ESG Archive

Jul 13, 2020
SASB and GRI to provide guidance on joint implementation
The Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI) will work together to provide guidance to companies about how to implement both of their ESG reporting standards concurrently. Some issuers have complained of an ESG reporting alphabet soup as they’ve tried to come to terms with the differences between SASB, GRI, the Taskforce on Climate-relate...
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Jul 08, 2020
How to move from CSR to ESG reporting
The notion of CSR has been around for years, its history going back to environmental reporting. These reports were purely voluntary and boards paid little attention to them beyond the ‘good for you’ attitude. Most certainly, none of this information was a meaningful part of regulatory documents filed with the SEC, such as S1 and 10K forms.  Despite the concept of sustainable investment having been around for decades, it has grown in significance, popularity and...
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Jun 26, 2020
ESG proposals rejected but make inroads at Delta AGM
Two first-time ESG shareholder proposals – while not being approved – secured significant levels of support at Delta Air Lines’ recent AGM, as momentum continues for environmental and social measures at US companies. A proposal requesting that the company release a report on its political contributions received the backing of 46 percent of the votes cast. Simil...
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Jun 20, 2020
Investor group endorses ‘statement of solidarity’ on racial justice
As many companies across the US take today – the anniversary of when the final group of former slaves were told they were free – as a public holiday for the first time, Corporate Secretary sister publication IR Magazine continues to explore the extent to which racial justice could emerge as a more prominent investing or stewardship theme. The Racial Justice Investing Coalition – a group of 112 asset managers, owners and corporations – released ...
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Jun 18, 2020
SASB backs European plan to boost ESG reporting
SASB has put its weight behind a European regulatory project that the board believes may result in global standards for ESG reporting by companies. At issue is Directive 2014/95/EU, more commonly referred to as the non-financial reporting directive (NFRD). The European Commission (EC) in February launched a consultation to collect feedback on potential changes to the directive, with comments due by June 11. SASB has submitted a ...
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Jun 17, 2020
Canadian business leaders launch anti-racism project
A group of senior Canadian businesspeople has launched a new council and initiative aimed at increasing racial diversity among the country’s boards and executive teams. The move comes amid growing calls for governments and companies to address racial inequality following the deaths of African Americans including Breonna Taylor, Ahmaud Arbery and George Floyd. The Canadian Council of Business Leaders Against Anti-Black Systemic Racism, which is launching what it ca...
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Jun 12, 2020
The week in GRC: Companies make racial justice pledges, and activists target corporate leaders
– The Financial Times reported that US civil rights groups have received a wave of donations from companies since Minneapolis police killed George Floyd. The FT found more than $450 million in pledges to groups focused on social and racial justice, which usually depend more on individual donations, often from people in disadvantaged communities. For example, Walmart and its fo...
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Jun 12, 2020
Influential proposal providers face uncertainty
On May 21, 1971, shareholders at General Motors’ (GM) annual general meeting voted on an unusual resolution put forward by the Episcopal Church. Shareholders were asked to consider whether GM should withdraw its workforce from South Africa entirely, given that ‘many potential GM customers, employees and dealers here and abroad’ would be offended by the policy of apartheid. The resolution received support from 1.29 percent of the company’s shareholders – including...
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Jun 04, 2020
Companies urged to spell out their purpose
New survey finds most respondents want corporate purpose aligned with UN sustainability goals Investors expect companies to describe their purpose and report on its implementation, according to new research. The findings come as issuers use the idea of corporate purpose to help steer them through the difficult decisions thrown up by the Covid-19 pandemic.  The study, by shareholder advisory firm SquareWell Partners, finds that around three quarters of...
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