• Boards are falling short on overall effectiveness: US survey finds executives want boards to be more prepared, more engaged and more willing to challenge management

• Findings of the fifth and final Hampton-Alexander Review released: FTSE 350 boards crack 33% target
• WGEA has announced that the national gender pay gap has fractionally decreased over the past six months to 13.4%
• US Disability groups are urging SEC and Nasdaq to include people with disabilities in Nasdaq's board diversity proposal
• 2020 Study into gender diversity on US private company boards finds only 11% of seats are held by women
• In Brief | The Governance Institute is launching its flagship directors course in a women's only format in a bid to boost senior leadership roles for women.  Governance Institute CEO Megan Motto said that the aim is 'to encourage a new level of diversity at the top by helping equip, empower and inspire the next generation of female leaders'
  
   

• Successful engagement: As You Sow has withdrawn a climate resolution at Citigroup, the bank has announced a net-zero by 2050 commitment
• In Brief | Net zero commitment not enough: ShareAction has released an investor brief making the case for backing the shareholder climate resolution at HSBC calling on the bank to publish a strategy to reduce its exposure to fossil fuel assets on a timeline aligned with the Paris climate goals at the May AGM
  
   

• 'Activist stewardship'? Engine No 1 pushes for board change at Exxon Mobil with support from CALSTRS
• UK Investment Association outlines investors' expectations of companies ahead of AGM season
• In Brief | What good looks like: ShareAction has released a best practice guide to responsible investing that brings together a set of case studies showcasing leading practice by mainstream asset managers on four responsible investment topics:  responsible investment governance, climate change, human and labour rights and biodiversity.  The aim is to encourage all companies to improve their investment practices across all four topics, given that at present though there are pockets of strong practice, no company 'achieves full marks' in every topic
• In Brief | BlackRock has released more detail on its approach to engagement on climate risks/opportunities and the transition to a low carbon economy.  Among other things, BlackRock flags that it expects individual directors to have 'sufficient fluency in climate risk and the energy transition to enable the whole board—rather than a single director who is a "climate expert"— to provide appropriate oversight of the company’s plan and targets'
• In Brief | Factoring in the risks and opportunities of the 'green' transition: BlackRock is building energy transition into its capital market assumptions as part of a series of actions to prepare for a net-zero world
• In Brief | BlackRock's annual CEO letters work: New study confirms that BlackRock's annual CEO letters are effective in prompting companies to adapt/expand their disclosure to reflect the topics in the letters and to more closely align their lobbying efforts with the issues highlighted in the letters
  
   

• Addressing inequality: Could introducing a right for workers to appoint board representatives work in the US context?

• Top Story | New voluntary BNPL Code now in effect
• Proposed changes to ASIC remediation guidance: SAFAA has raised concerns that ASIC is adopting a 'one size fits all' approach that is not suited or appropriate to smaller organisations
• APRA data shows that the number of loans subject to repayment deferral continues to decrease
• Hayne Bill aimed at protecting against 'fee for no service' conduct receives assent
• Insurance: Second  business interruption test case has commenced in the Federal Court
• APRA tells bushfire inquiry that maintaining the accessibility and affordability of insurance requires investment to address the underlying causes of the pressure on the system 
• In Brief |  APRA has confirmed it has revoked Xinja Bank's ADI licence after the bank announced its intention to exit the banking sector in December 2020 and the completion of its return of deposits process
• In Brief | APRA data shows that superannuation assets had increased $3.0 trillion over the twelve months to 31 December 2020, a 2.2% increase over the period.  Minister for Superannuation, Financial Services and the Digital Economy, Jane Hume said that this is a 'clear indicator' of the resilience the system but cautioned that the government considers there is room for improvement to address high fees, persistently underperforming funds and too many duplicate accounts.  'The Morrison Government is determined to continue our arc of reform ensuring the superannuation system is working harder for all Australians'
• In Brief | Treasury Laws Amendment (Reuniting More Superannuation) Bill 2020 passed the Senate with amendments on 25 February 2021
• In Brief | Responsible lending Bill: National Consumer Credit Protection Amendment (Supporting Economic Recovery) Bill 2020 has progressed to second reading stage in the House.  The Senate Economics Legislation Committee is due to report on 12 March
• In Brief | APRA releases finalised reporting standard for ARS 115.0 Capital Adequacy will will apply for reporting periods ending on or after 1 January 2023 to align with the Basel Committee on Banking Supervision’s decision to delay the international start date of the Basel III standards
• In Brief | Sustainable finance: IOSCO's 2021-22 work programs highlights 'the urgent goal of improving the completeness, consistency, and comparability of sustainability reporting', greenwashing and ESG ratings as priorities
  
   

Culture

• Top Story | Start managing sexual harassment in the workplace differently

ESG

• UN Secretary-General calls for the cancellation of all global coal projects in the pipeline to 'end the deadly addiction to coal'
• Pressure on business to lead on the green transition: Ceres letter CEOs calls on them to take concrete steps to realise and to publicly support measures to put the US on a path to net zero emissions by 2050
• Climate litigation: Sharma v Minister for the Environment
• In Brief | Australia's emissions have fallen but there is disagreement over why: A government report has found that emissions are at their lowest level since 1995.  Minister for Energy and Emissions Reduction Angus Taylor says that the result primarily reflects the 'significant long-term structural declines in emissions from the electricity and agricultural sector'.  The Climate Council argues that the result is due to the efforts of the states and territories as well as due to the impact of the pandemic (rather than to the efforts of the Federal government)
• In Brief | UK ETS: The Intercontinental Exchange Inc (ICE) has published an auction calendar for the UK's new emissions trading scheme.  Subject to regulatory approval, the first ETS auction will take place on 19 May.  UK Energy Minister Anne-Marie Trevelya described the publication of the auction calendar as a 'crucial step towards our target of eliminating our contribution to climate change by 2050…today’s publication will give businesses and operators clarity over this year’s supply of emissions allowances, enabling them to plan ahead, build back greener and better prepare for the transition to a low-carbon economy'

Cybersecurity, Privacy, Technology

• Hacked: Oxfam has announced that a database containing supporter information was unlawfully accessed in January
• OAIC has released COVID-19 Vaccinations privacy guidance for employers
• OAIC review of privacy guidance

• The Bill to establish a mandatory media and digital platforms bargaining Code has received Assent
• In Brief | The Royal Commission into Aged Care Quality and Safety’s Final Report - Care, Dignity and Respect - has been tabled in the Australian Parliament.  The five volume report includes 148 wide-ranging recommendations to fundamentally reform the aged care system.  The Commission has recommended that the government report to Parliament by 31 May 2021 on its response to their recommendations.  The government has said it will give 'careful consideration' to the report and outline 'the path to transform aged care in the budget'.  The government has also announced a range of 'immediate measures' as a starting point for further reform