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Banco Santander will deny loans to coal-related companies from 2030
Entrepreneur Asia, 23 February 2021Spanish banking giant, Santander, announced that as of 2030, it will deny loans and other services to companies linked to the coal industry. In a pledge to ‘decarbonise the economy’, the bank released a statement promising to eliminate its “exposure to thermal coal mining worldwide” and “support the objectives of the Paris Agreement on climate...
corporate responsibility
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Rio Tinto vows to act on emissions after doling out record dividend
Nick Toscano, The Sydney Morning Herald, 17 February 2021Rio Tinto's new chief executive has laid out plans for a shake-up of the mining giant's climate change agenda, pledging to expand its emissions-reduction goals to tackle the company's enormous carbon footprint. However, the goals disappointed climate-focused shareholder activist Market Forces. The organisation's director, Julien Vincent, said...
corporate responsibility
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Ecocide: making environmental damage an international crime
Future Tense Podcast, ABC, 07 February 2021In this podcast, co-founder of the Stop Ecocide campaign, Jojo Mehta, Senior Lecturer from the Queens University Belfast School of Law, Dr. Rachel Killean, and Professor of Design at Charles Sturt University, Dr. Craig Bremner, discuss the creation of a new crime called “ecocide” (i.e. the deliberate, large-scale destruction of the...
corporate responsibility
Stakeholder capitalism gains traction as companies commit to new ESG metrics
Esther Whieldon, S&P Global, 27 January 2021Dozens of the world's largest companies have committed to use a uniform set of "Stakeholder Capitalism Metrics" in their mainstream disclosures amid broader global efforts to standardise environmental, social and governance reporting. The 21 core stakeholder capitalism metrics are based on existing measuers and offer "universal, comparable...
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Business Council of Australia backs Zali Steggall’s climate change bill for 2050 net zero target
Adam Morton, The Guardian, 26 January 2021A business group of mining, retail, manufacturing, banking and energy bosses have pledged their support towards independent MP Zali Steggall's climate change legislation. The Business Council of Australia used a parliamentary submission to say the proposed plan is ...
public policy
corporate responsibility
‘Unjustly enriched’: Mounting calls for corporate Australia to repay JobKeeper as profits recover
Dominic Powel, The Sydney Morning Herald, 26 January 2021Corporate Australia is being urged by governance experts to repay funds received through the JobKeeper wage subsidy scheme, warning the $90 billion cost for taxpayers will be felt for decades. Some major Australian companies that have posted strong profits have said they will repay millions in wage subsidies but according to Dean Paatsch from...
corporate responsibility
Larry Fink to CEOs: Climate risk is investment risk
Felix Salmon, Axios, 26 January 2021Larry Fink, the biggest financial investor in the world told CEOs of the companies he invests in: climate risk is investment risk. Larry Fink, CEO of BlackRock, which controls USD$9 trillion will encourage companies to report on what their emissions are today, and what mitigation strategies they are implementing to achieve ...
corporate responsibility
Apple invests millions to back entrepreneurs of colour, part of racial justice effort
Stephen Nellis, Reuters, 13 January 2021Apple Inc will be putting (US) $60 million into projects aimed at challenging systemic racism, along with venture capital funding for entrepreneurs of colour. Apple said it would invest (US) $10 million in a fund with Harlem Capital, and another fund that provides financing to minority-owned firms. The efforts are part of Apple's $100 million...
corporate community investment
corporate responsibility
Oil giant Exxon Mobil pushes new climate change plan as activist investors circle
Eric Rosenbaum, CNBC, 14 December 2020Exxon Mobil has announced a new five-year plan to reduce greenhouse gas emissions. The new targets were in response to multiple activist investor groups targeting Exxon Mobil's slipping financial performance as well as a failure to address long-term energy transition needs. The oil giant pledged that its 2025 plan would also meet the Paris...
corporate responsibility
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Rio Tinto’s decision to blow up Indigenous rock shelters ‘inexcusable’
Calla Wahlquist & Lorena Allam, The Guardian, 09 December 2020Rio Tinto should pay compensation for Juukan Gorge caves blast, a parliamentary inquiry has recommended. The Western Australian government has also been called on to put a stop to the destruction of heritage sites until new laws are passed, in a scathing report criticising the actions of Rio Tinto. The bipartisan report said Rio Tinto’s...
corporate reputation
corporate responsibility