Posts Tagged ‘climate change’

superannuation climate change

If you’re in a superannuation fund, then, like it or not, you’ve got ethical decisions to make. More than 10 million Australians have a superannuation account. Which means, effectively, more than 10 million of us are mini-shareholders with the capacity to influence future business decisions. With that power, however small, comes responsibility.

via The Conversation, 4 November 2020

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climate change

Investment giant BlackRock sent tremors through corporate board rooms last week when it backed a resolution that would have required Australia’s biggest electricity provider, AGL, to close its coal-fired power plants earlier than planned. In the absence of coherent government policy or a price on carbon, the best hope for effective action may come from enlightened business decisions, and Australia’s collective retirement savings — now nudging $3 trillion — give fund managers huge leverage.

via Inside Story, 13 October 2020

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ethical fade

Ethical fading is a legitimate business risk. It occurs when the ethical aspects disappear from the decision-making process and happens when people focus heavily on some other aspect of a decision, such as profit. CEOs and executive teams may focus on compliance, but other competing priorities within the company might influence the final decision. That can lead to court, and penalties. Fines can convert ethical issues into business problems by attaching a price tag to them.

This piece draws lessons from the case of Carnival Corp. and its subsidiary Princess Cruise Lines, which were initially fined $40 million for dumping waste, and then another $20 million for violating their probation terms, by the US Department of Justice.

Via Markkula Centre for Applied Ethics, Santa Clara University, 24 June 2019

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