Board Agenda 005
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Data protection regulation, 5th February 2018
European Commission urges businesses to prepare for data protection law
Businesses across the EU are urged to step up their preparations for the new data protection law, which comes into effect in May.
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Purpose, 17th January 2018
Larry Fink: companies must make a ‘positive contribution’ to society
Larry Fink, chief executive of BlackRock, the world's largest asset manager, says it will step up its engagement with boards in an effort to forge a "new model of shareholder engagement".
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Climate reporting, 29th November 2017
Are directors courting legal action by keeping quiet on climate risk?
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?
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Conduct at work, 30th January 2018
Confidence high in harassment and misconduct policies after Weinstein
Few organisations have overhauled their harassment and misconduct policies, despite the Harvey Weinstein scandal and the #metoo campaign.
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Governance, 16th January 2018
Carillion directors face probe after company goes into liquidation
Official receiver to examine the conduct of Carillion directors past and present as it supervises the liquidation of the support services and construction company.
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Shareholder activism, 5th February 2018
Dutch corporate governance committee calls for more shareholder activism
The Dutch corporate governance committee believes "it’s time to pay more attention to the role and involvement of shareholders, particularly with regard to long-term value creation".
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Fossil fuels, 17th November 2017
Norway’s sovereign wealth fund to disinvest from oil and gas
Norges Bank, advisers to the Norwegian government, has proposed selling oil and gas assets estimated to be worth $37bn.
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Climate change, 15th January 2018
MPs ask if voluntary climate-risk reporting recommendations are enough
A inquiry by UK MPs into green finance initiatives will also ask whether climate-change-risk disclosure recommendations from a G20 task force will work as a voluntary process.
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Corporate governance Holland, 8th December 2017
Dutch shareholders oppose inclusion of governance in accountants’ role
Shareholders say accountants are not qualified to examine the "broad terrain" of corporate governance compliance.
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Audit materiality reporting, 12th December 2017
‘Communication gap’ found between audit committee chairs and auditors
Audit committee chairs must push for more audit materiality information; auditors must be more transparent; and investors must understand the process better, says the Financial Reporting Council.
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Regulation compliance, 13th February 2018
Compliance: take it or leave it
Compliance with regulation and the law is an essential part of business, but a new report reveals that companies are aware of failings and that the appetite for abiding by the rules is surprisingly low.
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Data protection, 25th January 2018
GDPR and staff data: the final countdown
General Data Protection Regulation comes into force in May, with sweeping new requirements for businesses that handle personal data.
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Supply chains, 20th November 2017
Campaigners call on EU to back mandatory human rights due diligence
The European Union should introduce compulsory human rights due diligence for companies to check their supply chains, argues campaign group the European Coalition for Corporate Justice.
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Gender pay equality, 19th December 2017
Regulator warns of ‘unlimited’ fines for failures over pay gap reports
The watchdog supervising gender pay gap reporting has signalled it will seek big fines and convictions if companies fail to comply with disclosure rules that come into force in 2018.
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Governance in the Gulf, 20th November 2017
Governance in the Gulf still lags behind global peers, says S&P
Proliferation of government-backed organisations and family-owned enterprises in the Gulf create a governance risk that regulation can only slowly wear away, says a global ratings agency.
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Paris Accord, 25th April 2017
Exxon under pressure over climate change reporting
Shareholders call on oil giant Exxon to produce regular reports on the implications of the Paris Accord, to restrict the rise in global temperature to 2℃.
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Procurement, 22nd November 2017
Tenders may face investigation on intra-group collusion
Companies that are part of the same corporate group which are tendering separately in public tenders may need to prove absence of collusion, the EU Advocate General has ruled.
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Government policy, 27th November 2017
Industrial strategy calls for improved reporting of capital allocation
Better reporting is needed to support "long-term" investment, says the UK government, but it is criticised for failing to mention human capital in its long-anticipated Industrial Strategy.
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Audit reform, 24th January 2018
Hong Kong set to create independent audit regulators
New measures in Hong Kong will see the creation of an independent regulator for audit firms with the powers to investigate and impose fines.
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Global risk, 9th February 2018
Risk hotspots: a global roundup
Board Agenda reports on risk around the world, from Korean hopes for peace and Tesla's gamble on growth, to pressure on plastics firms and rumblings in German politics.
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Technology and data, 8th May 2018
How boards can use technology to retain a competitive edge
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.
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Women on boards, 28th February 2018
Board gender diversity requires a diversity of attitude
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?
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Capital allocation, 26th February 2018
Share buybacks: a question of governance?
The UK government is investigating share buybacks, but could capital allocation be a subject for more disclosure and the corporate governance code?
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Executive rewards, 22nd February 2018
Why modesty is king when it comes to CEO remuneration
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.
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Corporate governance, 22nd January 2018
Twenty-five years of the UK Corporate Governance Code
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.
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Interview: Philip Aiken on keeping an ear to the ground, 5th March 2018
View from the chair: Philip Aiken—Balfour Beatty & Aveva
Philip Aiken, chairman of Balfour Beatty and Aveva, spends much time visiting his overseas operations—it's the best way to get first-hand feedback, he says.
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Corporate culture, 26th February 2018
Corporate culture: concept into focused action
Culture has become a headline issue for companies but few seem to pay it more than lip service. How do you turn such an important issue into focused action?
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Risk and ethics, 7th March 2018
Ethical turn: the welcome marriage of risk management and ethics
Amoral risk management is no longer welcome, so risk managers are “flirting” with ethics. The relationship may be tumultuous, but it could be a huge and healthy step forward, writes Anette Mikes.
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Governance review, 12th March 2018
Time for a governance rethink: enforced compliance or not?
Have current codes of practice significantly improved corporate governance around the world? If not, then it may be time to review the case for enforced compliance.
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Governance code revision, 21st February 2018
Could a revised governance code offer broader scope?
A revision of the UK’s Corporate Governance Code is out for consultation. Will it bring a halt to corporate scandal, and does it promise a bigger, broader objective?
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Corporate governance reform, 23rd February 2018
Which direction for corporate governance?
What began as a response to corporate scandal, corporate governance is making great strides in driving leadership accountability in Europe—but it’s still a work in progress, with views and policies differing considerably.
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Whistleblowing process, 16th March 2018
Whistleblowing: the problem with speaking out
According to research, most whistleblowers raise the alarm by first approaching their boss or senior managers. However, if they then turn to regulators, it's a clear sign that management has failed to listen.
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Stewardship, 14th March 2018
The promises and limitations of institutional investors
Policymakers believe that investment institutions can be persuaded to take a greater role in corporate governance. But do they really possess the willingness and capacity to embrace their stewardship role?
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Ethics and technology, 26th January 2018
Artificial Intelligence: the ethical dimension
Businesses are racing to embrace the use of artificial intelligence in their products and services, but there is a right and wrong way to use it, argues Philippa Foster Back of the Institute of Business Ethics.
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Human rights, 9th March 2018
Stepping up supply chain protection
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.
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Ethics and culture, 14th December 2017
Lead by example: the many benefits of ethical leadership
Ethical leadership can help avoid corporate crises if it is embraced by boards that are increasingly less tolerant of reputational risk.
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Leadership skills, 19th March 2018
Inside the minds of ‘athletic’ leaders
CEOs who can turn turmoil into triumph have many personality traits in common with world-class athletes.
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Women on boards, 15th February 2018
Stronger together: the wider benefits of women on boards
We know that women improve company boards, but a recent study reveals that they also offer better support to less powerful stakeholders and, in turn, make their companies better corporate citizens.
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Interview: Jane Diplock on integrated reporting, 16th March 2018
Paradigm shift: Jane Diplock, IIRC
Jane Diplock, one of the founders of integrated reporting and a committee chair at the International Integrated Reporting Council, believes we’re finally moving towards a new, more holistic era for capitalism — but it’s early days yet.
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Interview: Katharina Latif on sustainability strategy, 2nd March 2018
Core strengths: Katharina Latif, Allianz
Katharina Latif of insurance giant Allianz explains how her climate and sustainability team transitioned from the firm’s fringes to its strategic centre—and what its next steps will be.
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Governance compliance, 12th February 2018
Evolving a corporate governance code that is fit for purpose
The UK’s Financial Reporting Council has published proposals for a streamlined governance code, while research from Mazars, in association with ecoDa, finds compliance with the existing framework to be variable.
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Board packs, 7th February 2018
How good board communication can mitigate risk
The growing need for corporate accountability has shown how up-to-date, accessible information is crucial for directors—enter the digital board pack.
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Investor activism, 7th February 2018
Activist investors: the corporate world’s new fixture
Boards beware: as investor activism becomes more prevalent, directors would do well to prepare for the worst—an issue that few companies have properly considered.
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Stakeholder engagement, 12th February 2018
A very strategic engagement: stakeholders and long-term value
Attending to the needs of all stakeholders will make an enterprise more successful in the long term, but it’s up to boards to engage with them in a fair and open way.
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Board technology, 7th February 2018
Sustainable business begins with digital boardrooms
A digital board portal can help businesses to become more sustainable, not just on an environmental level but also in terms of efficiency and security.
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COMMENT: Corporate governance, 23rd February 2018
The Secret NED: time for the governance code to find its direction
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.