News Update
Month: Oct
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What is the purpose of the corporation?
Read moreAfter the global financial crisis, there has been considerable debate about the role of corporations in society. It has become broadly accepted that corporations — particularly the world’s largest publicly traded corporations — should be governed with respect for the society and the environment. This is because corporations are dependent on the broader institutional and systemic framework within which they operate for their long-term survival. In addition, the most pressing of society’s problems cannot be solved by regulation alone without contributions from corporations, such as the attainment of the UN Sustainable Development Goals.
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Institutional investors not necessarily ‘walking the talk’
Read moreHermes Investment Management’s paper Many rivers to cross – Slow progress towards responsible capitalism has queried whether institutional investors are practising responsible investment or just talking about it. More investors than a year ago believe that companies should focus on environmental, social and governance (ESG) issues as this produces better long-term results, yet almost two-thirds (60 per cent) hold the view that significant ESG risks do not justify rejecting an otherwise attractive investment.
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Political donations on the radar
Read moreThe Australian Centre for Corporate Responsibility (ACCR) has withdrawn its plan to lodge a resolution on political donations at the AGM of National Australia Bank, following public clarification by the company that it ceased making political donations from May 2016. The proposed resolution sought to have the board either adopt a policy of no donations or disclose the use of funds for political purposes.
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UK inquiry into corporate governance closely watched
Read moreGiven the increasing convergence of governance frameworks globally, the UK inquiry into corporate governance currently underway is being closely watched by market participants and regulators around the world.
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We're fixing NFP fundraising laws
Read moreWe know fundraising laws are inconsistent, frustrating and not-for-profits waste time on compliance. A coalition of peak bodies has called for a nationally consistent NFP fundraising regime. Our joint Statement on NFP fundraising reform shows that currently NFPs are forced to waste significant amounts of time and money to meet outdated and fragmented fundraising laws that differ considerably across Australia. And there is a simple solution that will deliver more than $15 million in savings every year for charities alone.
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