How human rights standards and environmental regulations in the footwear industry are being quietly ignored by banks.
The aim of this investigation is to uncover and analyse financial relationships between European financial service providers and the European shoe industry and, in the process, address the following questions: Which loans and investments are being issued by which financial institutions, under what conditions, to which companies
in the footwear sector? Do the financial service providers specify mandatory ecological and social guidelines or criteria for their business clients? Do financial service providers require responsible business management from their business clients, in particular with regard
to the handling of social and ecological problems in supply chains?
The findings of this investigation trace back to research and analysis carried out by the German NGO Facing Finance on behalf of the Change Your Shoes campaign.
A total of 23 European footwear companies and their financial relationships with 23 different financial service providers were analysed over the period from June 2012 to June 2016. The financial service providers were also invited to complete a survey explaining whether and how social and ecological norms and standards played a role in their loan and equity decisions.
Download the report: Something is a Foot
Published in 2017