ASX focus on social and environmental risk and disclosure welcomed

ASX focus on social and environmental risk and disclosure welcomed

Changes to the ASX Governance Principles and Recommendations announced today have been welcomed by leading sustainability advisory firm Net Balance.

It has applauded the introduction of Recommendation 7.4 which asks companies to disclose whether it has any material exposure to economic, environmental and social sustainability risks and, if it does, how it manages those risks.

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Emerging economies leapfrogging on sustainability

Emerging economies leapfrogging on sustainability

In Australia, sustainability is still perceived by many as an unnecessary bottom line expense tagged to good corporate citizenship and responsibility rather than offering business a strategic competitive advantage. Therefore, it may come as a surprise to Australians (and for that matter most developed countries) that emerging economies are indeed gearing up to leapfrog their developed counterparts on innovation through sustainability.

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Beginning with B

Beginning with B

Recently, Sir Richard Branson launched the ‘B Team’ (bteam.org). Note, not the ‘A Team’. The B Team is a plan with a single purpose: to make business work better. How? By shifting the focus from just financial gains, towards environmental and social gains as well. The B Team will achieve this vision by dividing their agenda into specific ‘grand challenges’ that they act on. Each Challenge, led by a B Team business leader, will empower and enable business people around the world to transform how business is done. The B Team is made up of the ‘A list’ of thought and business leaders including Sir Richard Branson, head of the Virgin Group, Paul Polman, CEO of Unilever and Ariana Huffington, Chair of The Huffington Post.

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Australian first research reveals companies making profit by tackling key social issues

Australian first research reveals companies making profit by tackling key social issues

Australia’s first study into creating shared value (CSV) will be released in draft in Melbourne today at the 2nd Creating Shared Value forum.

The study looks at how Australian companies are integrating CSV, which is aimed at generating profit by addressing social or environmental issues, into their corporate strategy.

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Reporting and Supply Chains – You’ve told us, now tell everyone.

Reporting and Supply Chains – You’ve told us, now tell everyone.

It is no longer breaking news for companies to get a handle on their value chains and increase their expectations of suppliers when it comes to sustainability performance. According to the Carbon Disclosure Project (CDP), as much as 86% of a company’s carbon footprint is with its suppliers. Catastrophes in the textile manufacturing sector and NGO protests associated with palm oil production have increased the attention and scrutiny placed on how companies manage these impacts.

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What are insurance companies saying about climate risk?

What are insurance companies saying about climate risk?

With the bushfires blazing in the Blue Mountains, insurance costs are  becoming a hot issue. One report in the Newcastle Herald estimated the total  cost of damage at $138 million. Insurance is an important risk management  measure for households and businesses. The availability and cost of insurance  are being affected by the recent events like the Queensland floods and Victorian  bushfires, which are linked to climate change.

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Winners of the 2013 Banksia awards

Winners of the 2013 Banksia awards

Net Balance was thrilled to be part of this milestone event as finalists from across Australia gathered in Melbourne last week to learn who would take home the honours in a range of categories ranging from land and biodiversity management through to the indigenous award for caring for country.

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A Conversation with the Future

A Conversation with the Future

The National Sustainability Council was established by the Australian Government in October 2012 to provide independent advice on sustainability issues to the government. The council’s remit includes reporting against the sustainability indicators every two years and highlighting key trends and emerging issues for policy and decision makers and communities in Australia. Chaired by Prof. John Thwaites, the Council’s first report, released in May this year is titled ‘Conversations with the Future’.

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Measuring ROI of sustainable procurement

The drivers for sustainable procurement are changing. While once in the realm of “it is the right thing to do”, sustainable procurement and supply chain management have become essential elements of any risk mitigation strategy. But increasingly, there is a new driver – needing to understand and measure the outcomes of sustainability initiatives and their contribution to the organisation.

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