ESG/Social Responsibility


JBS

News Brief

NYAG lawsuit: JBS misleading public with sustainability claims

2024-02-29T20:54:00+00:00By

Two U.S. subsidiaries of Brazilian meat processing company JBS are the subject of a lawsuit filed by the New York attorney general accusing the businesses of using misleading statements and marketing regarding their environmental commitments.

Business ethics

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Best practices for determining need for a human rights policy

2024-02-29T13:21:00+00:00By

Does your business need a human rights policy? An increasing number of organizations believe they do, according to research firm Gartner.

ESG

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Grewal: Investors care about ESG claims—so do SEC enforcers

2024-02-27T20:34:00+00:00By

Environmental, social, and governance issues are increasingly material to investors, and the Securities and Exchange Commission is checking to ensure businesses’ ESG statements are above board, according to the agency’s enforcement director.

Walmart

News Brief

Walmart shares successes behind supplier emissions reduction initiative

2024-02-27T12:25:00+00:00By

Retail giant Walmart announced the completion of an initiative to reduce emissions in its supply chain six years earlier than its intended target.

James Levey 3x2

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Q&A: ManpowerGroup compliance director on CSRD prep efforts

2024-02-19T14:00:00+00:00By

James Levey, compliance director at global recruitment agency ManpowerGroup, discusses with Compliance Week his focus on preparing the group’s European operations to gather the data required for compliance with the EU’s Corporate Sustainability Reporting Directive.

Climate

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Verifiable data key as companies begin TNFD-aligned disclosures

2024-02-15T14:47:00+00:00By

More than 320 organizations worldwide committed to disclosing their impact on nature following the recommendations of the Taskforce on Nature-Related Financial Disclosures.

AI climate

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Jury out on viability of AI in ESG reporting

2024-02-05T12:13:00+00:00By

Tech vendors believe ESG reporting is a ripe market for artificial intelligence to help companies sift through data and ensure compliance with both mandatory and voluntary reporting standards. Compliance officers appear less sure.

Richard Brasher 3x2

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Q&A: LKQ sustainability VP on importance of environmental data

2024-02-01T14:01:00+00:00By

Richard Brasher, vice-president of sustainability at multinational automotive parts company LKQ Corp., discusses with Compliance Week his view on the added attention sustainability initiatives are receiving and where improvement remains.

California AG

News Brief

Business groups sue to halt California climate disclosure laws

2024-01-30T21:20:00+00:00By

A coalition of business groups filed a lawsuit opposing two California laws that require large businesses to make climate-related disclosures, calling it a fight against illegal and excessive government overreach.

Brasseur_opinion

Opinion

Ten things I’d like to see happen in 2024

2024-01-08T16:02:00+00:00By

Election years in the United States, United Kingdom, and at European Parliament, along with ongoing geopolitical tensions, make 2024 difficult to predict—aside from the expectation compliance officers will be busy.

ESG regulations

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Compliance with CSRD, CS3D, national laws an EU balancing act

2023-12-28T14:50:00+00:00By

Companies could be in danger of failing to comply with a raft of social responsibility-minded legislation at the European Union and national level because they might mistakenly think duties on corporates overlap when they do not.

Unilever

News Brief

Unilever facing U.K. probe into green claims

2023-12-12T20:25:00+00:00By

Consumer goods company Unilever will be scrutinized by the U.K. Competition and Markets Authority regarding its marketing of certain products as environmentally friendly.

SEC office

News Brief

SEC fall regulatory agenda: Climate disclosure rule targeted for 2024

2023-12-07T17:48:00+00:00By

The Securities and Exchange Commission’s latest regulatory agenda remains packed with proposals in the final rule stage, most notably the agency’s climate-related disclosure package.

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Webcast

CPE Webcast: Navigating the 2024 ESG landscape

2023-12-07T14:00:00+00:00Provided by

Gain a greater understanding of the current ESG landscape and learn how technology solutions can help you manage your program

CFTC

News Brief

CFTC proposes guidance for voluntary carbon credits

2023-12-04T19:28:00+00:00By

The Commodity Futures Trading Commission promoted the need for developing high-integrity voluntary carbon markets in publishing proposed guidance for the listing of voluntary carbon credit derivative contracts.

Greenwashing

News Brief

FCA adopts rule package aimed at thwarting greenwashing

2023-11-29T19:49:00+00:00By

The Financial Conduct Authority will implement a series of rules to minimize instances of “greenwashing” in the U.K. market.

ESG data

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More companies enter ‘discovery phase’ of ESG reporting in 2023

2023-11-28T16:00:00+00:00By

Climate-related disclosure efforts are amplifying year over year, despite persistent and persnickety pain points, as more organizations widen the scope of their ESG journeys, our “Inside the Mind of the CCO” survey found.

CWE 2023 Supply Chain

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Supply chain due diligence must go beyond self-assessments

2023-11-01T14:00:00+00:00By

So many companies rely on suppliers to self-certify they comply with buyers’ codes of business conduct that the practice is “almost useless,” a panel of experts discussed at Compliance Week’s Europe conference in London.

Federal Reserve

News Brief

Banking regs release climate-related risk management framework

2023-10-25T18:32:00+01:00By

Federal banking regulators issued a long-promised framework that provides guidance on the safe and sound management of climate-related financial risks at large banks.

CWE 2023 ESG

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Social risks prove tripping point in early CSRD compliance efforts

2023-10-24T14:00:00+01:00By

Companies are still struggling to report meaningfully on societal risks as part of their efforts to meet demands for better environmental, social, and governance disclosures, experts discussed at Compliance Week’s Europe conference in London.

AdobeStock_307885986

News Brief

Compliance cost concerns raised as California enacts climate disclosure laws

2023-10-11T17:42:00+01:00By

The governor of California signed off on a pair of bills containing requirements for large businesses operating in the state to make disclosures regarding their climate-related risks and impacts, though not without mentioning work to be done on the compliance ramifications associated with each law.

Deutsche Bank

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Deutsche Bank unit ESG fine less about greenwashing, more about disclosures

2023-10-03T16:58:00+01:00By

The $19 million fine against DWS Investment Management Americas levied by the SEC wasn’t to punish greenwashing, experts said, but rather a penalty imposed for the firm not doing what it claimed related to its environmental, social, and governance investment strategy.

Xinjiang

News Brief

DHS designates three Chinese companies for Uyghur forced labor

2023-09-28T19:32:00+01:00By

The Department of Homeland Security designated three companies to a growing list accused by the Biden administration of forced labor practices in the Xinjiang region of China.

Hanes

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Assessing the value of COSO sustainability reporting guidance

2023-09-26T13:27:00+01:00By

Companies that haven’t yet set up verifiable reporting in their sustainability programs have a ready reference available in the framework put out by the Committee of Sponsoring Organizations of the Treadway Commission, experts discussed at CW’s virtual ESG Summit.

Deutsche Bank

News Brief

Deutsche Bank unit fined $25M in ESG, AML settlements

2023-09-25T17:26:00+01:00By

DWS Investment Management Americas agreed to pay $25 million in penalties across separate settlements with the Securities and Exchange Commission addressing alleged misstatements in environmental, social, and governance investments and anti-money laundering violations.

Steelcase

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Startup or established: Common denominators of corporate ESG strategy

2023-09-25T15:08:00+01:00By

A pair of experts from vastly different companies swapped notes on how to scaffold and structure an environmental, social, and governance program at CW’s virtual ESG Summit.

ESG

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Experts: How ESG materiality assessments impact compliance

2023-09-22T12:52:00+01:00By

Transparency in environmental, social, and governance reporting has become an important goal, with materiality assessments impacting compliance outcomes, experts said during CW’s virtual ESG Summit.

ESG assurance

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Path to ESG assurance a crawl-walk-run exercise

2023-09-21T14:23:00+01:00By

It’s important companies exercise patience when determining when to begin an assurance engagement, experts explained during a session at CW’s virtual ESG Summit.

Emissions measurement

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Scope 3 emissions best practices: Be transparent, thorough

2023-09-20T21:46:00+01:00By

There is much companies can do—and must do, given upcoming regulatory requirements—to rein in Scope 3 emissions, sustainability expert Susan McNichols discussed at CW’s virtual ESG Summit.

SEChq

News Brief

SEC adopts revised fund name requirements

2023-09-20T20:01:00+01:00By

The Securities and Exchange Commission adopted amendments to its rule covering fund names to ensure the regulation is appropriate to address new investment drivers, namely environmental, social, and governance matters.

GHG emissions

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Experts: SEC or not, Scope 3 GHG disclosure requirements coming

2023-09-19T19:08:00+01:00By

The actions of companies like Amazon and new legislation passed in California prove it’s no longer a question of if companies will be required to disclose their greenhouse gas emissions—it’s a question of when, experts told attendees at CW’s virtual ESG Summit.

Gensler_Web

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SEC’s Gensler mum on timing of climate rule, says ‘important issues’ around Scope 3 requirements

2023-09-13T20:29:00+01:00By

Gary Gensler, despite being put on the spot by a member of Congress, declined to provide an update on when the Securities and Exchange Commission might approve its climate-related disclosure rule for public companies.

Lexmark

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Q&A: Lexmark sustainability chief on defying ESG criticism to ‘stay the course’

2023-09-08T14:14:00+01:00By

John Gagel, chief sustainability officer for Lexmark International, shares with Compliance Week why the private company tracks its greenhouse gas emissions and plans to comply with the climate-related disclosure rule proposed by the Securities and Exchange Commission.

IKEA

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Large companies in crosshairs early under German Supply Chain Act

2023-09-01T13:22:00+01:00By

Amazon, IKEA, and Volkswagen were among the companies targeted in the first round of complaints under the German Supply Chain Due Diligence Act—an early indication nongovernmental organizations will seek to hold big businesses accountable for alleged human rights violations.

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Webcast

Webcast: Unearthing environmental risk in timber supply chains using public records

2023-08-31T14:00:00+01:00Provided by

Public records can do a lot to help companies map their supply chains and understand where they are exposed to environmental risk along the way.

ESG concept

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Appreciating ESG fraud risk management

2023-08-31T13:00:00+01:00By Tim Klatte, CW guest columnist

The factors that surround the environmental, social, and governance disciplines have grown from just a few to more than 50 considerations, indicating all three ESG elements carry equal weight when evaluating a proper corporate strategy.

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Webcast

CPE Webcast: Five human capital strategies that win

2023-08-29T13:00:00+01:00Provided by Avetta

Discover how leading companies are leveraging human capital management to create a strong connection between employee well-being, sustainable and secure operations, and ESG objectives.

Christy Goldsmith Romero

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CFTC commissioner: Three ways to address climate-related financial risks

2023-08-28T17:54:00+01:00By

Christy Goldsmith Romero, a commissioner with the Commodity Futures Trading Commission, recommended three action items to help the agency and regulated entities “measure, understand, and address climate-related financial risk.”

ESG

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KPMG survey: ESG-related concerns in M&A derailing deals

2023-08-09T16:56:00+01:00By

Material findings related to environmental, social, and governance due diligence have disrupted mergers and acquisitions, forcing companies in the United States and abroad to back out of deals, according to a study from KPMG.

AILaw

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Need to know: New York City AI bias law

2023-07-28T19:02:00+01:00By

Companies that use automated tools to screen candidates for jobs based in New York City must check those systems for bias or potentially run afoul of a first-in-the-nation law.

ESG tech

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Tech capabilities key to finance support of ESG reporting

2023-07-24T13:09:00+01:00By

Finance and accounting is increasingly relied on to provide support regarding companies’ ESG disclosures without being granted additional resources. Technology that enables automation serves as a solution to reduce this burden.

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Resource

e-Book: Tech capabilities key to finance support of ESG reporting

2023-07-21T16:01:00+01:00Provided by

Businesses confronting environmental, social, and governance matters for the first time are finding value in engaging their finance and accounting teams for support.

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Webcast

Webcast: Flywheel effect of unified ESG, audit and risk, and financial reporting

2023-07-20T14:00:00+01:00Provided by

Hear from experts about unifying financial reporting, ESG, and audit and why the sum of the whole is greater than the sum of its parts.

Supreme Court

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Corporate implications of SCOTUS affirmative action reversal

2023-07-19T19:25:00+01:00By

The trickle-down effects of the Supreme Court’s decision overturning affirmative action in college admissions have already come to light. With legal attacks on diversity, equity, and inclusion efforts on the horizon, private employers should risk assess their programs.

Business success

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Survey: Investment adviser compliance ramps up testing on advertising, marketing

2023-07-13T17:55:00+01:00By

The most popular mock exams conducted by compliance professionals at investment adviser firms this year have been on the Securities and Exchange Commission’s advertising/marketing rule, according to a new poll.

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Webcast

CPE Webcast: Insights from the German Supply Chain Due Diligence Act

2023-07-13T11:00:00+01:00Provided by

The German Supply Chain Due Diligence Act (LkSG) is part of a growing focus on corporate environmental, social, and governance performance by governments and regulators.

CFTC

News Brief

CFTC assembles task forces to combat cyber and tech issues, ESG fraud

2023-06-30T16:15:00+01:00By

The Enforcement Division of the Commodity Futures Trading Commission announced it established two new task forces to combat cyberattacks and misuse of technology and environmental fraud.

Treasury

News Brief

Treasury report recommends stricter supervision of insurers’ climate risks

2023-06-27T23:42:00+01:00By

The Treasury Department’s Federal Insurance Office issued a report on gaps in how states supervise and assess climate-related risks among insurers.

Uber building

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Learning from Uber’s DEI setback: Why structure, collaboration matter

2023-06-23T18:33:00+01:00By

Experts look back at Uber’s recent diversity, equity, and inclusion fiasco and illuminate hazards to avoid, allowing organizations to gain a stronger footing on their own DEI journeys.

SEC

News Brief

SEC spring 2023 regulatory agenda: 37 rules in final stage

2023-06-14T15:50:00+01:00By

The rest of the year is shaping up to be busy at the Securities and Exchange Commission, where final rules regarding climate-related disclosures, enhanced cybersecurity risk governance, and more are all on the near-term agenda.