When it comes to doing what is morally right, there are some things that are best not left to the market, writes Martijn Boersma, lecturer in the UTS Management Discipline Group.
Last week, CNBC reported that a Goldman Sachs analyst wrote in a note to clients: “Is curing patients a sustainable business model?” The argument he allegedly put forward was that healing people with a one-shot cure does not bring in the same revenue stream that chronic therapies do and is therefore bad for business in the long run.
My latest research finds that effective approaches to child labour in global supply chains are characterised by companies engaging with a broad range of stakeholders, taking a contextual and holistic approach by considering local circumstances and broader human rights, and by focusing on prevention and remediation. By shifting from code of conduct and auditing based approaches towards stakeholder collaboration and due diligence, companies are moving away from reactive and paternalistic approaches to child labour and instead increasingly adopt proactive and pluralistic strategies. The influence of the UNGPs has the potential to ameliorate some the tensions in multi-stakeholder partnerships by requiring companies to be first movers and using this advantage to include stakeholders rather than exclude them in developing CSR strategies. While these developments can help to elevate child labourers from latent and discretionary stakeholders to expectant and dependent stakeholders, they continue to rely on CSOs to add weight to their claims.
Medibank Private, Mirvac Group, DUET Group, Spark Infrastructure and Woolworths are among the top ASX 100 companies for appointing women to boards, a new report says.
Some of the worst in the same index include TPG Telecom and Qube Holdings, with no female board members. Westfield had one woman on its board out of 12 spots and Oil Search has one out of nine, the Catalyst think tank report released on Tuesday shows.
“Empowerment of the world’s women is a global imperative,” UN Secretary General Ban Ki-moon said at the 2016 World Economic Forum. Although the worldwide trend to promote equal opportunities has also impacted Australia, progress in the corporate world is slow and a change in pace is required. Improving disclosures is a good place to start.
In 2010, the ASX Corporate Governance Council made several amendments to its Corporate Governance Principles and Recommendations. The most prominent change was that companies should publicly disclose the number of female directors, senior managers and total number of women in the workforce, as well as progress against diversity objectives established by the board.
New research by Catalyst Australia finds that ASX50 listed companies – Australia’s largest companies and industry leaders – tick all the gender reporting boxes. But while some progress is made concerning women on boards, facilitating the career advancement of women into executive positions remains a problem area.
Likewise, while ASX50 companies do refer to pay equity, our research finds their disclosures are limited and often do not include figures for management or the workforce.
Why are boards standing by and watching as the companies they govern take our environment to hell in a handbasket? The banks are a case in point, as researcher Martijn Boersma from Catalyst Australia, recently wrote: “While banks frequently mention risk assessments, they nevertheless continue to finance unsustainable activities.” Since 2008, banks collectively have invested tens of billions into the carbon-rich fossil fuel sector, but do not include these details in their CSR reports.
While the movement to eradicate child labour has gained significant pace, there is still a lot of ground to be covered and work to be done by companies and investors in conjunction with trade unions and NGOs, writes CSR researcher Martijn Boersma from Catalyst Australia.
In its latest report, Catalyst Australia examines the efforts and collaboration of global unions, NGOs, companies, and investors in dealing with child labour in global supply chains.
At first sight child labour may not appear to be a material issue for Australian companies and investors. However the fragmentation of global production and trade has dramatically increased the length and complexity of supply chains, which can lead to lack of oversight and worker exploitation. The global movement to eradicate child labour has gained significant pace over recent years. Increasingly, global unions and NGOs collaborate with companies and investors to find ways to deal with the risks of child labour in global supply chains. This report looks at those efforts.
Some of Australia’s property companies are gaining top global accolades for their sustainability performance but according to a damning new report the commercial property sector as a whole is failing to meet even basic sustainability benchmarks.
The newly introduced G4 guidelines provide a great opportunity for Australian companies to showcase their supply chain performance, but the issue is to disclose supply chain issues that might not be on the radar of the Australian public, says CSR researcher Martijn Boersma.
The Australian annual general meeting (AGM) season is upon us, and has been preceded by the release of annual reports outlining the financial performance of companies listed on the Australian Securities Exchange. In addition to financial results, many companies will be outlining their sustainability performance, either through integrated reporting or via stand-alone sustainability reports.