Financial stability concerns include potentially higher sensitivity to global financial conditions. Most of the activity in the rapidly growing world of sustainable finance has been previously concentrated in advanced economies, but emerging markets, while still a small share of the total, saw a surge last year. As a result, their market share has increased for the first time since 2016, underscoring the growing investor appetite for environmental, social, and governance (ESG) products, but this growing opportunity also poses new...

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In view of Russian Federation’s unprovoked and unjustified military aggression against Ukraine and the escalating situation, the Council today agreed on a new set of measures that will impose severe consequences on Russia for its actions. Such decisions was agreed in close coordination with EU's partners and allies. Firstly the Council adopted two assistances measures under the European Peace Facility (EPF) that will contribute to strengthening the capabilities and resilience of the Ukrainian Armed Forces to defend the territorial integrity...

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The Federal Reserve Board in March will begin a statistical study of household finances, the Survey of Consumer Finances, that will provide policymakers with important insight into the economic condition of a broad cross section of American families. "This survey is one of the nation's primary sources of information on the financial condition of different types of families," Federal Reserve Board Chair Jerome Powell said in a letter to prospective survey participants. "Our most recent survey has been instrumental in...

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Enterprise Florida, Florida’s economic development agency, published its latest report on foreign-direct investment in Florida in January 2022. It states that “according to the Bureau of Economic Analysis, Florida ranked fifth (5th) in the nation in 2019 in terms of foreign direct investment employment, and 1st in the Southeastern U.S. with a total of 366,100 jobs supported by majority foreign-owned companies.” Most notably, majority foreign-owned companies from Europe account for the largest share BY FAR at 62 percent of...

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As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS to implement the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy, the OECD is seeking public comments on the Draft Rules for Tax Base Determinations under Amount A of Pillar One. The purpose of the tax base determinations rules is to establish the profit (or loss) of an in-scope MNE that will be used for the Amount A calculations to reallocate...

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Today, the Commission presents its Communication on Decent Work Worldwide that reaffirms the EU's commitment to champion decent work both at home and around the world. The elimination of child labour and forced labour is at the heart of this endeavour. The latest figures show that decent work is still not a reality for many people around the world and more remains to be done: 160 million children – one in ten worldwide – are in child labour, and 25...

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On 23 February 2022, the Commission proposes new rules on who can use and access data generated in the EU across all economic sectors. The Data Act will ensure fairness in the digital environment, stimulate a competitive data market, open opportunities for data-driven innovation and make data more accessible for all. It will lead to new, innovative services and more competitive prices for aftermarket services and repairs of connected objects. This last horizontal building block of the Commission's data...

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Why is the Commission presenting this initiative? The transformation to a sustainable economy is a key political priority of the EU. It is essential for the wellbeing of our society and our planet. Companies play a key role in creating a sustainable and fair economy and society but they need support in the form of a clear framework. EU-level legislation on corporate sustainability due diligence will advance the green transition, and protect human rights in Europe and beyond. In addition to...

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Today, the European Commission has adopted a proposal for a Directive on corporate sustainability due diligence. The proposal aims to foster sustainable and responsible corporate behaviour throughout global value chains. Companies play a key role in building a sustainable economy and society. They will be required to identify and, where necessary, prevent, end or mitigate adverse impacts of their activities on human rights, such as child labour and exploitation of workers, and on the environment, for example pollution and...

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