Governance News 27 January 2021

60 minute read (PDF download)  27.01.2021 Mark Standen, Siobhan Doherty, Kate Hilder

This ESG focused issue includes coverage of BlackRock CEO Larry Fink's annual CEO letter as well as recent developments in reporting and remuneration.  This issue also features coverage of Lazard's annual review of levels of shareholder activism globally.  In addition, the issue covers key financial services developments and more…

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https://www.minterellison.com/articles/governance-news-27-january-2021

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Diversity Navigation Show below Hide below

  • Time for Australia to introduce board and workplace (gender) quotas?
  • Pushing ahead on closing the gender pay gap (COVID notwithstanding)
 

Remuneration Navigation Show below Hide below

  • Stakeholder focus is increasingly being reflected in incentive design and Australian companies are leading the way

Shareholder Activism Navigation Show below Hide below

  • On the rebound: Lazard review finds levels of shareholder activism rebounded in Q4 2020, with overall activity down only 13% on 2019 levels
  • Corporate governance regulatory reform as a driver of shareholder activism?
     

Institutional Shareholders and Stewardship Navigation Show below Hide below

  • Top Story | Larry Fink's annual letter 2021: Tell us how you are moving to net-zero
  • Divestment vs collective engagement: Market Forces campaign calls on superannuation fund to dump fossil fuel investments
     

Meetings and Proxy Advisers Navigation Show below Hide below

  • Failure to adequately safeguard shareholder rights could lead to adverse voting recommendations: Glass Lewis confirms its stance on electronic meetings heading into 2021

Disclosure and Reporting Navigation Show below Hide below

  • Enabling more 'decision-useful' reporting: Updates to the International <IR> Framework released

Corporate Social Responsibility and Sustainability Navigation Show below Hide below

  • Fair compensation: Unilever announces plans to cease doing business with firms unless they pay all employees a living wage
  • WEF launches global coalition to tackle workplace racism
     

Financial Services Navigation Show below Hide below

  • Top Story | COVID-19 business interruption insurance: UK Supreme Court test case details
  •  Top Story | COVID-19 business interruption insurance: Lessons from the UK
  •  Barriers to the provision of financial advice: SAFAA argues ASIC needs to move away from a 'one size fits all' advice model
  •  AFCA jurisdiction: AFCA amends rules following ASIC direction
  •  FSRC recommendations 4.14 and 4.15: APRA launches further consultation on SPS250 and releases draft guidance
  • Addressing the 'COVID-19 super-gap': The AIST has urged the government to proceed with the planned increase in the superannuation guarantee
     

Risk Management Navigation Show below Hide below

Cybersecurity, Technology and Privacy

  • ASIC cyber incident: A server used by ASIC was accessed without authorisation
  • Cybersecurity incident: RBNZ's investigation into the incident is continuing
  • Recent cyber incidents linked to use of the same software?
ESG

  • Disclosure is not enough: Stakeholders expect companies to live up to their public ESG stance (and so far, they're unconvinced that companies are doing so)…
  • Climate risk: Australia to sign up to two new international agreements and unveil a refreshed national climate resilience and adaption strategy in H2 2021
  • In Brief | Key concerns: The World Economic Forum's latest Global Risks Report identifies environmental risks (extreme weather, inaction on climate change and human environmental damage as the top three risks by likelihood
     

Restructuring and Insolvency Navigation Show below Hide below

  • Top Story | Webinar: Unique situations call for timely action – how funds and financiers can take advantage of distressed debt opportunities

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https://www.minterellison.com/articles/governance-news-27-january-2021

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