This issue contains coverage of the government’s first consultations on the design and implementation of a new, internationally coordinated, mandatory climate disclosure regime. It also covers a variety of his other ESG, financial services, regulatory and risk-related developments…
- A ‘wake-up call’ for employers: WGEA’s latest employee census highlights slowing progress in closing the persistent gender pay gap in Australia
- Activist Bluebell Capital Partners has called on BlackRock’s board to replace CEO Larry Fink over ESG controversies.
- ISS highlights that while a record number of human rights shareholder proposals were put to the ballot in US companies this year, there has been no notable increase in support levels.
- Microsoft to publish sexual harassment report and implementation plan following 2021 majority vote
- Six Shareholder ESG Proposals to Be Voted on at Microsoft Corporation Annual Meeting
- Campbells Soup Co shareholders voted against shareholders’ climate change and animal welfare proposals
- Brief | ACCR Welcomes Glencore’s Decision to Cancel Undeveloped Coal Mine Proposals Submitted by ACCR in Response to ‘Snowball Investor Pressure’
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- Top Story | Australia moving closer to implementing internationally coordinated climate reporting requirements: initial consultations started
- Sustainability Disclosures: ASIC has made board oversight of sustainability and governance practices a key focus.
- Vanguard withdraws from Net Zero Asset Managers Initiative
- EU Climate Action: Interim Agreement Announced at CBAM
- Brief | ShareAction’s latest report identifies 25 of Europe’s largest banks in their approach to climate change (i.e. climate and biodiversity governance, climate risks, climate change opportunities, biodiversity strategy and policy). (engagement and collaboration with stakeholders), and concluded that the bank “lacks action on climate and biodiversity”. ShareAction wrote to each lender’s CEO outlining how the group believes it can “close loopholes in climate and biodiversity strategies.”
- Brief | EPBC Law Reform: The government has outlined plans for an overhaul of Australia’s environmental law, warning that legislation is expected to be introduced to parliament by the end of 2023.Biodiversity Conservation Act
- ASIC Latest Regulatory and Enforcement Updates Released
- Top Story | Demystifying the ‘Byzantine Complexity’ of Corporate and Financial Services Law: Submission to ALRC Interim Report B
- Simplifying and Improving the Maneuverability of Financial Services and Corporate Law: New Legislative DDO Compliance Consultations | ASIC has called on all lenders to review their TMD and product governance arrangements.
- ASIC is calling on life insurers to review their claims payment systems.
- Financial regulators release joint letter to life insurers outlining premium hike concerns, urging insurers to complete review by March 2023
- ASIC has called on super funds to “enhance complaints handling” after review.
- ASIC files lawsuit against insurer alleging non-compliance with obligation to act in the utmost good faith
- FTX co-founder and CEO faces fraud charges
- Brief | Increased Access to Financial Services: AUSTRAC Advises Banks and Retirement Funds on Implementing a ‘Flexible’ Approach to Verifying the Identity of Customers in Situations Where They Are Unable to Present Standard Identification Documents issued guidance.
- Top Stories | Safer Jobs, Better Pay Bill now into law
- ASIC Launches Civil Lawsuit Against Star Board And Certain Executives
- Increasing Federal Penalty Units
- Brief | The United Nations Global Compact, together with the Australian Maritime Union, have launched new guidance for Australian businesses on managing modern slavery risks in shipping supply chains
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