Governance and stewardship news

Australia’s largest banks expect to reduce exposure to climate-risk affected industries, according to new research by the Australian Prudential Regulation authority (APRA).

The Global Reporting Initiative (GRI) has published its latest Biodiversity Standard, targeting companies to disclose their most pressing biodiversity impacts to boost the clarity of data.

Legislative reforms to tackle the increased use of strategic litigation against public participation (SLAPP) cases against journalists and watchdogs have been proposed by the UK government.

New standardised ‘high level’ cybersecurity rules are being proposed for the EU by the European Council, which will bring more firms under this regulatory reach.

A major greenwashing study has been launched by three of Europe’s most powerful financial regulatory bodies.

Rishi Sunak has urged the UK’s top executives to react to the cost-of-living crisis by showing “restraint” with their pay.

AGL Energy’s Board was overhauled at its recent AGM due to concerns over its climate risk management and a shareholder campaign by tech billionaire Mike Cannon-Brookes. AGL is Australia’s largest greenhouse gas emitter, and the voting results will place pressure on other large emitters to accelerate their decarbonisation plans.

The UK's Financial Conduct Authority (FCA) has seen progress in its case alleging market abuse against the former Globos Plc. CEO, Mr Konstantinos Papadimitrakopoulos, and former CFO, Mr Dimitris Gryparis.

The Taskforce on Nature-related Financial Disclosures (TNFD) has released an ambitious third draft of its beta framework and is calling for greater transparency from companies.

Seven West Media (SWM) has had to reissue its 2022 remuneration report after discovering it was based on miscalculations by external consultants Ernst & Young (EY).