Calls to amend UK Financial Services Bill to ensure human rights standardsLast updated: May 23, 2012 • 6:07 pm No Comments
Lisa Nandy MP and John McDonnell MP called yesterday for the British Government’s Financial Services Bill to be amended so that companies wishing to list on UK Stock Exchanges would need to report on their human rights record.
Repeated reference was made to London Mining Network’s report, published in March 2012, on UK listed mining companies and the need for stricter regulation (see http://londonminingnetwork.org/docs/lmn-the-case-for-stricter-oversight.pdf) and in particular to mining companies Vedanta and Monterrico Metals.
Financial Secretary to the Treasury Mark Hoban MP did not accept the suggested amendment but suggested that John McDonnell MP and London Mining Network seek a meeting with the Minister responsible for corporate governance and the Financial Reporting Council.
The text of the debate can be found at http://www.publications.parliament.uk/pa/cm201213/cmhansrd/cm120522/debtext/120522-0002.htm#12052240000080 or viewed at: http://www.parliamentlive.tv/Main/Player.aspx?meetingId=10771&st=17%3a03%3a20&player=silverlight (starting at 17.40).