18 Feb THE STRENGTHS AND WEAKNESSES OF CORPORATE AUSTRALIA REVEALED; MANAGING CLIMATE RISK FOR DIRECTORS
Good morning. Welcome to the latest weekly edition of Cannings’ Media and Business Insights.
REPORTING SEASON: THE STRENGTHS AND WEAKNESSES OF CORPORATE AUSTRALIA REVEALED
- Almost a year after the pandemic broke out, the underlying strengths and weaknesses of Australia’s biggest companies are being starkly exposed this reporting season. Some that were already struggling before the pandemic are finding themselves in even bigger holes, particularly those in industries suffering the pain of disruption. Read all about the challenges facing corporate Australia here.
MANAGING CLIMATE RISK FOR DIRECTORS
- ASIC Commissioner Cathie Armour has reinforced the regulator’s position that disclosing and managing climate-related risk is a key director responsibility. In her letter, Armour says ASIC is monitoring the reporting of climate risks under the Financial Stability Board’s Taskforce for Climate-related Financial Disclosures (TCFD), noting that voluntary adoption of TCFD reporting by some larger listed companies has materially improved standards of climate-related governance and disclosure in the market. Read the letter here.
DO AS I SAY, NOT AS I DO
- Global consultancy firm Bain, which advocates for more female leaders in business, was in hot water this week when research confirmed that fewer than a quarter of its full-time managers are women – the lowest proportion of the three strategy consulting firms. Read the analysis by The AFR here.
THE TICKING TIME BOMB INSIDE THE NEW WORLD OF WORK
- The new hybrid way of working – some days in the office, some at home – isn’t going to be as easy as we all think. That’s according to economist Nicholas Bloom, who says the biggest concern is the looming “discrimination crisis”, which is likely to impact women. Read his research in the Financial Times.
FORGET THE OLD SAYING, NEVER TALK TO STRANGERS
- Remember being taught as a kid to never talk to strangers? Well, the Wall Street Journal is urging us to forget that. Strangers can soothe and support us when no one else is around, or boost our mood with a smile or a laugh. But social distancing and lockdowns mean we’re missing out on these exchanges. Read why – and how – we should work to make them happen here.
Feel free to share these updates with colleagues or friends. They can sign up here to receive our daily newsletter.