The first governance code was launched in Britain 25 years ago, following a set of corporate scandals. Since then, governance has evolved to tackle more complex challenges that are no longer local—they're global, and they're pressing.
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?
This week saw the release of a new draft code for UK corporate governance. While many were distracted by measures on executive pay, the code's real mission is social "injustices", as highlighted by Theresa May last year.
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?
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.
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.
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.
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