Banks and food speculation: a lesson from the NGO campaigns
The fourteenth issue of our Sustainability Focus
On January 14, 2014 the EU Parliament and the Council announced the adoption, as part of the larger financial market reform Markets in Financial Instruments Directive (MiFID II), of specific measures to curb speculation on commodities, also related to agricultural products, by large financial institutions. The new rules have been warmly received by the many NGOs and civil society groups which in recent years worked to increase the awareness of the public opinion and regulators on the societal cost of speculation and passive investments in food commodities. This Vigeo Sustainability Focus provides an overview on the different reactions of EU large banks to the challenges raised by stakeholders on this issue, drawing some lessons for the future.
Business Behavior, World