Five On Friday – Five Recent Developments That We've Been Watching Closely

It's Friday and time for another overview of developments in the field of business and human rights that we've been monitoring.

This week's post includes: the formal withdrawal of the United States from the EITI; the passage of the Canadian Magnitsky Act; and the launch of the Investor Alliance for Human Rights.

• On November 2, the Government of the United States formally withdrew from the Extractive Industries Transparency Initiative ("EITI"). The Director of the U.S. Office for Natural Resource Revenue sent a letter to the EITI Board of Directors which stated that the withdrawal was effective immediately. The EITI Chair issued a statement shortly afterwards, stating that "[t]his is a disappointing, backwards step. The EITI is making important gains in global efforts to address corruption and illicit financial flows. Our work supports efforts to combat transnational crime and terrorist financing. It's important that resource-rich countries like the United States