25 Mar THE NEXT ESG BATTLEGROUND: CLASS ACTIONS; GREAT MOMENTS IN PR: P&O FERRIES.
Welcome to this week’s business and media intelligence update.
THE NEXT ESG BATTLEGROUND: CLASS ACTIONS
Get ready for the next battleground over environmental, social and governance (ESG) commitments: organisations that fail to meet their targets are likely to find themselves facing costly class actions, according to legal heavyweight Coors Chambers Westgarths.
The law firm predicts that in 2022 investors will increasingly use class actions to change corporate behaviour and practices, rather than to solely attain damage payouts.
The firm argues that investors are already considering ESG when assessing portfolio risk, paying ever closer attention to the ESG practices and disclosures of listed companies, in Australia and elsewhere.
Litigation is the obvious next step. Of course.
GREAT MOMENTS IN PR: P&O FERRIES
UK transport company P&O Ferries made a media splash this week globally for all the wrong reasons: they sacked 800 staff over a Zoom call, without any warning.
The company said the redundancies followed losses of over £100 million.
But dismissing your workforce over a videocall?
Not surprisingly, the company’s brand health and perception nosedived, falling 18 points, according to YouGov.
Which begs the question: what were they thinking?
MINING FAILS TO ATTRACT
The growing focus on environmental and social issues is making it increasingly difficult for mining companies to attract new workers, according to a survey by advisory firm BDO Australia.
Only 15 per cent of respondents to the global survey said they would be interested in working in mining, while 42 per cent of businesses said they found it difficult to attract and retain recent graduates.
Younger generations, it seems, are pretty picky when it comes to earning a living, with 60 per cent of those surveyed saying a positive impact on the environment was important in choosing a job.
TO WHOM IT MAY CONCERN…
Turns out we’ve moved on from the ye olde salutation.
In fact, we have given up on salutations entirely, according to Financial Times columnist Pilita Clark, who says sending an email without an opening greeting is becoming increasingly common.
But it isn’t necessarily recommended.
Addressing someone for the first time without a greeting can simply come across as rude and it does little to motivate your respondent to read on.
Instead, the FT recommends you stick to “dear”. Not only do you avoid coming across as rude or a robot, but you may even stand a chance of having your email read.
For more tips and tricks, read here.
THE ROAD TO RESILIENCE
Apart from the terrible human toll, the recent devastating floods across Queensland and NSW have left behind plenty of damaged and pot-holed roads and sunken bridges.
So, when it comes to rebuilding, what should we do?
Ken Slattery, the Chief Executive of industry group Cement Concrete & Aggregates Australia (CCAA), a Cannings client, argues that it’s time for governments at all levels to start thinking long term when it comes to rebuilding infrastructure, including roads.
He spoke to ABC Radio National on resilience and infrastructure this week.
To find out more, listen here.
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