Board Agenda is a progressive business journal & online resource which provides independent news, analysis, expert insight & intelligence about emerging corporate governance, risk, technological, environmental & strategic business issues that are shaping the roles & responsibilities of board directors, C-suite executives & the organisations they serve across the world. Read more…
16 September, 2019
25 September, 2019
29 July, 2019
Conference, 11 October, 2019
Speakers at the Global Invest Forum discussed the difficulty of integrating ESG into investment decisions without clear data or definitions of sustainability.
Sustainable finance, 8 October, 2019
Governor of the Bank of England warns that the global financial system needs to put climate-related risk "at the heart of decision-making".
Shareholder stewardship, 7 October, 2019
Statistical analysis of the impact of active institutional investors shows that firms respond to changes in investment strategy by enhancing corporate governance.
Responsible investment, 4 October, 2019
Public opinion, 3 October, 2019
Sustainable finance, 30 September, 2019
Responsible investment, 25 September, 2019
Investment, 24 September, 2019
Sustainable finance
Sustainable finance expert Sasja Beslik says the industry is changing, but that many still see sustainability principles "as a restriction".
Board recognition
Nominations for the Non-Executive Director Awards 2020 are now open. Jacqui Ferguson, a winner in 2018, says NEDs play a vital role in turbulent times.
Responsible investment
Campaign group's head of policy and research Will Martindale says sustainability is not as deeply embedded in portfolio construction as it should be.
Interview: Guy Singh-Watson on employee ownership
The founder of organic farm and veg box delivery firm Riverford, Guy Singh-Watson, explains what’s wrong with “testosterone-fuelled boards”, and why he believes in employee ownership and a purpose beyond profit.
The Non-Executive Director Awards were established in 2006, by Peel Hunt, to recognise the achievements of Non-Executive Directors who contribute daily to the success and growth of businesses and Not-for-Profit organisations across the UK. Nominations for the 2020 Non-Executive Director Awards are now open. Watch the video to find out more about how to enter.
Best practices in corporate reporting
Panmure Gordon Economic Briefing
Stay ahead of emerging threats with DFIN, IBM, Darktrace, and CyberHive for a detailed look into how you can protect your company and board from emerging threats
In Australia recently, shareholders filed legal action against Commonwealth Bank—it had allegedly failed to disclose climate risk accurately. Could this be the first of many such cases? How should directors report on climate change risks in the face of an uncertain future?
The digital and technology revolution is a force for good in society, but we must all address the impending impact and any unintended consequences it may cause.
The gulf between executive and employee pay is widening, but nomination and remuneration committees should exercise restraint, argues Angeli Benham of Legal & General.
Prime minister Theresa May's approach to governance may be distancing the current government from a Thatcherite belief in the free market.
Boards must set the tone for due diligence as consumers and regulators scrutinise how firms address environmental and human rights risks in supply chains.
Proxy voting and management engagement are the best hopes to boost the number of women on boards—before regulators step in.
Pushing a particular formula for getting more women onto boards is a surefire way to narrow the conversation and slow progress, argues Catherine Banat.
Theresa May has reiterated her policy intention of placing employee representatives on company boards. Catherine Casey argues that workers bring expertise from the "floor" and will cultivate collaboration.
The world of work and business has changed fundamentally over the past 30 years, giving boards a range of new responsibilities. How should board structure evolve to reflect this new environment?
The UK's Corporate Governance Code has remained largely unchanged since its introduction in 1992. Chris Hodge examines how we can realign its purpose to match today's expectations of what it ought to achieve.
Women tend to be more pessimistic than men when assessing their own competence, so could this explain differences in choice of work, and therefore the gender pay gap?
Voting is not just about boardroom composition but also the quality of organisations’ diversity policies, and that is why LGIM is putting its money where its mouth is.
Investors are increasingly concerned that the workforces in which they invest are properly supported. A new initiative will provide them with vital information to help ensure they are.
CEOs of some of the biggest global firms have publicly opposed Trump’s travel ban, but will they show the same commitment to the environment?
Research shows an improvement in public opinion on ethical business behaviour. But is business really behaving more ethically, or does it just appear more favourable when compared with other scandal-hit sectors?
Campaign group ClientEarth has made formal complaints against two energy companies, claiming they failed to properly address climate risk in their annual reports. David Cooke, a lawyer with ClientEarth, explains why.
UK business has made "great strides" in corporate governance, but recent events at BHS and Sports Direct have prompted questions about the behaviour of some directors. David Doughty argues that business needs to clean up its act.
Being a company director requires much more than simply knowing the law, says David Doughty.
With at least one in nine employees in the average UK workforce being a carer for a loved one, boards should value and support these employee carers—or risk losing them, which impacts upon business and society.
Having more women and people from diverse ethnic and skill set backgrounds serving as board directors has real and measurable benefits for the health of your organisation.
There is little indication that banks are giving IT the kind of attention it undoubtedly needs.
In the eyes of society, business is in the doghouse. How can we rebuild corporate trust and restore self-esteem? The answer lies in looking at the bigger picture, argues Edward Speed.
Accountants can embed lasting change in corporate culture by helping businesses to assess and communicate their non-financial information (NFI) and make the right decisions to ensure a more sustainable economy.
The 2017 Good Governance Report paints a positive picture of the quality of boardroom decisions in our largest organisations, but the focus must now turn to ensuring that the writ of the board is driven down through the organisation.
Reform of the financial system towards a sustainable economy has been detailed in an EU report, whose recommendations—which draw upon corporate governance reform—impact upon fiduciary duties in varying degrees.
A significant change is now needed from boards across the UK—and possibly the introduction of quotas—if we are to ensure cultural change across corporate UK.
The market for impact investing is now worth around $1.3trn. It is an opportunity for boards to steer their companies towards work that returns social or environmental benefits.
Boards must pay heed to labour abuses in their supply chains by ensuring strong risk management and building stable relationships—or face the many damaging consequences.
The European Commission has a new president and is working on its strategic agenda. What should be the new administration's priorities?
Small and mid-cap companies need a better regulatory framework, which recognises that their needs differ distinctly from SMEs, and which will enable them to compete and thrive on a fairer playing field.
Psychological experiments suggest that secure leaders are more likely to seek counsel from peers, while insecure bosses prefer to ask an algorithm. What are the implications for leadership?
Comment: The EU’s revised Shareholder Rights Directive comes into force this week. But while some investment managers are embracing the opportunity to engage boards on ESG issues, others appear to be hoping they will go away.
The controversy over Sir Nigel Rudd's multiple chairships is part of a trend of investors—and governance experts—challenging overboarding and questioning whether non-executive directors can meet their commitments.
Comment: A report suggests that activist investors are softening their approach as they increasingly target European companies. So who are they targeting and what can boards do to prepare?
Comment: The special committee's investigation into governance issues highlighted by the Carlos Ghosn affair reveals a corporate culture that allowed the "concentration of authority" in the CEO and a board that felt unable to ask the necessary questions.
As stock exchanges allow dual-class shares in a bid to attract new listings, investors worry they that represent a “watering down” of listing requirements.
The UK government is investigating share buybacks, but could capital allocation be a subject for more disclosure and the corporate governance code?
The concept of value has changed over the past decade; now, there is growing realisation that a more holistic, inclusive approach to business is the way forward.
Higgins, Board Agenda's resident cartoonist, seems to think that some board executives just don't get this whole sustainability thing—but their businesses will lose out in the end if they don't embrace it.
With the tide of digital revolution upon us, Higgins, Board Agenda's resident cartoonist, proposes a radical alternative to going with the digital flow.
Higgins, our resident cartoonist, turns his attention to boardroom diversity.
If business is to restore public confidence and trust, then responsibility must fall with directors to communicate with society beyond company reporting, argues Irena Prijović of ecoDa.
Chairs and board members must understand their organisation's financial risk policy and hedging strategy to ensure that they can ask the right questions—and mitigate the risks posed by volatile financial markets.
Despite the government’s U-turn, there remains a good case for companies to bring employees into the boardroom, says Janet Williamson of the TUC.
Paying executives extra doesn't guarantee optimum performance. It's a question of balance, argue Jenni Henderson and Josh Nicholas.
Tesco's accounting scandal helps demonstrate that continuous “improvements” underlying the UK Code of Corporate Governance have, over the past 23 years, amounted to little more than a minor facelift.
Transparency, alignment and the impact on employees are all considerations when forming an approach to rising levels of executive pay.
John Hurrell argues that a new approach to risk leadership is required in our more challenging business environment.
Participants in the Corporate Reporting Dialogue have concluded a global market consultation on building better alignment between reporting frameworks.
The International Integrated Reporting Framework will help companies translate their commitment to the UN Sustainable Development Goals into business models and corporate purpose.
It's time to recognise that sustainable development is a strategic issue that can secure the future of business, as well as securing a better future for people and planet, says Jonathan Labrey of the IIRC.
The prize for economics goes to two men who have helped reduce risk in contract design.
Board members must be clear on how their organisation’s data and IT infrastructure is being protected from the growing ransomware threat—and whether to pay up in the event of an attack.
Effective speak-up procedures help boards to understand and improve their organisational culture. But employees won't come forward unless they feel supported.
Recent cases of controversial social media posts have focused attention on what happens when employees' beliefs or opinions contradict their employers' values. It's the responsibility of the board to lead an offline discussion with staff about the boundaries of their personal and professional personas.
The debate over good governance should be led by practitioners, not regulators, but companies need a deeper understanding of how their boards operate, says Ken Olisa of the Institute of Directors.
Abenomics brought a host of changes to Japan, not least the introduction of a new stewardship code for investors. The code is now being updated with new guidance, explains Kerrie Waring of the ICGN.
Differential share ownership has become a preoccupation with some tech companies but, argues Kerrie Waring, there’s little evidence that it helps companies plan for the long term.
Odgers Berndtson initiative CEOx1Day allows students to experience leadership by shadowing a top chief executive. CEO Kester Scrope and student Isabelle Mettan-Ure describe their day together.
Private equity boards are often viewed as high-performing teams, but Kieran Moynihan, chairman of Board Excellence, explores whether PLC boardrooms could do just as well.
To enhance the benefits of diversity for corporate social performance, efforts should be directed at holding boards more accountable to diverse stakeholders and improving the status of women, says Kris Byron
High-quality explanations for deviation from corporate governance codes are needed if the "comply or explain" principle is to take root across the EU.
The key focus of governance reform should not be on reducing the number of scandals, but instead on how to encourage risk-taking and investment in pursuit of a societal purpose, says think-tank Tomorrow's Company.
New technology offers the possibility of improving the quality of audit and adding value—but the human relationship between organisation and auditor must not be lost.
Knowledge and skills in the boardroom must evolve with the risks and opportunities presented by technology—as well as its associated data—if companies are to remain competitive.
Comment: Negotiations to leave the EU have proved enormously complex and have exposed major fault lines in British politics. But the process has also been instructive about the challenges and principles of leadership. Our commentators discuss the lessons they take from events so far.
The rise of loyalty shares—conferring multiple voting rights—is disrupting the principle of fair and equal treatment of all shareholders in Europe and beyond.
Splitting the roles of CEO and chair may help companies prepare for future challenges and avert the risks associated with concentrating power in the hands of one individual.
A government green paper proposes binding votes on executive pay. Michael Price argues that the "corporate elite" has tried and failed to self-regulate and it is time for something new.
There is renewed hope in France for economic policy and its impact on corporate governance. Michel de Fabiani examines the expected positive outcomes for business.
Contact with investors should no longer be about winning support for policy decisions. It’s all about building deeper relationships, writes Mirza Baig, global head of governance at Aviva Investors.
Privatisation and self-regulation has created a financial services sector in the west that is rife with fraud and other criminal activity, says professor Nada Kakabadse of Henley Business School.
A spotlight has shone on showbusiness since the beginning of the #metoo campaign, but how can women feel empowered and make a difference in boardrooms?
The future of corporate reporting is a subject attracting much debate and activity in recent years. A new report from the ICAEW captures the views of key stakeholders, and finds that technology is central to the discussion.
The current social and environmental crisis requires radical action from businesses. Corporate governance can be a key driver in transforming the economy.
The world's business and political elite meet this week in Davos for the annual World Economic Forum shindig. Paige Morrow argues they should focus on an end to shareholder primacy to reduce inequality.
Socio-economic diversity may present a more complex problem than gender or ethnic diversity, but it makes commercial sense to sort it out.
The recently revised UK Corporate Governance Code has re-emphasised the importance of whistleblowing. Resources are available to help boards ensure they are well placed to support the process.
The audit market is being accused of lacking competition, but there is a case for reforming ownership rules.
In response to Board Agenda's interview with Lady Lynn Forester de Rothschild on inclusive capitalism, Paul Kearns of the Maturity Institute continues the debate with the idea that "inclusive" really should mean inclusive.
Efforts to improve global reporting on human capital management represents a major shift in corporate governance, and offers companies a competitive advantage that no board should ignore.
The new Social & Human Capital Coalition will help make business more successful and society more resilient, argues Peter Bakker.
There have been increasing concerns that the data held at Companies House is inaccurate and that its public availability is open to misuse. A recent consultation aims to resolve these issues.
A worker representative in the boardroom is an option for companies under the UK's new, revised governance code. A survey by ICSA reveals that other options will prove more popular.
The ICSA's recent conference revealed that reform in the UK is unlikely to involve legislation, that company secretaries play a big role in managing boardroom tension and that governance has evolved into restoring faith in capitalism.
A new project has been launched to develop advice for companies to improve stakeholder communications. Peter Swabey explains why and what the objectives are.
The shift to integrated reporting may not be easy, but Richard Howitt of the International Integrated Reporting Council argues that if we are to create long-term value, it is crucial to embed it as a key governance principle.
With South Africa's economy facing more tough times ahead, an increased focus on stewardship is vital. King IV should be used as a platform for good governance practices, argues Robert Lewenson.
Tapping into the thinking of young professionals on issues that affect business, society and the economy is a vital part of any evolutionary process. Corporate governance is no exception.
Compliance with the UK corporate governance code has improved but Simon Lowe argues that compliance is no longer sufficient.
Investors serious about climate change cannot settle for disclosure; their attention must now be on action, writes Sophia McNab of investment charity ShareAction.
Cybersecurity is at the top of boardroom agendas. Stephen Bonner of Deloitte asks whether boards need a member who is a dedicated cyber expert.
The concept of good governance should be taken a step further, to one of good board self-governance—especially if companies are to navigate difficult, disruptive times.
Growing stakeholder pressure prompts changes in director recruitment, evaluation, and education, says Susan Stautberg of the WomenCorporateDirectors Foundation.
How some expressions used in the boardroom can offend or reveal bias. Meanwhile, is the hunt for a new chair at an end?
The new non-exec has to have something to do. Cue the comi-tragic process of finding a new chair.
Board leaders exist on stormy seas of change. The question is, can they stay afloat by adapting to the way the wind is blowing, or will they go down with the ship?
Since gender pay gap reporting rules came into force last year, some boards are playing dirty to avoid exposing higher male pay ratios.
A new corporate governance code is all well and good, but will it be an improvement on the last? Only if it asks the right questions, argues Board Agenda's Secret Ned.
King IV’s “apply and explain” approach is resulting in the release of overwhelming amounts of information, which are obscuring—rather than highlighting—governance issues in South Africa.
Climate change has placed a premium on moving to sustainable business models and a low-carbon economy. The task will need “positivity of purpose“ and “informed assessment“ of climate risks, writes Tom Delay of the Carbon Trust.
Now, more than ever, boards need to repair and rebuild public trust. The answer lies in looking beyond profit and compliance, argues Turid E. Solvang.
While executive pay may be perceived by many to be about scale, new research finds that less may well be more; indeed, the best-performing companies have been found to pay their CEOs relatively less than others.
Hospitality & mining, 8 March, 2019
Paola Bergamaschi Broyd joins the international hotel group as a NED, while Martyn Konig becomes executive chair at the mining company.
High fliers, 7 March, 2019
Ruth Kelly joins the Heathrow board, Network International hires Ron Kalifa and Cindy Rose takes NED role at WPP.
New chairs, 6 March, 2019
Don Robert is to become chair at the London Stock Exchange Group, while Martin Barrington and Tim Score take the boardroom reins at AB InBev and British Land respectively.
Conference, 11 October, 2019
Speakers at the Global Invest Forum discussed the difficulty of integrating ESG into investment decisions without clear data or definitions of sustainability.
Responsible investment, 25 September, 2019
Campaign group's head of policy and research Will Martindale says sustainability is not as deeply embedded in portfolio construction as it should be.
Research, 19 September, 2019
Academics warn that introducing mandatory corporate social responsibility (CSR) reporting rules could have "unintended consequences".
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Financial services Brought to you by Mazars
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Psychology
A new report calls for radical reform of UK governance, placing six policy levers at the core of creating "purposeful" companies that would benefit both business and society. Alex Edmans explains how this could be achieved.