There is no possible justification for loosening safety rules just at the very moment they are most needed. As “essential workers” labor under dangerous conditions through the coronavirus pandemic, they might be curious to learn that the terms of their employment are in technical violation of federal law. For half a century now, it’s been…
Reporting of UK companies’ gender pay gaps tumbles in pandemic | Financial Times
We see absolutely no connection between the reporting requirement and the pressures of the pandemic. We do see a connection between dropping the reporting requirement and reductions in worker parity. The number of UK organisations reporting on their gender pay gap has halved during the past year, adding to concerns that the coronavirus pandemic could…
Tesla’s Elon Musk gets performance-based payday worth nearly $800 million – MarketWatch
Tesla Inc. Chief Executive Elon Musk has earned the first portion of a windfall payout tied to stock options, Tesla said in a filing late Thursday. As part of a performance-award agreement in Musk’s 2018 compensation package, the CEO stood to receive options to purchase shares if Tesla TSLA, 0.79% reached certain benchmarks, an important…
Investor Mining and Tailings Safety Initiative | The Church of England
The Church of England Pensions Board and the Council on Ethics of the Swedish National Pension Funds convened a global tailings summit to review the progress of the industry 9 months after the disaster at Brumadinho. This summit included: Release of Phase 1 of a new project: the New Global Independent Tailings Database, including initial…
Stilpon Nestor on a Post-COVID19 Economy
Stilpon Nestor, always the voice of reason, has a vitally important assessment of the impact of the pandemic on the economy and what it means for boards as they manage risk. Sooner or later corporate boards and leaders will emerge from their domestic trenches to rebuild their company’s—and the world’s—economic future. And the future will…
Investors ignoring climate change risks, IMF warns
Sharemarket investors are failing to properly price in the risk of climate change inflicting damage on companies and economies, a new analysis by the International Monetary Fund has warned. The Washington-based fund’s Global Financial Stability Report examines the impact of climate change physical risk on financial stability, including the loss of life and property as…
Business faces stern test on ESG amid calls to ‘build back better’ | Financial Times
Three months ago, Brian Chesky, chief executive of Airbnb, made a bold pledge: if he conducted an IPO, he would turn his business into a “stakeholder” company, serving employees and society as much as future shareholders. It initially seemed just a trendy promise. After all, many US companies have made similar pledges since the Business…
Climate Change Lobbying Proposal Gets Majority Support at Chevron – Los Angeles Times
Here’s a shareholder resolution Chevron will find hard to ignore. At the big oil company’s annual meeting, held Wednesday in a virtual format, a majority of shares were voted in favor of a proposal that the company issue an annual report disclosing its lobbying expenditures on climate change and explaining how they align with the goals…
Sketchers Settles Lawsuit By Cancelling Stock Awards
A Delaware shareholder derivative suit against Sketchers is being settled as the company agrees to cancel $20 million in equity awards issued to founder Robert Greenberg and two top officers in 2019 and 2020. The lawsuit alleged breaches of fiduciary duty, unjust enrichment, and corporate waste for these and other awards as well. The shareholders…
Hertz paid top executives $16 million in bonuses ahead of its bankruptcy filing – CNN
Hertz paid out millions of dollars in bonuses to its executives just before its bankruptcy — and a month after it started laying off thousands of employees.Retention bonuses are typical for bankrupt companies that want to prevent their management from abandoning ship. But they’re always awkward: the company can’t pay its employees or its debts to lenders, but it…
