26 Apr DISAPPEARING DIVERSITY GOALS; ACCC AND DCCEEW BICKER OVER MEANING OF CARBON NEUTRALITY
DISAPPEARING DIVERSITY GOALS
Diversity, equity and inclusion (DEI) goals and initiatives are disappearing off US companies’ annual reports.
The Wall Street Journal’s analysis of annual reports found that some US companies shortened descriptions or removed entire sections with some changing phrases to cut mentions of race or specific hiring targets.
Morningstar analyst Lindsay Stewart said that there has been a re-evaluation of the level of political risk companies are willing to endure, as Republican and Democrat attorneys take opposing views on the legality of corporate diversity hiring targets and programs and whether they are considered a form of discrimination.
ACCC AND DCCEEW BICKER OVER MEANING OF CARBON NEUTRALITY
How many products does a company need to sell to qualify for a Climate Action certification?
As it turns out, just one. That’s according to a new Senate inquiry into greenwashing which found that some 500 companies had already started claiming carbon neutrality certification despite the fact that the ACCC and the Department of Climate Change, Energy, the Environment and Water (DCCEEW) are still arguing about what carbon neutrality actually means.
It’s a problem that Australia Institute Climate and Energy Director Polly Hemming has termed “state-sponsored greenwashing”, and as many of our readers will no doubt be aware, it reflects ongoing corporate uncertainty around ESG compliance and regulatory standards.
According to The Australian Institute, a majority of Australians (55%) still want Australia to avoid the worse effects of climate change by following the International Energy Agency’s (IEA) policy recommendations to limit global temperature rise to 1.5°C, but as always, it’s how we get there that’s the problem.
LEADERS DOUBLE (&TRIPLING) DOWN ON SECURITY
When it comes to security, nobody does it bigger (or ‘better’) than the Americans.
BlackRock’s chief executive, Larry Fink has TRIPLED his security following backlash by conversative activists that disagree with the company’s approach to ESG investing. While seen as extreme by some, the move underscores increasing security challenges faced by prominent business figures.
Other US based leaders are following suit. Disney’s chief executive, Bob Iger received US$1.2 million for ‘security services and equipment’ last year, while Elon Musk’s bill has exceeded US$500,000 in the first two months of 2024.
The increased investment in these services is beneficial for suppliers like Securitas, the world’s largest security services firm. The company’s share price has jumped nearly 30 per cent since September.
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