Issue 56: October 2, 2024

Legislation

Two US senators have introduced the No Funds for Forced Labor Act, a bill that if passed would require the Secretary of the Treasury to instruct executive directors of international financial institutions to oppose projects that pose a significant risk of using forced labor, or that are carried out by state-owned or heavily state-influenced entities. The bill also would require these institutions to explain how they due diligence projects for forced labor risks and the steps they take to mitigate, monitor, and reduce those risks.

Standards

The European Commission has launched a consultation on a proposed EU flight emissions label to provide passengers with information about the carbon footprint of their flights as part of regulations designed to decarbonize aviation. The initiative would provide for a single standard and regulated methodology for estimating flight emissions, allowing passengers to see standardized information on the carbon footprint