Archive
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The week in GRC: Biden vetoes effort to block DoL’s ESG rules and experts question bank boards’ risk oversight
This week’s governance, compliance and risk-management stories from around the web Hundreds of investors, companies and other organizations have signed a statement calling for state and federal policymakers to avoid the types of investment constraints being threatened by political pushback against ESG-related finance. The ‘Freedom to invest’ statement, released yesterday, was organized by Ceres and the We Mean Business Coalition and to date has more than 270 signatories. These include As You Sow, Boston Common Asset Management, Boston Trust Walden, CalSTRS, Franklin Templeton, New York City Office of the Comptroller, New York State Common Retirement Fund, Patagonia, Sierra Club Foundation,…
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Charter Communications general counsel to retire
Rick Dykhouse has been with the company for 17 years Rick Dykhouse, executive vice president, general counsel and corporate secretary with Charter Communications, plans to retire after 17 years with the company. Dykhouse will continue as Charter’s general counsel during the search for his successor. After that appointment is made, he will stay on as executive counsel to support the transition, reporting to president and CEO Chris Winfrey. Dykhouse joined Charter in May 2006 as vice president and senior counsel. He led the broadband and cable company’s corporate and securities law team through the period leading up to and following…
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Everest Re veteran general counsel to depart
Sanjoy Mukherjee has been with the company for more than two decades NYSE-listed Everest Re Group has appointed Brent Hoffman as interim general counsel, succeeding Sanjoy Mukherjee, who the company says is leaving to pursue other opportunities, effective April 21. After leaving the company, Mukherjee will be available as an adviser to Everest to assist in the transition into July 2023. Everest says it will conduct a search for Mukherjee’s permanent replacement. Mukherjee could not be reached immediately for comment. According to his LinkedIn profile, Hoffman joined Everest last July as head of claims and COO for the company’s reinsurance…
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Eli Lilly faces shareholder proposals on lobbying
Proponents address the topic from different angles Eli Lilly and Company shareholders appear set to vote on separate shareholder proposals addressing its lobbying activities and political spending. The company has unsuccessfully sought regulatory go-ahead to omit them from its proxy statement. One proposal, filed by the Service Employees International Union (SEIU), requests that Eli Lilly prepare an annual report disclosing: Its policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications Payments by the company used for direct or indirect lobbying or grassroots lobbying communications, including the amount and the recipient Its membership in and payments to…
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The week in GRC: Fink says BlackRock not the ‘environmental police’ and SEC reopens cyber-security rules comment period
This week’s governance, compliance and risk-management stories from around the web – Reuters (paywall) reported that US authorities took emergency measures to protect confidence in the banking system after the failure of Silicon Valley Bank (SVB) created fears of a wider financial crisis. Regulators said the bank’s customers would have access to all their deposits and set up a new facility to give banks access to emergency funds. The Federal Reserve also made it easier for banks to borrow from it in emergencies. Although the measures provided some relief for Silicon Valley firms and global markets on Monday, worries about…
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Green-hushing: Will companies say less as ESG scrutiny increases?
Panelists discuss green-hushing at ESG Integration Forum in London A common question for companies as they seek to tell their sustainability story is how much they should disclose. For those at the beginning of tackling issues like climate risk or board diversity, it might seem risky to begin talking about those topics. Data that right now doesn’t look great could become a stick to beat the company with. Generally, the advice for companies has been that it’s better to get going and start disclosing. An absence of information is usually taken as a bad sign and stakeholders will understand that…
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Governance reminders for a period of uncertainty
Amid concerns about a financial crisis, Jennifer Carlson, Lawrence Cunningham and Anna Pinedo offer timely advice on board oversight during times of stress Companies will be affected in a variety of ways by the receivership of Signature Bank, Silicon Valley Bank and any financial institution faced with a similar crisis. Companies may face both liquidity and solvency challenges, and the resulting constraints may lead to difficult decisions, including prioritizing the uses of limited cash. Board oversight of resulting decision-making will be implicated in many cases. Senior executives are advised to maintain a regular dialogue with boards, particularly independent chairs or…
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Companies quizzed on environment and employment rights, survey finds
Smaller companies less likely to field questions on environmental approach Investors are focusing on the environment and employment rights in their engagement with companies over socio-political issues, according to Corporate Secretary sister publication IR Magazine’s Corporate Social Activism report. The research, which polled 768 investor relations professionals, finds that just over half of respondents (52 percent) say they have received questions from investors on environmental attitudes in the last five years. Photo: Matthew Smith Looking at the results by region, 60 percent of Europe-based IROs say they have been quizzed on their company’s approach to the environment, compared with 53…
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Creating a company’s first sustainability report
Shahnawaz Malik and Jane Storero explain key considerations for pre-IPO companies and others in reporting on their sustainability strategy As sustainability initiatives become more of an imperative, companies preparing to go public are scrambling to devise a sustainability strategy and capture its essence in a report. Institutional investors and other stakeholders, as well as regulators, have expressed a keen interest in sustainability issues confronting public companies and related metrics. As a result, companies’ efforts to create a more sustainable business in light of climate change and other pressing issues facing the world economy are paramount. Among the things companies have…
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Eight takeaways from the ESG Integration Forum
Green-hushing, materiality and executive pay among the highlights from discussions at event in London Earlier this month, governance, sustainability and IR professionals engaged in lively debates at the ESG Integration Forum, hosted by Corporate Secretary and IR Magazine in London. Panel discussions covered areas including the convergence (or otherwise) of reporting standards, the growth of ‘green-hushing’ and why biodiversity deserves some of the attention being showered on climate issues. Below, we’ve gathered together eight takeaways and talking points from the conversations. For more information about the ESG Integration Forum, please follow this link. IR Magazine’s Steven Wade (left) talks to…