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    Governance News 7 September 2022

    40 minute read + (PDF download)  07.09.2022 Mark Standen, Siobhan Doherty, Kate Hilder

    This week's issue features coverage of the CEW's Senior Executive Census 2022 which tracks progress towards gender parity in leadership roles across the ASX 300.  On the financial services front, we cover a number of significant developments including the findings of ASIC's review of IDII claims handling practices and APRA's consultation on proposed guidance for financial contingency and resolution planning.  The issue also includes coverage of various ESG and risk-related developments and more…

    Full coverage of this weeks content is now available.

    Past issues are available

    Read this issue
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    • Racial justice and workplace equity: As You Sow says over the last 12 months, the vast majority of companies it engaged on these issues agreed to improve their practices 
    • US Gun Safety: New investor campaign aims to push major credit card companies to adopt a measure enabling tracking of gun and ammunition sales
    • US Gun safety: Faith groups have urged Smith & Wesson shareholders to support a human rights due diligence shareholder resolution at the upcoming meeting
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    • In Brief | Mercy Investment Services attributes Johnson & Johnson's recent decision to discontinue all sales of talcum powder to the effectiveness of continued investor pressure (including through engagement and the filing of shareholder resolutions), noting that the group has engaged the company over a number of years 'matters of health equity' including safety concerns linked to the continued sales of talcum powder
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    • £4.5 trillion investor coalition calls on UK government to legislate mandatory human rights and environmental due diligence requirements

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    • Top Story | Regulated biodiversity certification and trading scheme announced
      Australia's climate Bills: Status update
    • Prime Minister says that Australia will continue to be a 'trusted and stable supplier of energy and resources', commits to working with the resources sector to deliver a 'predictable and orderly' transition
    • CCS is not a climate solution? IEEFA report describes CCS technology as a 'pipe dream'
    • In Brief | Falling short: New report finds the emissions targets publicly disclosed by G7 countries align with a 2.7°C decarbonisation pathway, well short of the goal of limiting global temperature rise 1.5°C
    • In Brief | Analysis released by the OECD and IEA finds government support for fossil fuels in 51 countries worldwide almost doubled in 2021 to US$697.2 billion (up from US$362.4 USD billion in 2020), slowing progress towards international decarbonisation goals. IEA Executive Director Faith Birol called for fossil fuel subsidies to be replaced with a 'surge in investment in clean energy technologies and infrastructure', arguing that this is 'the only lasting solution to today’s global energy crisis and the best way to reduce the exposure of consumers to high fuel costs'
    • In Brief | The International Renewable Energy Agency together with 13 companies across all sectors have announced the launch of a global Alliance for Industry Decarbonisation with the aim of accelerating the rate of progress on reducing industrial GHG emissions

    Financial Services Navigation Show below Hide below

    • Top Story | Room to improve: ASIC review of IDII claims handling practices released
    • APRA consults on guidance for financial contingency and resolution planning
    • ASIC releases latest financial advice exam results, outlines suggested next steps for advisers and licensees
    • ASIC’s binary options ban extended until 2031
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    • A 'unified voice' for advisers: FPA and AFA may merge
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    • In Brief | ASIC has reissued RG 169: Hawking and disclosure: Discretionary powers. ASIC states that the guide has been renamed and reformatted and outdated references have been removed, but there 'are no substantive changes' to the guidance

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    • ASIC brings criminal proceedings against audit firm and director over their (alleged) failure to uphold auditing standards

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    • Online safety: Meta and other tech platforms asked to report on the steps they are taking to meet the government's basic online safety expectations, eSafety Commissioner releases draft industry codes for initial feedback
    • US regulator takes data provider to court over the sale of 'sensitive' geolocation data: The FTC says that the data enables individuals to be tracked to reproductive health clinics and other sensitive locations
    • Enforcing AML/CTF compliance: AUSTRAC orders audit of Perth Mint 

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