Disaster-prone developing nations, including Bangladesh and Indonesia, are exposed to crippling losses when storms, floods or earthquakes strike because they suffer from a dangerous lack of insurance, industry experts said 22nd October. Globally, assets worth about $163 billion are not insured against catastrophes, posing a “significant threat” to livelihoods and prosperity, London-based insurance market Lloyd’s said in a report. Many countries with the lowest levels of insurance are also among those most exposed to risks, including from climate change impacts, and are least able to fund disaster recovery efforts, it noted. After a disaster, uninsured losses usually have to be paid from government funds – a problem for poorer countries that cannot afford to rebuild. Last year was one of the costliest for natural catastrophes in the past decade – and expected economic losses from such disasters now total $165 billion annually, Lloyd’s said. (Thomson Reuters Foundation)
US-China trade war spills into Green Climate Fund
The first Chinese bid for finance from the Green Climate Fund (GCF) was deferred after the US board member blocked it. In a sign of US-China tensions spilling into the climate finance arena, Mathew Haarsager, a special assistant to the US president, vetoed a $100 million loan for green development in Shandong province. Haarsager raised concerns about the accountability of sub-projects and potential use of funds for research and development of commercial products. Its defenders said it was exactly the kind of “transformational” initiative the GCF should support. By mobilising investments in clean energy, urban transport and other climate projects, the programme is predicted to save 50-75 million tonnes of carbon dioxide compared to business-as-usual. Tosi Mpanu Mpanu, a Congolese board member representing African countries, said US opposition was motivated by trade tensions between the superpowers. (Climate Home News)
Employees
Miscarrying at work: the physical toll of pregnancy discrimination
Women in strenuous jobs lost their pregnancies after employers denied their requests for light duty, even ignoring doctors’ notes, an investigation by The New York Times has found. The New York Times reviewed thousands of pages of court and other public records involving workers who said they had suffered miscarriages, gone into premature labour or, in one case, had a stillborn baby after their employers rejected their pleas for assistance. These are women working in warehouses, at a hospital, a post office, an airport, a grocery store, a prison, a restaurant, and several hotels. Under federal law, companies don’t necessarily have to adjust pregnant women’s jobs, even when lighter work is available and their doctors send letters urging a reprieve. A spokesman for Verizon, where such instances allegedly occurred, said, “we are deeply troubled by these allegations. We have no tolerance — zero tolerance — for this sort of alleged behaviour.” (New York Times)*
Human Rights
Home Office tells business: open up on modern slavery or face further action
The UK government department responsible for immigration, security, law and order, is writing directly to chief executives of 17,000 businesses telling them to open up about modern slavery in their supply chains, or risk being named as in breach of the law. Businesses with a turnover of more than £36 million must publish annual transparency statements, known as a Modern Slavery Statement, setting out what they are doing to stop modern slavery and forced labour practices occurring in their business and supply chains. Currently, it is estimated that 60 percent of companies in scope have published a statement. Some of these statements are poor in quality or fail to even meet the basic legal requirements. “The Home Office is sending letters to businesses today with a clear message that continued non-compliance will not be tolerated,” Minister for Crime, Safeguarding and Vulnerability Victoria Atkins said. (GOVUK)
ACCA urges governments and businesses tosupport communities in enforcing judicial decisions
The African Coalition for Corporate Accountability (ACCA) has issued a statement calling on governments and businesses operating in Africa to respect and implement the rulings of the courts in favour of communities’ rights. The ACCA, the largest coalition of civil society organisations (CSOs) working on issues related to business and human rights and corporate accountability across the African continent, issued the statement following its 4th General Assembly (GA) under the theme Free, Prior and Informed Consent (FPIC) in Nairobi, Kenya. “The ACCA views the advancement of FPIC across the African continent as a vital element in strengthening community rights and community participation in development projects, which directly impact communities’ daily lives and livelihoods,” and “calls on CSOs and other relevant actors to support communities in enforcing judicial decisions,” it said. (Business & Human Rights)
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