Acting for You, September 2024
by CATHERINE MAXWELL FGIA FCG General Manager, Policy & Advocacy, Governance Institute of Australia
Submission to the ACCC – Sustainability collaborations and Australian Competition Law Draft Guide
In response to the ACCC’s consultation on their Sustainability collaborations and Australian competition law Draft Guide, we considered whether the Guide:
- Is likely to improve understanding of what to do when considering collaboration for sustainability purposes
- If there were areas requiring greater guidance and information including specific examples or situations to consider further
- Adequately included comparisons with international competition commission enforcement approaches and activities
Our recommendations were that ACCC:
- Reconsider and/or clarify the use of the term ‘sustainability collaborations’ to provide business’ with certainty about the scope of discussions, agreements or other practices that may be subject to an authorisation for an exemption.
- Provide further information on real or perceived risks associated with incoming climate-related financial disclosure and reporting obligations particularly in relation to mandatory materiality assessments and pooling of information about suppliers and the potential risks associated with concerted practices and exclusive dealings.
- Consider a safe harbour for startup collaborations to encourage new and innovative sustainability initiatives.
- Consider ‘soft safe harbour’ provisions to sustainability standardisation agreements to allow producers, processors, distributors and retailers to achieve sustainability metrics throughout their supply chain.
- Consider further guidance on price agreements, particularly where a higher price outcome for a more sustainable industry practice is justifiable.
- Consider a fast-tracked, flexible and more lenient exemptions processes related to climate change agreements.
Find our full submission here.
Thought Leadership Issues Paper – Artificial Intelligence (AI) and Board Minutes
In July, Governance Institute published an Issues Paper about the application and challenges of using AI in board meetings.
The paper considers some of the risks associated with the use of AI, including data privacy concerns, cybersecurity risks, intellectual property issues, accuracy of output, the potential for bias and discrimination and regulatory compliance issues. It also stresses the importance of managing these risks as part of good governance in action.
Download and read the full issues paper for a more detailed understanding of the potential applications and challenges of using AI in board meetings and in company secretarial practice here.
Thought Leadership Guide – Effective Cyber Risk Management: A best practice governance guide
In August, Governance Institute published a best practice governance guide for digitally secure and resilient organisations.
The guide is a comprehensive publication designed to improve your organisation’s digital defences and guide you through the complexities of cyber security.
As an important piece of thought leadership, the guide empowers directors and executives in all sectors with the tools and knowledge to safeguard your organisation’s most valuable assets.
It details a framework for operational excellence by aligning your cyber risk appetite with actionable strategies and underscores the criticality of:
- Identifying and protecting key assets
- Implementing robust data governance
- Ensuring accountability at all organisational levels
It also addresses how to navigate crisis situations with confidence by exploring:
- The dynamics of crisis management teams
- Decision-making frameworks for ransomware demands
- Legal and notification requirements for cyber incidents
Download and read the full guide here.
Sustainability collaborations and Australian competition law Draft Guide – 29 July 2024