FTSE 350 analysis: Environmental reporting still evolving

Most companies in the UK’s  FTSE350 have met the requirements of the recent changes to the Companies Act to report more fully on environmental matters and to report on Greenhouse Gas (GHG) emissions within their annual reports and accounts, according to a study by the Climate Disclosure Standards Board (CDSB).… Read the rest

BlackRock chief calls for more long term thinking by major companies

The chairman and chief executive of investment giant, BlackRock, Larry Fink has written to the chief executives of major companies in the US and Europe encouraging them to think long-term and to provide their shareholders with more forward-looking plans. Fink wrote a similar letter last year, suggesting that companies have yet to take enough notice of his concerns.… Read the rest

Investors gather to ensure funds are used to combat climate change

The UN Secretary-General Ban Ki-moon called on investors to help achieve a doubling in global clean energy investments by 2020 at a meeting in New York last week. Although investments rose to a record high last year of $329 billion they are still not at the levels necessary to meet the Paris climate agreement’s goal of limiting global temperature rise to below 2 degrees celsius, according to US sustainability campaigning group Ceres.… Read the rest

EU consults on investors and sustainability

The European Commission is consulting on on how institutional investors, asset managers and other service providers in the investment chain factor in sustainability (ESG) information and performance of companies or assets into investment decisions. The consultation will also gather information about possible obstacles to long-term, sustainable investment.… Read the rest

State of Green Business: Institutional Investors show commitment to tackling climate change

While it is not yet clear if business as a whole has made a firm commitment to sustainable and environmentally friendly growth 2015 was the year that the investment community made critical commitments to finance sustainable growth, according to Dr. Richard Mattison, CEO of Trucost writing in the foreword of The State of Green Business 2016 produced by GreenBiz and Trucost.… Read the rest

US directors need to do more to manage risks

While US directors say that reputational risk is one of their greatest concerns board members are taking little action to manage risks once they have been identified, according to the sixth Concerns About Risks Confronting Boards survey conducted by US accounting firm EisnerAmper.… Read the rest

CBI Director General says women need to lead at all levels of organisations

Carolyn Fairburn, Director General of business group, the CBI, said that the issue of diversity needs to run right through companies and has called for a new voluntary target of 25% for female senior executives in major UK companies.

Speaking recently at an event hosted by law firm Latham & Watkins, Fairburn had been asked to speak about women on boards of companies but she argued to achieve more executive directors there needed to be promotion and support of women throughout the company so they were viewed as future leaders of companies.… Read the rest

Corporate Governance in the spotlight

The relationship between the chairman and the chief executive of a company is absolutely fundamental according to Sir David Walker, former chairman of Barclays, speaking on Radio 4’s, The Bottom Line.

In a discussion about managing the boardroom, Michael Jackson, venture capitalist and former chair of Sage Group, said the main role of the chair is to back or fire the chief executive.… Read the rest

Tesco held to account for breaching Grocery Code

Tesco has been told to introduce significant changes to practices and systems after the Groceries Code Adjudicator, Christine Tacon, found the supermarket giant had seriously breached a legally-binding Groceries Supply Code of Practice (the Code) to protect groceries suppliers.

Tacon’s investigation covered the period 25 June 2013 to 5 February 2015 and in that time she found that the retailer had acted unreasonably when delaying payments to suppliers, often for lengthy periods of time.… Read the rest

31 countries agree to share tax data as Google comes under fire for its deal in the UK

An agreement has been reached between 31 countries for the automatic exchange of information on the taxes paid by, and the economic activity of, multinational businesses. This increase in transparency between countries should help tax authorities understand if multinationals are actually paying what is considered a fair rate of tax in the countries where they do business and make profits.… Read the rest

World Economic Forum: Action required on Climate Change deal and the 2030 Sustainable Development Goals

This year’s World Economic Forum (WEF) annual meeting in Davos gave political and business leaders an opportunity to take stock of the United Nations (UN) 2030 Sustainable Development Goals and the Paris Climate Agreement (COP21) agreed last year.

Ban Ki-moon, UN Secretary-General, told participants said now it is time to act.

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FRC reviews KPMG’s audit of HBOS

The UK’s accounting regulator, the Financial Reporting Council (FRC), is to consider whether the accountancy firm, KPMG, or any individuals require further investigation following a review of the report, published last November by the Prudential Regulatory Authority and the Financial Conduct Authority, into the failure of HBOS plc.

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