ISS-Corporate’s Post

What does the Omnibus Package mean for CSRD? 🇪🇺 Read more here: https://lnkd.in/eynyHsUP The President of the European Commission Ursula von der Leyen said last week that the commission would launch a "far-reaching simplification of our sustainable finance and due diligence rules". We looked into what this 'simplification' really means - including whether corporates should expect CSRD reporting requirements to be postponed 📚 #esg #esginvesting #esgreporting

"From 1 January 2025, many large Australian businesses and financial institutions will need to prepare annual sustainability reports containing mandatory climate-related financial disclosures, following the passage of a major bill through Parliament. The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 (Cth) passed Parliament on 9 September 2024 and received Royal Assent on 17 September 2024. ASIC Commissioner Kate O’Rourke urged those entities captured by the rollout to proactively engage with these mandatory climate reporting requirements. ‘Large businesses and financial institutions should ensure that they implement appropriate governance arrangements and sustainability record-keeping processes ahead of the mandatory climate reporting requirements taking effect from 1 January 2025,’ said Commissioner O’Rourke. ‘This is a significant reform that will have far-reaching implications for many of our key stakeholders. ASIC recognises there will be a period of transition as organisations develop the capabilities required to comply. We will take a proportional and pragmatic approach to supervision and enforcement as industry adjusts to these new requirements.’ Throughout this transition, ASIC will continue to ensure current disclosure and governance standards in relation to voluntary sustainability disclosures are maintained and that entities comply with their existing legal obligations. This includes the longstanding prohibition against misleading and deceptive conduct." https://lnkd.in/gbqGyDHd #bcorp #bcorporation #bcorps #goodbusiness #goodbusinessesdogood #goodbusinesspractices #good4business

2024 Australia Proxy Season Preview According to a recent ISS | Institutional Shareholder Services analysis, there is a growing trend of shareholders holding Australian company directors accountable for governance and performance failures, resulting in substantial board turnover. There are a number of emerging and continuing controversies in 2024 regarding problematic pay practices, failures of board oversight, regulatory intervention, and governance failures. As a result, elevated votes against director elections may continue and, consequently, a continuation in board refreshment and turnover. Separately, there will likely be less activity on environmental and social (E&S) proposals this annual meeting season based on recent trends. Eight of the largest ASX 100 companies submitted their management-endorsed say on climate resolutions in 2022, accompanied by 11 companies with shareholder proposals. By comparison and in 2023, there were only six companies with shareholder proposals and three more companies submitting their management say on climate resolutions. For the 2024 AGM season, preliminary market soundings indicate that activity on E&S proposals will continue to be subdued. Read more key findings from the report, authored by Vas Kolesnikoff, at: https://lnkd.in/egXASMVw Learn more about our governance research and voting services at: https://lnkd.in/dE2Y6pVQ #Australia #CorporateGovernance #ESG

Laurel Hill Advisory Group (Canada) is pleased to share our summary of the changes to ISS’ benchmark policy guidelines for Canada applicable for shareholder meetings held or after February 1, 2025. Please contact David Salmon or Bill Zawada should you have any questions or to discuss your 2025 AGM needs #esg #esginvesting #executivepay #executivecompensation #corpgov #governance #corporategovernance 

A good summary with full Australian taste!!

A useful best practice guide to help with transition planning toward climate risk reporting and broader sustainability reporting.

The new EU CSRD readiness report was incredibly revelatory! It highlights a significant gap between mid-market companies and enterprises in their readiness for CSRD. Mid-market businesses are 23 points behind larger enterprises, and without the same level of resources, it's tough to know where to begin. The report dives into what companies are doing to close this gap, offering valuable peer insights and actionable advice to get started. If you’re in the same boat as our mid-market respondents, I highly recommend checking it out! 👉 bit.ly/3PzBJQq #CSRD #Sustainability #ESG #RegulatoryCompliance #BusinessInsights

With the reporting season looming, dive into this insightful analysis detailing how ASX small-cap companies are actively addressing sustainability reporting. Gain insights into the evolving regulation and the key concepts critical for finance professionals and directors to grasp. #WeAreForvisMazars #Sustainability #ESG

Have you been following along with the recent announcements and indicative updates by the Australian Accounting Standards Board on the ASRS? These latest updates will ensure comparability between local and international standards, allowing companies to leverage existing practices and processes. Our ESG Strategic Advisory team has prepared an informative article to help Australian businesses understand what the changes will mean for them. Follow the link to learn more: https://lnkd.in/gEF5aW3v #SLRInsights #MakingSustainabilityHappen #ASRS #ClimateReporting Leslie Mathew John | James Balík-Meacher | Miguel Oyarbide