Post by Djordje Bjelica

𝗪𝗵𝗮𝘁 𝗱𝗼 𝗻𝗲𝘄 𝗢𝗘𝗖𝗗 𝗰𝗼𝗺𝗽𝗹𝗮𝗶𝗻𝘁𝘀 𝗳𝗶𝗹𝗲𝗱 𝗶𝗻 𝟮𝟬𝟮𝟲 𝗮𝗴𝗮𝗶𝗻𝘀𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗶𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝘀 𝘁𝗲𝗮𝗰𝗵 𝘂𝘀? Since early 2026, only two OECD complaints have been filed against financial institutions, and both indicate an emerging accountability pattern: 𝗳𝗼𝘀𝘀𝗶𝗹 𝗳𝘂𝗲𝗹 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴 𝗶𝘀 𝗯𝗲𝗶𝗻𝗴 𝗮𝘀𝘀𝗲𝘀𝘀𝗲𝗱 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗵𝘂𝗺𝗮𝗻 𝗿𝗶𝗴𝗵𝘁𝘀 𝗱𝘂𝗲 𝗱𝗶𝗹𝗶𝗴𝗲𝗻𝗰𝗲 𝗼𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻𝘀 1️⃣ 𝗛𝗦𝗕𝗖 – 𝗖𝗲𝗿𝗿𝗲𝗷𝗼́𝗻 𝗰𝗼𝗮𝗹 𝗺𝗶𝗻𝗲 (𝗖𝗼𝗹𝗼𝗺𝗯𝗶𝗮) Filed on 5 June 2026 by faith-based organizations from Colombia, the UK, and Ireland. The complaint argues that HSBC’s financing relationship with Glencore (operator of the Cerrejón coal mine) is inconsistent with the OECD Guidelines on Responsible Business Conduct. Main concerns: -long-standing environmental degradation in La Guajira -impacts on water access and public health -displacement of Indigenous and local communities -alleged misalignment between financing practices and climate commitments 💡In essence, this case questions whether a bank’s financing relationship can create due diligence responsibilities for ongoing human rights and environmental impacts linked to financed activities. 2️⃣ 𝗝𝗮𝗽𝗮𝗻𝗲𝘀𝗲 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗶𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝘀 – 𝗠𝗼𝘇𝗮𝗺𝗯𝗶𝗾𝘂𝗲 𝗟𝗡𝗚 𝗽𝗿𝗼𝗷𝗲𝗰𝘁 Filed on 15 June 2026 by Solutions for Our Climate. The complaint targets five institutions (SMBC, MUFG, Mizuho, JBIC, and NEXI), linked to financing and insurance of the Mozambique LNG project. Main allegations: -failure to conduct adequate human rights due diligence -links to violence, displacement, and harm in Cabo Delgado -lack of meaningful mitigation despite escalating risks -additional concerns over large-scale fossil fuel expansion and emissions 💡Here, the question is whether continued financial support remains compatible with OECD due diligence expectations once severe human rights risks become known and persistent. 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗰𝗼𝗺𝗺𝗼𝗻 𝘁𝗼 𝗯𝗼𝘁𝗵 𝗰𝗮𝘀𝗲𝘀? ❗fossil fuel-linked projects❗ ❗allegations of insufficient human rights due diligence in finance❗ ❗reliance on OECD Guidelines as the accountability framework❗ ❗financial institutions are being framed as active duty-holders❗ The main lessons: ➡️ OECD complaints against banks are increasingly concentrated on fossil fuel financing + human rights risk exposure ➡️ The core legal question is “Whether financial institutions exercised adequate human rights due diligence in relation to risks they enabled or contributed to through financing” This reflects a shift from isolated corporate conduct to structured accountability between financiers and high-risk projects. ---- Follow me → Djordje Bjelica for weekly insights on ESG & human rights and responsible business conduct. #HumanRights #HumanRightsDueDiligence #ResponsibleBusinessConduct