affected stakeholder perspectives into science-based targets for nature, emphasising Indigenous rights, equity, and due diligence. It outlines who to engage, how to engage, and how to evaluate engagement across the SBTN five-step process.