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Driving social impact by putting the ‘S’ in ESG

Thomas Bognanno, Forbes, 09 August 2021

Corporate citizenship has continued its evolution from corporate social responsibility (CSR) through philanthropy and cheque writing to creating shared value and win-win models. Today, CSR efforts have a more holistic focus on environmental, social and governance (ESG) practices, engaging all stakeholders and embedding these areas into all...

France fines Google 500 million Euros over copyright row

Reuters, 13 July 2021

France's antitrust watchdog has handed down a 500 million Euro fine to Google for failing to comply with the regulator's orders on how to conduct talks with the country's news publishers in a row over copyright. The fine comes amid increasing international pressure on online platforms such as Google and Facebook to share more revenue with news...

Target unveils sustainability goals, pledging to keep its products out of landfills and to create net-zero emissions by 2040

Nadine El-Bawab, CNBC, 22 June 2021

Target plans to make 100 per cent of its private label products environmentally sustainable by designing items that are more durable, and eliminate waste and encourage reuse by 2040. The retailer also plans to have 100% of the plastic packaging for its brands recyclable, compostable or reusable by 2025. Target also says it is responding to...

What’s next for ESG and how to prepare

Alexandra Wrage, Forbes, 14 June 2021

There has been a flurry of activity on the environmental, social, and corporate governance (ESG) front. These ESG developments across public and private sectors have put corporate compliance teams in a difficult position, especially as companies are still reeling from the pandemic. However, according to Alexandra Wrage, companies can prepare...

Google, Facebook, Amazon, and more urge SEC to mandate regular climate reports

Lauren Feiner, CNBC, 14 June 2021

In a letter to the Securities and Exchange Commission (SEC), seven US big tech companies have urged it to regularly disclose climate change-related matters to their shareholders. The group, including Alphabet, Amazon, Autodesk, eBay, Facebook, Intel, and Salesforce, also said that collectively 21 gigawatts of clean energy was purchased with the...

US companies push employees to prove they are vaccinated for COVID-19

Chip Cutter & Orla McCaffrey, The Wall Street Journal, 14 June 2021

Companies are stepping up the pressure on workers to get vaccinated for COVID-19. For months, employers have attempted to coax workers into receiving a COVID-19 vaccine, dangling cash, time off and other prizes. Now, employers are taking a more assertive tone, asking workers to report their vaccination status or implementing policies that...

Telstra says it’s too big to go ‘off grid’ to reach 100 per cent renewable energy target

Josh Taylor, The Guardian, 12 June 2021

Telstra CEO, Andy Penn, says the company is too big to go “off-grid” in its pursuit of using 100 per cent renewable energy, meaning it must invest in returning renewable energy to the grid to achieve its goal. The company has been carbon neutral since last year but is aiming to get to 100 per cent renewable energy generation equivalent in 2025....

UK banks tested on climate crisis risks

BBC, 08 June 2021

The Bank of England has announced it will examine the risks rising temperatures and sea levels could pose for the UK's big banks and insurers. It will put 19 firms through stress tests involving three climate scenarios projected over the next 30 years. The scenarios will be based on average temperature increases and changes in weather patterns....

Rio Tinto hires Indigenous director after Juukan Gorge disaster

Nick Toscano, The Sydney Morning Herald, 04 June 2021

Mining giant Rio Tinto has hired former Western Australian Treasurer Ben Wyatt as the first Indigenous member of its board of directors, seeking to rebuild broken relationships after last year’s destruction of ancient Aboriginal rock shelters. Mr Wyatt, who is of Yamatji heritage, said he was “deeply saddened and disappointed by the events at...

It’s time for investors to lead on climate policy

Ben Ratner & Erin Blanton, World Economic Forum, 02 June 2021

The recent election of two activist directors to the ExxonMobil board is a watershed moment for climate action. However, Wall Street’s leaders have provided little support for public policies to accelerate market shifts and make net zero a reality. As public and corporate concern about the climate grows and expectations for financial players...