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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'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 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...
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...
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...
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 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....
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....
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...
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...