ESG/Social Responsibility


ESG

New COSO guidance tackles sustainability reporting

2023-03-31T18:28:00+01:00By

The Committee of Sponsoring Organizations of the Treadway Commission created a framework for companies seeking to achieve effective internal control over sustainability reporting.

William_Hill_Web

William Hill fined record $23.7M for social responsibility, AML failures

2023-03-29T18:13:00+01:00By

The U.K. Gambling Commission announced three units of British bookmaking service William Hill Group will pay a record fine of £19.2 million (U.S. $23.7 million) for failures regarding social responsibility and anti-money laundering.

SEC building

Vale to pay $55.9M in SEC settlement over dam disclosures

2023-03-29T17:02:00+01:00By

Brazilian mining company Vale agreed to pay $55.9 million to settle Securities and Exchange Commission charges it issued false and misleading statements regarding the safety conditions of its dams.

ESG money

Accounting and reporting challenges of environmental credits

2023-03-15T15:26:00+00:00By

Companies are working on plans to reduce their carbon emissions. The popularity of environmental credits has grown as a way for companies to meet their emission reduction targets.

Texas State Capitol

Anti-ESG fervor catching fire with Republican lawmakers

2023-03-02T17:28:00+00:00By

The blowback against environmental, social, and governance initiatives in investments and corporate strategies is quickly building momentum in conservative politics, with nearly two dozen states proposing bills that limit ESG investments.

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CPE Webcast: Accelerating your sustainability journey through robust supplier engagement

2023-02-28T11:00:00+00:00Provided by

As conversations around climate change and inequality intensify around the globe, businesses face increased scrutiny and pressure from regulators, investors, and customers to ESG goals across the value chain—including third parties.

McDevitt_opinion

Book review: Why revamping procurement benefits business—and compliance

2023-02-16T16:00:00+00:00By

In “Profit from the Source,” four Boston Consulting Group thought leaders argue why procurement should be shaping corporate strategy, not just supporting it. Author Daniel Weise tells Compliance Week why such a transformation would elevate compliance, too.

Priorities

Survey: Cybersecurity, regulatory risks lead TPRM priorities in 2023

2023-02-10T14:00:00+00:00By

Respondents to a survey from Compliance Week and Dun & Bradstreet overwhelmingly indicated cybersecurity to be the most important compliance-related area affecting third-party risk management in the new year, though fraud and other risks should still be on their radar.

SECcrop

SEC exam report highlights Marketing Rule, Reg BI, private fund advisers

2023-02-08T21:13:00+00:00By

The Securities and Exchange Commission’s 2023 examination priorities report laid out areas under the microscope this year, including compliance with the agency’s Marketing Rule and Regulation Best Interest.

SEC

Report: SEC mulls tweaks to ease climate-related disclosure rule obligations

2023-02-03T17:08:00+00:00By

The Securities and Exchange Commission is reportedly considering pulling back on key elements of its proposed climate-related disclosure rule following pushback from investors, companies, and the public.

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CPE Webcast: TPRM - ESG compliance and German Supply Chain Act

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

Increasing compliance requirements, including from the German Supply Chain Act, pending Securities and Exchange Commission guidelines, and European Union directives, require a programmatic approach to managing third-party and supply chain risk.

JBS

JBS accused of greenwashing in SEC whistleblower complaint

2023-01-24T21:31:00+00:00By

Brazilian meat processing company JBS faces accusations of issuing $3.2 billion worth of “misleading and fraudulent” sustainability bonds in a whistleblower complaint filed with the Securities and Exchange Commission.

Audit

Report: Audit committees bracing for increased role in ESG, ERM, cyber

2023-01-24T21:07:00+00:00By

A new report from the Center for Audit Quality and Deloitte found corporate boards are taking a fresh look at their audit committee structures and practices to respond to emerging corporate reporting areas and increased risks.

Forced labor hands

Good faith not good enough in navigating global supply chain laws

2023-01-23T19:24:00+00:00By

Differences in the level of duty of vigilance among supply chain legislation in countries including the United States, United Kingdom, and Germany mean best efforts to root out and stop slave labor and other worker exploitation are not enough, according to experts.

Sustainability measures

Climate and sustainability reporting challenges: Auditors’ perspectives

2023-01-19T17:10:00+00:00By

Partners from several of the top global accounting firms shared perspectives about the state of sustainability reporting and the impact on auditors and their clients at a recent industry event.

Brasseur_opinion

Ten things I’d like to see happen in 2023 (2022 in review)

2023-01-03T14:00:00+00:00By

Expect big developments for the compliance profession in 2022 to continue to take center stage in the year ahead, including CCO certifications, climate-related disclosures, and more.

European Parliament

ESG in 2023: CSRD to put new pressures on EU businesses

2022-12-27T14:00:00+00:00By

Corporate reporting on everything from climate change to workers’ rights is set for a shake-up in the European Union, and companies should use 2023 to prepare for new regulations and stakeholder expectations.

ESG

Joining the dots between ESG and corruption

2022-12-20T14:00:00+00:00By Ingrida Kerusauskaite and Rory Donaldson, for International Compliance Association

A report from Transparency International UK sets out the case for why business integrity and corruption should be considered as core issues in the context of impact environmental, social, and governance investing.

Amii_opinion

Does ESG offer opportunity? Or is it just another area for compliance friction?

2022-12-16T13:00:00+00:00By

Compliance practitioners share their experiences navigating responsibilities related to environmental, social, and governance without stepping on the toes of other colleagues.

Emissions measurement

Data gathering, management buy-in among SEC climate rule pain points

2022-12-15T13:00:00+00:00By

Respondents to our “Inside the Mind of the CCO” survey that have begun complying with the Securities and Exchange Commission’s climate-related disclosure rule share the biggest hurdles they’ve faced.

ESG_corrected

ESG oversight highlighted in annual audit committee transparency report

2022-12-13T19:32:00+00:00By

Public companies continue to increase the overall level of audit committee disclosures in proxy statements, though there is room to improve quality by providing more tailored disclosures and transparency, according to the latest annual report.

Questioning

Challenges for SPACs: Public company, now what?

2022-12-08T16:05:00+00:00By

Special purpose acquisition company transactions have unique risks and require awareness of what it takes to operate as a public business. Internal controls, governance, technology, and more are essential.

SEC building

Loaded SEC agenda to carry into 2023

2022-12-08T13:00:00+00:00By

The Securities and Exchange Commission is expected to see through its controversial policy proposals from 2022, though the newly Republican-led House could slow the agency’s momentum.

ABB building

TPRM Summit: Experts discuss FCPA lessons learned from ABB settlement

2022-12-07T23:45:00+00:00By

A panel on regulatory trends at CW’s virtual TPRM and Oversight Summit discussed lessons for compliance departments seeking to learn how to guard themselves against bad actors within their own firms contained in ABB’s recent $327 million bribery settlement.

Xinjiang

U.S. law to stop Uyghur forced labor remains compliance challenge

2022-12-07T13:00:00+00:00By

It’s been six months since the Uyghur Forced Labor Prevention Act took effect, and businesses are no clearer today on how to comply with it, those familiar with the law said.

Mastercard

Five compliance triumphs from 2022

2022-12-07T13:00:00+00:00By

Positive contributions in the areas of ESG, AI responsibility, and setting standards regarding CCO liability highlight the latest installment of CW’s annual list of laudable ethics and compliance moments.

Goldman Sachs Tower

Goldman Sachs unit fined $4M for ESG investment lapses

2022-11-23T14:02:00+00:00By

Goldman Sachs Asset Management agreed to pay $4 million to settle SEC charges it failed to follow its own policies and procedures regarding a trio of investment products marketed for their environmental, social, and governance considerations.

ESG

Understanding ‘green hushing’ and its risks

2022-11-17T15:00:00+00:00By Dan Byrne, for International Compliance Association

“Green hushing” is when a company adopts a radio-silence approach to environmental goals. Many companies do it. Some don’t realize they’re doing it.

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CPE Webcast: Building a future-proof ESG program

2022-11-16T14:00:00+00:00Provided by

Learn now to maximize efficiency and achieve operational excellence within your ESG program or get your program started with steps you can take today and into the future regardless of your maturity.

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CPE Webcast: The intersection of ESG and GRC

2022-11-15T14:00:00+00:00Provided by

This discussion will bring together voices from internal audit, risk management, and ESG teams to discuss how they are working together.

ESG vector

CW Europe panelists: ESG reporting still in ‘immature’ phase

2022-11-10T15:20:00+00:00By

Companies are continuing to fail in their efforts to improve environmental, social, and governance reporting, while compliance functions are finding it tough to keep up with demands for better assurance in the area, according to experts.

Corporate reporting

FRC’s corporate governance reporting review finds room for improvement

2022-11-07T20:03:00+00:00By

Companies continue to improve their reporting against the U.K.’s Corporate Governance Code, but the lack of detail about the outcomes and impacts of governance policies hampers proper understanding of how risks are being managed.

CW_Europe_Web

Self-help author promotes culture of kindness at CW Europe event

2022-11-03T19:27:00+00:00By

Companies should consider the benefits of “being kind” to promote employee well-being and a better culture of compliance, author David Hamilton shared during a keynote speech at Compliance Week Europe.

ESG

KPMG finds large companies ‘on the precipice of a new era’ of ESG reporting

2022-11-01T13:09:00+00:00By

Sustainability reporting has seen steady growth over the past three decades while overall perspectives about environmental, social, and governance reporting have seen dramatic shifts, according to the latest findings of KPMG’s Global Sustainability Report.

SAI ESG thumbnail

e-Book: Where to start on your ESG journey

2022-10-26T03:27:00+01:00Provided by

Initiating your company’s commitment to reporting its environmental, social, and governance (ESG) metrics can prove a daunting task. But keep in mind: It’s a marathon, not a sprint.

Diversity

Diversity and inclusion’s power in compliance

2022-10-24T11:30:00+01:00By Holly Thomas-Wrightson, International Compliance Association

A panel of experts hosted by the ICA and Broadgate discussed the impact of diversity and inclusion initiatives on their own lives and why developing effective D&I policies and procedures within a firm is vital to attracting and maintaining talent.

SEC

SEC to reopen comment on climate-related disclosure rule, data breach reporting after glitch

2022-10-07T20:48:00+01:00By

The Securities and Exchange Commission will reopen comment periods on 11 rulemaking releases put forward over the past year, including proposals regarding climate-related disclosures and reporting cybersecurity breaches, because of a glitch in its online comment system.

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Fed recruits 6 large banks for climate scenario analysis pilot

2022-09-29T15:38:00+01:00By

Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo will participate in a pilot climate scenario analysis exercise organized by the Federal Reserve that seeks to enhance climate-related financial risk management efforts in the industry.

ESG_Wheel_Web

ESG Summit: Adapting businesses should look beyond what is financially material

2022-09-27T13:25:00+01:00By

Christopher Geiger, vice president of internal audit and enterprise risk at Lockheed Martin, explained how businesses must form resilience as they prepare for future risks regarding environmental, social, and governance during CW’s virtual ESG Summit.

GHG emissions

ESG experts see shades of conflict minerals for SEC climate disclosure rule

2022-09-23T19:37:00+01:00By

The climate-related disclosure rule proposed by the Securities and Exchange Commission will eventually pass but not before undergoing some changes, practitioners speaking at CW’s virtual ESG Summit predicted.

Supply chain

ESG Summit: Holistic approach to supply chain risk an ‘investment differentiator’

2022-09-22T16:51:00+01:00By

Two experts explained how the C-suite as a whole—not just compliance officers—should be focused on the holistic approach to supply chain risk management during a session at CW’s virtual ESG Summit.

Roadmap_ESG2022

Experts: Where to start on your ESG journey

2022-09-21T19:36:00+01:00By

ESG directors from Tenneco and Amneal Pharmaceuticals shared best practices for businesses broaching the initial phases of environmental, social, and governance reporting at CW’s virtual ESG Summit.

Rite Aid

ESG Summit: How Rite Aid is preparing to comply with SEC’s climate disclosure rule

2022-09-19T21:01:00+01:00By

Amanda Patrick, Rite Aid’s director of ESG/corporate sustainability, shared the retail pharmacy chain’s sustainability journey so far and how it is readying to meet the SEC’s potential disclosure mandates during her keynote address at CW’s virtual ESG Summit.

Climate

Ex-CEO of environmental consultant imprisoned 3 years for false reports

2022-09-14T19:19:00+01:00By

DiAne Gordon, the former CEO and co-owner of Environmental Compliance & Testing, was sentenced to three years in prison for fabricating water quality reports that were sent to state environmental agencies.

Work remote

NAVEX survey: Remote work, whistleblower trends to test speak-up cultures

2022-09-13T18:15:00+01:00By

Maintaining a speak-up culture requires increased attention from businesses with many employees still working remote, putting more of an onus on the reporting function, according to the latest NAVEX study.

OCC

OCC names chief climate risk officer to lead new office

2022-09-13T17:25:00+01:00By

The Office of the Comptroller of the Currency has reinforced its commitment to confronting risks posed by climate change with the appointment of Yue (Nina) Chen as chief climate risk officer.

ESGReporting

FRC: 12 best practices for better ESG data collection

2022-09-09T16:06:00+01:00By

The U.K. Financial Reporting Council released guidance on how companies can collect and use environmental, social, and governance data to inform better decision-making.

Greenwashing

EU countries take varied approaches to combating greenwashing

2022-08-31T14:25:00+01:00By

European regulators are taking greater steps to clamp down on companies’ misleading ESG claims, but experience shows different countries have differing priorities about tackling dishonest marketing.

esg training device cluster 2022

On-demand training: Everything you need to know about ESG but were afraid to ask

2022-08-02T18:54:00+01:00

Take this self-directed, interactive course to deepen your understanding of the increasing importance of environmental, social, and corporate governance initiatives and how ESG planning processes can help manage risks and lead to better reporting outcomes.

Human trafficking

How compliance can help prevent human trafficking

2022-08-01T17:49:00+01:00By David Povey, International Compliance Association

There are many organizations that seek to prevent human trafficking, but their work can sometimes seem distant and detached from our roles as compliance professionals. We must consider how to bridge that gap, with a particular focus on supply chains.