News & Views

Today’s workforce is critical for a successful transition to a net-zero economy and professional bodies are in a unique position to support it. A group of UK professional bodies have joined a Charter to get the UK’s professional bodies to align with both the Paris Agreement and the Sustainable Development Goals (SDGs). It binds members to three overarching commitments to align to the 1.5C pathway, unify their voice to lobby for long-lasting change and to empower and develop their members.

The Charter has sixteen signatories and twenty three supporting bodies representing more than 600,000 professionals and a further 450 member organisations. Overall UK membership associations cover more than 13 million working professionals, meaning the Charter can impact nearly half of the UK’s working population across every part of the economy. Almost one-third of Europe's largest companies have pledged to reach net-zero emissions by 2050. READ MORE

Mark Pearce, the CEO of Volunteering Australia, offers insights about the important contributions of board members while challenging the view that directors should be compelled to make financial contributions. His article agrues that the experience and expertise of volunteer board directors are critical to help charities meet their legal obligations and charitable purpose. Board directors bring a myriad of skills that a charity might not otherwise have access to, increasing their capacity and capability to deliver on its vision and mission.

Volunteer board directors are an invaluable asset for charities, but  directors also derive a significant benefit from their participation. Board directors have a unique opportunity to have a direct and demonstrable impact on causes they care deeply about. READ THE ARTICLE 

A new report from the International Bar Association investigates the adverse mental impacts that are still widespread in the legal profession. The report provides greater insight about the nature of overwhelming numbers. Importantly it has also developed ten mental wellbeing principles to guide future efforts by the legal profession to tackle these issues. READ THE REPORT

If you thought many Australians where reassessing their values following COVID then you’re probably right. According to new research, Australian consumers have become more concerned about social and environmental issues and aren’t afraid to use their purchasing power to drive change. The Conscious Consumer Report 2021 was released last week and discovered that 62 per cent of Australians surveyed had revaluated their priorities during the pandemic, and want to buy their products and services from companies doing some good. The report, revealed that just under two-thirds of Australians believe that corporate Australia has the potential to solve societal problems. Read more... Pro Bono Australia Article or the Report 

AusLSA welcomes its newest member, law firm, Gilchrist Connell. 

Fifty three million tons of computers, servers and other business electronics are disposed annually. IT Asset Disposition (ITAD) and e-waste programs have always operated on certification-based assumptions. While most of the industry is likely doing the right thing, there are bad actors out there — and they have certifications, too. The best, most responsible companies not only look for the top certifications at their recyclers, but also have competitive RFPs and do extensive due diligence on potential ITAD vendors READ THE ARTICLE

The Science Based Target Initiative (SBTi) launched a new Net-Zero Standard last week. This first-ever science-based framework provides companies with a guide for calculating and setting a net-zero target that is verifiable, transparent, and consistent with the latest environmental science and the goals set forth by the Paris Agreement. The standard requires deep decarbonisation of 90-95% of emissions by 2050, and sets out near- and long-term targets for the entire value chain. The remaining 5 to 10% of value chain emissions should be removed from the atmosphere and sequestered in permanent carbon sinks in order to achieve net-zero. In addition, companies are encouraged to invest in carbon offset projects that reduce emissions outside their value chain. While other standards may arise in coming years… the alignment with the Science Based Targets Initiative provides and important benchmark a benchmark. READ MORE

The KPMG 2021 CEO Outlook finds that 94% of Australian CEOs and 86% of their global counterparts believed that following through with corporate purpose commitments will shape their capital allocation, while 98% of Australian leaders said that purpose drove financial performance.

Corporate purpose was also a key part of Australian businesses' appeal to their workforces, with 86% of Australian CEO saying that purpose was a key part of their 'employee value proposition' and central to building brand reputation and customer relationships. Climate change is also dominating Australian CEOS concerns, with 84% of Australian CEOs saying the November COP26 meeting "must inject necessary urgency into the climate debate, and 77% of leaders both here and overseas believing government stimulus was needed to turbo-charge business climate change investments." Read the FS Sustainability  Article HERE 

Bill Papastergiadis, Melbourne Managing Partner at Moray & Agnew has been appointed as a Commissioner of the Victorian Multicultural Commission (VMC). VMC is an independent body that acts as conduit between Victoria’s multicultural communities and State Government. Commenting on this most recent appointment, Bill says “I strongly believe the richness of Victoria’s diverse multicultural communities is one of our greatest strengths as a State. I am honoured to play a part in advocating on behalf of all multicultural communities, and committed to continuing the good work of the Victorian Multicultural Commission in its valuable mission to help to strengthen the relationships of these communities with government and with each other.” READ MORE 

The Monash Centre for Financial Studies (MCFS) looked at the modern slavery statements submitted by 99 ASX100. Woolworths, Wesfarmers and Westpac are just a few of the organisations leading the charge. Lead researcher Dr Nga Pham and her team found that the companies that scored highly had made managing modern slavery risks a priority but also had a large number of employees and big supply spends. The research showed that for the 99 companies the research team looked into, the most common modern slavery risks were forced labour, child labour and debt bondage (forcing someone to work to pay off money owed). READ MORE