• DIN regime: Treasury is consulting on a draft data standard and draft disclosure framework to support the implementation of the director identification number regime

• SEC sides with Exxon to block two shareholder resolutions, denies Exxon's request to block a further two
• Transition commitment: Shareholder resolution withdrawn at HSBC following engagement
• Shareholder climate lobbying resolution filed at Rio Tinto (again)
• Successful engagement: Valero has agreed to introduce ESG metrics into executive pay plans in response to a shareholder resolution
• In Brief | 'Say on Climate': Santos has announced that following consultation with shareholders, it will provide shareholders with a non-binding advisory vote on the company’s Climate Change Report at the 2022 Annual General Meeting.  The ACCR which has filed a shareholder resolution at the company seeking an annual say on climate, has welcomed the announcement and it's intention to continue to 'continue to engage with the company over the coming weeks about a recurring annual vote beyond 2022'
  
   

• DOL to 'revisit' Trump-era ESG rules and will not enforce compliance, ISS has welcomed the statement
• ACSI has pledged support for the Uluru statement from the heart
  
   

• Top Story | Getting closer: Senate Committee endorses proposed changes to continuous disclosure and meeting requirements
• Support for a hybrid format: ACSI is broadly supportive of the government's proposed approach to the modernisation of meeting requirements
• Semler Brossy finds that more shareholder ESG resolutions than ever are receiving 50% or more support, despite the pandemic
  
   

• Top Story | Changes to responsible lending on the way?
• Responsible lending: Consumer group CHOICE has reiterated concerns about the possible rollback of responsible lending laws and welcomed the deferral of debate on the Bill
• Compliance with the General Insurance Code of Practice: Code compliance Committee reports a 5% uptick in the number of reported breaches in FY2019-20
• Hayne implementation: ASIC is consulting on its proposed approach to implementing the deferred sales model for add on insurance ahead of the 5 October commencement date
• Hayne implementation: Consultation on breach reporting regulations
• End of LIBOR dates confirmed: The FCA and BoE have urged market participants to complete their LIBOR transition plans
• APRA releases draft reporting standards for data collection in National Claims and Policies Database
• In Brief | Treasury Laws Amendment (Reuniting More Superannuation) Bill 2020 has passed both houses
• In Brief | ALRC Financial Services Legislation Inquiry: The Australian Law Reform Commission has welcomed the appointment of Perth based Federal Court judge the Hon Justice Craig Colvin as a part-time Commissioner for the review of the legislative framework for corporations and financial services regulation
• In Brief | The case against rolling back responsible lending laws: Members of a consortium of 12 academics who conducted an in-depth analysis of the proposed changes have outlined why they believe the changes should not be progressed
  
   

ESG

• Fortescue metals sets 2030 target for carbon neutrality
• In Brief | Inevitable transition? Energy Australia has brought forward the closure of the coal-fired Yallourn power station from 2032 to mid-2028 as part of its strategy to be carbon neutral by 2050.  The ACCR has welcomed the commitment as a 'sign of the times' and called on other energy providers to fast-track closure dates
• In Brief | The Climate Council has issued a statement calling on the government to rethink Australia's current climate policy including setting tougher emissions reduction targets and a plan to achieve them, in light of the decision of the European Parliament to introduce a carbon levy against high polluting nations

Cybersecurity, Technology and Privacy

• Ransomware threat: Government report reminds directors of their existing duty to ensure appropriate oversight of cyber risk
• Australia's cybersecurity strategy: What is our approach to reconciling developing our cyber offensive capability while also protecting vulnerable businesses?
  Breaking the grip of default settings? As part of its digital platforms inquiry, the ACCC is seeking feedback on the impact of default settings on consumer choice/competition
• In Brief | Regtech in the context of whistleblowing: Flinders academic Vivienne Brand has written a paper discussing the possible application of AI in the context of corporate whistleblowing including considering whether 'whistlebots' could replace human whistleblowers and the possible advantages and disadvantages of such a development.  Among other things, Professor Brand asks: 'Will a whistlebot be a more effective teller of truth than the human whistleblowers we are coming to rely on in modern corporate regulatory systems, free of anxiety as to the emotional consequences?'
  In Brief | Deloitte report into global trends in technology, media and communications predicts growth in digital reality, virtual doctor visits, cloud, and sports tech will continue to intensify, fuelled by the pandemic

Other Developments

• Global CEO survey finds cyber risk and climate risk have risen up the list of CEO priorities
• Rosy view: Business Roundtable survey finds CEOs are optimistic about the US economic outlook

• Bill to prohibit 'all sexual harassment' introduced into the House
• Race Commissioner calls for a new national framework to address the resurgence of racism in Australia
• Productivity Commission Review into supply chain vulnerabilities extended to July 2021