ESG/Social Responsibility


AuditTransparency

EY report: Fortune 100 companies boost audit transparency, including on ESG

2021-10-26T20:13:00+01:00By

Many Fortune 100 companies continue to enhance their transparency about how their audit committees are executing their core responsibilities, according to the EY Center for Board Matters’ 10th annual review of voluntary proxy statement disclosures.

3x2 web graphic

Compliance Week National Conference is going back in person in May

2021-10-25T12:00:00+01:00By

Mark your calendars: Compliance Week’s National Conference in Washington, D.C. will be held in person for the first time in nearly three years from May 16-18, 2022.

Climate

FSOC report: Climate change ‘increasing threat’ to U.S. financial stability

2021-10-22T19:23:00+01:00By

In a report ordered by President Joe Biden, the Financial Stability Oversight Council urged market participants, public companies, and regulators to develop a common agenda to respond to climate change-related financial risk.

complianceline300x200

CPE Webcast: Metrics and authenticity to make ESG actionable

2021-10-19T14:00:00+01:00Provided by

Authenticity is the key to a company’s ESG program. Churning out press releases with catchphrases and impressions and assurances that a business is “talking the talk” or “walking the walk” is unacceptable.

Climate stress

Fed recommends member banks perform climate change stress tests

2021-10-08T19:12:00+01:00By

The Federal Reserve will encourage financial institutions to assess the potential financial ramifications of climate change by conducting stress tests, similar to those performed following the 2007-09 financial crisis.

ESG-Fulcrum

e-Book: ESG: Benchmark your initiative

2021-10-01T15:04:00+01:00Provided by

A Compliance Week and Fulcrum survey of more than 200 compliance, audit, legal, and finance executives worldwide revealed support for ESG initiatives, but uncertainty about how to monitor progress and measure results.

Climate globe

SEC offers guidance on climate change disclosure shortcomings

2021-09-24T20:30:00+01:00By

A sample letter released by the Securities and Exchange Commission this week lays out common mistakes firms make with their climate change disclosures.

Green reporting

CMA’s Green Claims Code latest effort in greenwashing crackdown

2021-09-23T16:11:00+01:00By

Companies have until the end of the year to stop making misleading claims about the green credentials of their products and services or face regulatory action, the U.K. Competition and Markets Authority has warned.

ESG

ESG survey: Measure, monitor, and enhance your strategy

2021-09-22T18:01:00+01:00By

A Compliance Week and Fulcrum survey of more than 200 compliance, audit, legal, and finance executives worldwide revealed support for ESG initiatives, but uncertainty about how to monitor progress and measure results.

proofpoint wp aug esg

White paper: New ESG Research: E-Discovery Market Trends and Challenges

2021-09-21T16:54:00+01:00Provided by

Organizations are asking more of IT, legal and compliance teams than ever before. They need to manage more data—from more data sources.

Osprey

How ContourGlobal, Osprey have established effective ESG programs

2021-09-16T19:54:00+01:00By

Crafting an effective environmental, social, and governance program is not an easy feat. At CW’s “Everything ESG” virtual event, compliance/sustainability leaders from ContourGlobal and Osprey shared how they are successfully working to meet their goals.

DEI building blocks

The dos and don’ts of building a DEI program

2021-09-16T15:25:00+01:00By

NABCRMP Founder Jennifer Newton shared how to create a sustainable diversity, equity, and inclusion program that aligns with an organization’s mission during CW’s “Everything ESG” virtual event.

Jim Massey 2

Message to compliance on ESG: ‘Step up and lead’

2021-09-15T12:50:00+01:00By

Regardless of situation, one thing all companies should have in common is a compliance presence as part of ESG decision-making, said Jim Massey during a fireside chat at CW’s “Everything ESG” virtual event.

Climate

CAQ report: Climate-related risk considerations in audited financial statements

2021-09-14T17:33:00+01:00By

A recent Center for Audit Quality report aims to provide an understanding of how company management and their auditors apply current U.S. accounting and auditing requirements for financial statements related to climate-related risks.

Jean Rogers

Own your ESG materiality strategy, advises SASB founder

2021-09-14T16:11:00+01:00By

Jean Rogers advised companies not to rely on regulators and organization frameworks over internal expertise when it comes to determining ESG materiality as part of her keynote at CW’s “Everything ESG” virtual event.

Betty Huber

With SEC rulemaking imminent, ESG disclosure prep takes center stage

2021-09-13T18:17:00+01:00By

A deluge of SEC rulemaking on ESG matters could begin as early as next month, prompting Davis Polk’s Betty Moy Huber to kick off CW’s “Everything ESG” virtual event with an overarching message on the importance of preparation.

ESG accounting

ESG matters have financial reporting implications now

2021-09-13T12:50:00+01:00By

While the possibility of SEC regulation mandating additional ESG disclosures remains a hot topic, the potential effects of ESG matters on a company’s financial accounting and reporting are not a future consideration.

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Why compliance must play part in sustainability initiatives

2021-09-07T15:50:00+01:00By David Povey, International Compliance Association

A recent poll of International Compliance Association members revealed a perhaps surprising appetite within the profession for seizing expanding sustainability responsibilities.

Green accounting

Study: Auditor assurance over ESG reporting still in early stages

2021-09-03T13:22:00+01:00By

Despite an increase in ESG disclosures that is expected to continue, a significantly low number of public companies have obtained audit firm assurance regarding that reporting, according to a new study.

Employee incentives

Attracting top talent post-COVID means living employee values

2021-08-26T20:51:00+01:00By

In emerging from the pandemic, the hiring landscape has changed. The companies to thrive in this environment will be the ones that quickly adapt and recognize the kind of care and attention their employees need.

COVID vaccine

COVID-19 vaccine mandates no less tricky after FDA approval

2021-08-26T18:11:00+01:00By

Determining the best way to get your employees vaccinated against COVID-19 means considering a handful of key issues, in addition to being prepared for difficult conversations.

McDevitt_opinion

‘Intentional Integrity’ urges conviction in tackling ethical dilemmas

2021-08-23T16:51:00+01:00By

In his book, Rob Chesnut, former chief ethics officer at Airbnb, teaches business leaders how to weave ethics into the fabric of a company’s culture and ensure a little pulling on the integrity thread will not cause the firm to unravel.

Richard Jones

One-on-one with Richard Jones: What lies ahead at FASB

2021-08-23T12:32:00+01:00By

A year into the job, FASB Chair Richard Jones catches up with Compliance Week regarding recent improvements to major accounting standards, ongoing projects, future topics of interest, and more.

Boardroom

LRN survey: E&C programs thrive when boards are engaged

2021-08-11T15:39:00+01:00By

The more boards are engaged in measures of ethics and compliance, the more positive an impact on corporate culture, leadership, and business decisions, a new report from LRN finds.

Nasdaq

SEC approval of Nasdaq board diversity proposal adds to nationwide momentum

2021-08-10T16:16:00+01:00By

The SEC approved rule changes proposed by Nasdaq that will put in place a new board diversity mandate and further require companies listed on Nasdaq’s U.S. exchange to make public disclosures regarding the composition of their boards.

Vanessa Benavides index

Q&A: How Kaiser Permanente has handled change brought by COVID-19

2021-08-06T14:24:00+01:00By

Vanessa Benavides, chief compliance and privacy officer and senior VP at Kaiser Permanente, shares how the company adjusted its policies and procedures because of COVID-19 and the lessons she learned along the way.

Human trafficking

Report: Human trafficking undeterred by COVID-19

2021-08-05T15:56:00+01:00By Jon Prentice, International Compliance Association

While many aspects of life over the last year have stagnated because of the pandemic, human trafficking has not slowed down. A new report from the U.S. Department of State explores the latest trends.

Jaeger_opinion

Activision Blizzard scandal signals day of reckoning for video game industry

2021-08-03T17:34:00+01:00By

Activision Blizzard is not only a case study in how not to respond to allegations of sexual harassment and discrimination in the workplace—it’s also the latest blatant showing of managerial recklessness in an industry ripe for transformational change.

Pharmaceuticals

Compliance ramifications of proposed $26B opioid deal for pharma industry

2021-07-29T17:27:00+01:00By

Three major drug distributors and drugmaker Johnson & Johnson reached a proposed $26 billion multistate agreement for their alleged roles in fueling the nationwide opioid epidemic. The settlement imparts compliance lessons on the pharmaceutical industry at large.

OCC

​OCC appoints first climate change risk officer

2021-07-28T16:53:00+01:00By

The Office of the Comptroller of the Currency has appointed Darrin Benhart as its first climate change risk officer—a move in line with the agency’s plans to better develop effective climate risk management practices at banks.

ESGReporting

What companies (and the SEC) can learn from U.K. ESG reporting guidance

2021-07-26T16:39:00+01:00By

The U.K. Financial Reporting Council has proposed a series of measures from which companies—as well as other regulators like the SEC—could benefit as ESG disclosures receive closer scrutiny.

Julia Brncic

Q&A: Cigna’s approach to SEC human capital disclosure requirements

2021-07-16T13:41:00+01:00By

Julia Brncic, senior vice president, chief counsel and corporate secretary at Cigna, shares how the global health insurance company is complying with new human capital disclosure requirements in Regulation S-K.

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CPE Webcast: The rise of ESG in third-party risk management

2021-07-15T14:00:00+01:00Provided by

ESG and its role in third-party risk management have gained prominence this past year as the awareness for environmental and social issues continue to grow.

RisksAhead

Survey: Emerging TPRM trends in anti-corruption

2021-07-07T20:12:00+01:00By

Kroll’s newest anti-corruption benchmarking report highlights current TPRM trends such as evolving challenges with enhanced due diligence, the rise of automation, the growing incorporation of ESG matters into compliance programs today, and more.

Lefort_opinion

Juneteenth acknowledgement a reminder that influence comes in many forms

2021-06-18T12:00:00+01:00By

The designation of Juneteenth as a federal holiday shows the good that can come from when powerful people acknowledge difficult truths.

Exxon

Activist investor win at ExxonMobil should be wake-up call for companies

2021-06-14T20:22:00+01:00By

The growing scope and influence surrounding environmental activist campaigns promises to spill well beyond 2021. Recent developments should inspire boards to reassess how their company’s environmental initiatives align with long-term shareholder value.

SEC office

SEC rulemaking list 2021: ESG, cyber-risk governance among highlights

2021-06-14T18:55:00+01:00By

The SEC’s spring 2021 rulemaking list is brimming with proposed regulations that would enhance ESG-related disclosures for public companies in areas like climate change, board diversity, human capital management, and cyber-security risk governance.

Employee activism

Embracing employee activism is good for business

2021-06-01T12:03:00+01:00By

The benefits of being perceived as a company that values employee input might outweigh the drawbacks, experts believe.

ESG

ESG materiality, disclosures spur opposing views at SEC

2021-05-26T14:30:00+01:00By

The SEC has taken numerous steps indicating its intention to require public companies to disclose ESG risks, but the question of how such disclosures will work in practice is still very much unanswered.

VW Drive Bigger

Chapter 5: Volkswagen’s path to winning back trust

2021-05-20T13:00:00+01:00By

Its monitorship now complete, Volkswagen’s new focus is to rebuild its reputation among its customer base. It’s a long process, says Board Member Hiltrud Werner, one supported by a shift in strategy.

VW group board

Chapter 4: Tangible measures of cultural progress at Volkswagen

2021-05-20T13:00:00+01:00By

At the end of the day, how does an organization measure the effectiveness of company-wide cultural initiatives? Volkswagen has answers, utilizing perception workshops, mood barometers, and new diversity and inclusion initiatives as part of its culture rebuild post-Dieselgate.

ESG_corrected

Compliance ‘well-situated’ to handle increasing ESG scrutiny

2021-05-19T15:30:00+01:00By

An expert panel at CW’s 2021 National Conference agreed that compliance is uniquely positioned to help companies in their ESG initiatives. The CCO and chief sustainability officer at FedEx share how this may look in practice.

Volkswagen T4I key initiatives

Chapter 3: VW operationalizes its Dieselgate monitorship

2021-05-19T13:00:00+01:00By

A revamped code of conduct and the Together4Integrity campaign stood out as significant milestones for Hiltrud Werner & Co. as Volkswagen began to embrace its Dieselgate monitorship as a way to improve company culture.

German parliament

German supply chain draft legislation expected to have far-reaching effect

2021-05-18T17:26:00+01:00By

Companies of a certain size with ties to Germany must soon establish robust due diligence procedures to prevent human rights and environmental abuses both within the course of their own business activities and within their global supply chains.

Hiltrud Werner index

Chapter 2: Volkswagen monitorship falls in line under Hiltrud Werner

2021-05-18T13:00:00+01:00By

While Larry Thompson assembled his team for the Dieselgate monitorship, Volkswagen countered with appointments of its own, including Hiltrud Werner as head of integrity and legal affairs. Their relationship would determine the success of the monitorship going forward.

Diesel emissions

Chapter 1: Volkswagen’s Dieselgate scandal exposed; enter Larry Thompson

2021-05-17T13:00:00+01:00By

The Volkswagen Dieselgate scandal wasn’t the work of one executive who thought to install illicit software into diesel motor vehicles. It was born from a “chain of errors that was never broken,” forming the basis for one of the largest and most high-profile corporate compliance monitorships in history.

Dirty window

CW presents: ‘Coming Clean: Volkswagen’s Dieselgate scandal and compliance monitorship’

2021-05-17T13:00:00+01:00By

Volkswagen’s recently concluded three-year monitorship is chronicled in CW’s latest in-depth case study, which spares no detail in following the world’s largest automaker’s comeback from its biggest mistake.

Reporting DEI CW2021

Cooperation key to compliance’s role in advancing diversity & inclusion

2021-05-13T19:24:00+01:00By

A panel of DE&I experts shared valuable tips on how chief ethics and compliance officers can work collaboratively with human resources to address workplace culture issues at CW’s 2021 National Conference.

Comey CW2021 blog

James Comey: Lessons from Enron era will ‘become real again’

2021-05-11T20:17:00+01:00By

Former FBI Director James Comey kicked off Compliance Week’s 16th annual National Conference on Tuesday by speaking candidly about a variety of risk and compliance matters, including the importance of a strong ethical culture in the coming post-pandemic “boom times.”

Tenneco, Program

Tenneco’s dedication to core values lands it Compliance Program of the Year

2021-05-11T16:00:00+01:00By

Tenneco’s revamp of its core values, coupled with its dedication to employee engagement during the coronavirus pandemic, earned it the honor of Compliance Program of the Year at CW’s 2021 Excellence in Compliance Awards.