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Banks face multi-billion risks from climate change: Accenture

RACHEL ALEMBAKIS  |  THURSDAY, 22 JUL 2021  |  NEWS
The global financial services industry faces $600 billion in climate change risks with widespread implications for banks across credit risk, market risk and operational risk, according to research from by Accenture. According to the climate disclosures ...

Activist group files climate resolution to AGL AGM

RACHEL ALEMBAKIS  |  WEDNESDAY, 21 JUL 2021  |  NEWS
... stations at a time when the market was starting to move in the opposite direction. "Recent meetings with members of the Board suggest AGL is not prepared to set Paris-aligned targets, despite that now being a clear expectation of emissions intensive ...

ASIC reviewing greenwashing in financial products

RACHEL ALEMBAKIS  |  THURSDAY, 15 JUL 2021  |  NEWS
ASIC is reviewing whether sustainability labelled super funds and managed fund are as they claim to be, with the aim of establishing how much greenwashing is present in the Australian market. Currently, there is no regulated definition of ESG, sustainability/green/responsible ...

ASX200 CEO pay drops to lowest levels in more than decade: ACSI

RACHEL ALEMBAKIS  |  TUESDAY, 13 JUL 2021  |  NEWS
The CEO of CSL's pay jumped by more than a third in the 2020 financial year, but overall pay outcomes for ASX200 CEOs fell to their lowest levels in more than a decade. The Australian Council of Superannuation Investors (ACSI) published its 20 th edition ...

CEO, board salaries cops COVID-19 hit: Governance Institute

RACHEL ALEMBAKIS  |  THURSDAY, 8 JUL 2021  |  NEWS
CEOs, board directors and senior management were not immune to the economic impacts of COVID-19, with the Governance Institute of Australia finding that fewer CEOs received salary increase and bonuses falling as well. The Aon and Governance Institute ...

Global fund manager evolving approaches to ESG investing

RACHEL ALEMBAKIS  |  TUESDAY, 6 JUL 2021  |  NEWS
... NTAM, I was active in terms of being part of industry organisations, such as SASB- The Sustainability Accounting Standards Board, furthering the ESG investment agenda. That's an area I will continue to carry forth." Northern Trust Asset Management's ...

Hostplus announces four board appointments

RACHEL ALEMBAKIS  |  THURSDAY, 1 JUL 2021  |  NEWS
Industry super fund Hostplus has replaced three board members and one alternative director, with one departing director facing a campaign from climate activist group Market Forces. Peter Collins, an independent director, Mark Robertson and Mark Vaile ...

QSuper members call for greater climate action

RACHEL ALEMBAKIS  |  THURSDAY, 1 JUL 2021  |  NEWS
... members who want that fund to strengthen its climate change risk management. Equity Generation Lawyers has written to QSuper board chair Don Luke asking him to "explain why QSuper has delayed quantifying the fund's carbon exposure, commit to fully disclose ...

IOSCO calls for comparable, reliable ESG reporting standards

RACHEL ALEMBAKIS  |  TUESDAY, 29 JUN 2021  |  NEWS
... sustainability-related disclosure requirements." IOSCO noted that IFRS is seeking to establish an International Sustainability Standards Board (ISSB) to sit alongside the International Accounting Standards Board (IASB). IOSCO announced it plans to consider ...

Wesfarmers taps former Coca-Cola Amatil exec for board role

RACHEL ALEMBAKIS  |  FRIDAY, 25 JUN 2021  |  NEWS
Wesfarmers has announced the appointment of Alison Watkins to its board. Watkins will assume the role in September. Most recently, she has worked as group managing director of Coca-Cola Amatil for seven years, stepping down on 10 May 2021 following ...