• The Wall Street Journal reports that Disney, Salesforce and Others Draw Activist ‘Swarm’ After Shares Decline: “Instances in which companies attract more than one activist expected to grow.”
• The Economist reports that Elliott and fellow activist investors take on big tech: “Languishing Silicon Valley stocks attract Wall Street’s mischief-makers”.
• The Financial Times reports that Dai Nippon Printing shares soar after response to activist Elliott’s demands: “Biggest-ever rise in stock after 146-year-old conglomerate announces record buyback plan”.
• Barrons reports that Activist Investors Aren’t Good At Fixing Companies. Or Investing. “I’m thinking of launching an activist hedge fund that buys big stakes in underperforming companies and demands their board seats. Not the positions—the actual seats. “Everyone stands until the share price doubles,” I’d tell directors in a vigorously leaked letter. “Sincerely, Bottom Up Investment.” I’d charge the standard 2% a year plus 20% of profits, and promise never to offer advice.  The statistical evidence suggests that Bottom Up could perform as well as the greats, who, it turns out, aren’t that good. Activists in general don’t seem to add much value to the companies they target beyond an initial pop in the stock price. They also tend to earn uninspiring returns for their own investors, after taking hefty fees.”
• The Financial Times reports that Bayer embraces activist Ubben with place on its sustainability council: “But high-profile shareholder may not be satisfied with informal position”.
• The Wall Street Journal reports that Third Point to Launch Proxy Fight at Bath & Body Works: “Activist investor has stake of more than 6% in company”.
• The Financial Times reports that Activist investor ValueAct takes stake in Spotify: “Investment revealed weeks after music streaming group announced job cuts and widening losses.”
• The Financial Times reports on How Elliott became the McDonald’s of activism: “Hedge fund group has shown its reach and capacity with campaigns in Germany, Japan and US”.
• The Financial Times reports that Hedge fund boss Chris Hohn demands Airbus drop deal with Atos cyber spin-off: “TCI says buying minority share in Evidian looks like ‘politically motivated bailout’”.
• The Wall Street Journal reports that Shell Directors Are Sued Over Action on Climate: “Oil giant says it has a robust energy-transition plan in place”.
• The New York Times reports that Activist Disney Investor Ends Battle for Board Seat: “Nelson Peltz withdrew a day after Bob Iger, the chief executive, announced a restructuring that will cut $5.5 billion in costs and roughly 7,000 jobs.”
• The Financial Times reports that Salesforce appoints new directors in response to activist criticism: “Co-founder Marc Benioff refreshes software giant’s board after coming under fire from investors”.
• Bloomberg reports Activists Return to Big Attacks With $400 Billion Chase List: “Agitators such as Nelson Peltz and Elliott Management are going after noteworthy names now that stock prices are down.”
• Fortune reports Shareholder activism is on the rise—but more actions are failing due to their ‘lower quality’: “Shareholder activism is on the rise, according to a new analysis released this morning by The Conference Board (and shared in advance with CEO Daily.) The volume of shareholder proposals is expected to increase in 2023, in part because new rules from the SEC narrow the grounds for excluding such proposals, and also because more players are getting into the game.”
• IR Magazine reports Investors face new challenges as social media and blogs begin emerging, warns Nasdaq: “The latest Nasdaq Shareholder Activism: 2022 Year-in-review looks at the most pressing data and trends regarding activist investor movement. The report finds that social media and blog posts are becoming a frequent and effective tool for lower-tier activism, with 10 percent of US campaigns in 2022 reported on the financial website Seeking Alpha.”
• The Financial Times reports on Barclays, Venkat and the ghost of Edward Bramson: “Bank seeks to turn around investor concerns that have driven down its valuation”.

• Responsible Investor reports ISSB board approves first sustainability standards, including reference to GRI and ESRS: “The standards will be subject to routine checks before the approval becomes formal but are expected to come into effect nest January for use in annual reports for 2024 and beyond.”
• The Financial Times reports that Vanguard chief defends decision to pull asset manager out of climate alliance: “Champion of low-cost trackers warns against expecting superior returns from ESG funds and alternative strategies”.
• The Wall Street Journal reports Inside BP’s Decision to Dial Back Its Green Transition: “Oil company’s pullback on fossil-fuel cuts reflects uncertainty ricocheting through governments and board rooms about the speed of energy changes”.
• The Guardian reports that the World’s biggest investment fund warns directors to tackle climate crisis or face sack: “Norway’s sovereign wealth fund threatens to vote against boards on firms it holds investments with over lax climate and social targets.”
• ESG Today reports that Aviva Investors Asks Portfolio Companies for Climate Transition Plans, Nature-Related Reporting: “Aviva Investors outlined a series of sustainability-focused expectations for its portfolio companies, including publication of decarbonization-aligned climate transition plans and preparation to disclose on nature-related risks and opportunities.  The expectations were unveiled in Aviva Investors CEO Mark Versey’s annual letter to company Chairs, setting out the £232 billion AUM asset manager’s stewardship priorities for the upcoming year. Versey opens the letter recognizing the political, social and economic turmoil facing businesses resulting from the war in Ukraine and lingering pandemic effects, but underlines the importance of not letting “tactical responses” to these factors undermine the delivery of long-term sustainability objectives.”
• CNBC reports SEC weighs making ‘adjustments’ to controversial climate risk disclosure rule, Chairman Gensler says: “’We got nearly 15,000 public comments on that proposal,’ Chairman Gary Gensler said in an interview Friday on CNBC’s ‘Squawk Box.’ He said it was customary for the agency to ‘review all that, think through the economics, think through the legal authorities that commenters have raised. It’s quite customary to make adjustments.’”
• The Financial Times reports that Sustainability bond market stumbles as investors get picky: “Issuance of debt that aims to hold companies to climate pledges has fallen amid ‘greenwashing’ concerns”.
• IPE asks Will the US pushback against ESG slow global progress? “Hostility towards asset managers embracing climate action and stewardship is raising questions on both sides of the Atlantic.
• Why It’s So Hard to Be an ESG Investor. A lot of people want to put their money where their values are. But it isn’t so simple.”
• SCMP reports that Climate and sustainability: how impending EU laws on ESG disclosures will be a matter of survival for Asian suppliers: “Asian consumer goods suppliers to global brands should start strengthening their environment, social and governance (ESG) assessment and disclosure capabilities to stay competitive, according to an industry body. Impending regulations in the European Union, which is at the forefront on ESG legislation, will soon require tens of thousands of suppliers across the supply chain in Asia to report their ESG performance, said Amfori president Linda Kromjong. Brussels-based Amfori provides digital tools and training for suppliers to do self-assessments on ESG performance and compare themselves with industry benchmarks, based on international standards. “If you don’t start preparing now, you will be late if and when the legislation kicks in,” she told the Post.”

• The Economist reports that Demands on corporate boards are more intense than ever: “Cobbling together a good board has never been harder”.
• The Financial Times reports that Insider traders use ETFs to front-run M&A deals, academics say: “Research identifies $2.75bn worth of potential ‘shadow trades’ in US between 2009 and 2021.”
• ESG Clarity reports Vanguard gives fund shareholders some proxy-voting power: “’By participating in this voluntary pilot, investors will be able to direct how the fund votes on ballot items for certain of the fund’s largest holdings, proportionate to their ownership in that fund,’ the company stated on its site. ‘Whether held through Vanguard directly or as part of a portfolio held with another firm, eligible investors in these funds will soon receive an invitation to a secure website where they can select a proxy voting policy.’”

• The Financial Times reports that European bosses hit easy targets for ‘green’ bonuses, pay report shows. “Top 50 public companies pay out the majority of rewards for carbon emissions goals”.
• Reuters reports that EU lawmakers back pulling more companies into ESG 'due diligence' net: “A panel of European Union lawmakers on Thursday backed an amendment to extend the reach of ground breaking draft legislation to force companies to check whether their suppliers use slave or child labour, or pollute the environment.”

• The Financial Times reports that UK executive target for women met three years ahead of schedule: “Two out of five board seats at FTSE 350 companies now occupied by females”. The full report is available on the FTSE Women Leaders website.
• The Financial Times reports that Lobby group calls for slimming down of UK’s ‘door-stopper’ annual reports: “Quoted Companies Alliance says disclosure requirements are drain on resources of smaller companies”.
• The Financial Times reports that UK audit regulator risks cementing the Big Four’s oligopoly: “Stricter oversight raises standards but competitors argue it also creates barriers to entry”.
• The Financial Times reports that PwC probed over its auditing of collapsed property group Intu: “Fifth live investigation launched into firm’s audits of UK companies”.
• The Financial Times argues It is time for a boardroom entente at UK plc: “Tension between FTSE boards and their investors seems more symptom than cause of the London market’s woes”.
• FTSE 100 companies’ staff suffer real-terms pay cuts BT, Vodafone and Kingfisher among the few that offered increases above inflation, according to FT analysis
• The Financial Times reports that EY quits as auditor of MJ Hudson following ‘loss of trust’: “Resignation comes two months after trading was halted in investment consultancy’s shares”.
• Are we really making headway in holding corporate villains to account? A proliferation of offences that aren’t prosecuted seems unhelpful for everyone
• Reuters reports that UK accounting watchdog tightens scrutiny of ESG in company audits: “Britain's accounting watchdog said on Monday it will monitor whether auditors were making spot checks on their compliance with environmental, social and governance (ESG) reporting requirements in company audits.”
• Investment Week reports on Terry Smith on activism, ESG and what has changed since 2010: “ Terry Smith, manager of the £22.9bn Fundsmith Equity fund, spoke to Investment Week about his views on activism, ESG and finding good companies.”
• The Telegraph reports that Brands must put 'purpose' over profit, new Unilever boss tells Davos: “The new boss of Unilever has claimed that the mass-produced consumer good market of the last 100 years is undergoing ‘seismic changes’ amid soaring demand for brands to put ‘purpose’ over profit.”
• The Guardian reports that ‘All we have had is losses’: Royal Mail dismisses ‘absurd’ $80m ransom demand: “But on 28 January, Royal Mail’s board delivered a withering response to the demands. ‘Under no circumstances will we pay you the absurd amount of money you have demanded,’ the company said. ‘We have repeatedly tried to explain to you we are not the large entity you have assumed we are, but rather a smaller subsidiary without the resources you think we have. But you continue to refuse to listen to us. This is an amount that could never be taken seriously by our board.’”

• Les Echos reports on AGMs in 2023: executive remuneration reamins the primary concern for investors (“AG 2023 : la rémunération des dirigeants reste le principal sujet de vigilance des investisseurs”): “In the economic environment marked by the return of inflation, shareholders will be closely watching executive pay increases.”
• The Financial Times reports that Renault and Nissan foresee greater ‘freedom’ in alliance reset: “Carmakers no longer bound by need to ‘compromise’, says Renault boss Luca de Meo”.

• Frankfurter Allgemeine reports on Because of free (“Von wegen kostenlos”): “Depending on the house bank, the shareholders have to pay something to obtain an admission ticket for the general meeting”
• Reuters reports that Bayer picks outsider Anderson as CEO after investor pressure. “Bayer (BAYGn.DE) replaced its CEO early, recruiting the former head of Roche's (ROG.S) pharmaceuticals business, as investor criticism over the company’s lacklustre share price grew.”
• Reuters reports on Germany’s biggest value creators and destroyers: “Over 20 years, Siemens has led the way while Deutsche Bank languishes at the bottom”.
• Reuters reports on that Germany's oldest companies face fresh break-up calls: “Activist investors are renewing their years-long efforts to break up some of Germany's most venerable companies, seeing streamlining as a promising route to reviving share prices as Europe's top economy emerges from the energy crisis.”

• The Financial Times reports that UniCredit board member resigned after unsubstantiated leak accusation. “Jayne-Anne Gadhia, head of Italian bank’s remuneration committee, stepped down weeks before pay decision for chief executive”.
• IlSole24Ore reports that Piazza Affari beats the European stock exchanges, growth since the beginning of the year exceeds 15% (“Piazza Affari batte le Borse europee, la crescita da inizio anno supera il 15%”): “FTSE MIB queen on the continental market. Positive expectations for quarterly reports and new IPOs”
• IlSole24Ore reports that at At Piazza Affari, the race for the renewal of 62 boards begins: 230 places for women (“A Piazza Affari parte la corsa al rinnovo di 62 board: 230 posti per le donne”): “Election in view for the boards of several bigwigs of the Treasury's controlled companies, but also for the large representation of financial companies.”
• IlSole24Ore reports on the Gender Equality Index: 20 Italian companies certified by Bloomberg (“Gender Equality Index: 20 società italiane certificate da Bloomberg”): “Overall, the index comprises 484 companies, representing 11 sectors and 57 industries in a total of 50 countries worldwide.”
• Ansa reports that Italian companies are more sustainable, 59% have an EGS committee  (“Imprese italiane più sostenibili, il 59% ha un comitato Esg”): “The approach towards sustainability issues is growing among Italian companies: 59% have set up an EGS committee, in line with 61% of global companies.”
• IlSole24Ore states: Mps ready for risk: “After plan and increase can only create value” (“Mps pronta per il risiko: «Dopo piano e aumento può solo creare valore»”): “CEO Luigi Lovaglio says he is ready to look "with confidence" at Monte's future. And underlines how Siena is now at a discount compared to its competitors.”

• The Financial Times reports that Spanish court upholds Andrea Orcel’s Santander claim but cuts payout by €8mn: “Bank ordered to pay €43.5mn in compensation for aborted offer but will appeal to Supreme Court Andrea Orcel.”
• The Spanish National Securities Market Commission (CNMV) publishes the ‘Good practices code for investors’: “The CNMV has approved the Code of Good Practices for Investors; addressed to institutional investors and asset managers based in Spain, foreign entities, as well as other non-institutional investors with shares in listed companies. Georgeson has been part of the Consultative Group involved in the drafting of the document. The aim of the Code is to promote greater involvement of shareholders in the life of the companies in which they invest. As institutional investors and asset managers are major shareholders or important players in a large number of companies, their involvement is essential to achieve an efficient business management and governance model. Once the Code has been approved, investors who wish to do so may adhere by writing to the CNMV. The CNMV will publish a list of these entities and a link to the web page of each one of them, in which the involvement and voting policies must be published, in a visible and clear manner, as well as the rest of the information necessary for comply with the Code. With this initiative, the Spanish market is on a par with other international markets that have been applying these codes to encourage investor participation in the decisions of the entities in which they invest.”
• El Confidencial reports that Repsol will re-elect its Chairman in 2023 AGM (“Brufau será reelegido presidente de Repsol en pleno 'boom' de la petrolera”): “Mr Brufau, who announced in 2019 that he would retire this year, has decided to step back and continue as leader of the energy group, which is experiencing its best moment in years.”
• elEconomista reports IBEX 35's equality policies (“Así son las políticas de igualdad del IBEX 35”): “The struggle for gender equality is not alien to any sector of the labour market. Leadership positions resist women, who in Spain only occupy 29% of positions of corporate responsibility. Only 1.2% of CEOs in Spain are women and they earn 19% less than men.”
• Expansion reports Which sectors place most importance on reputation (“Qué sectores dan más importancia a la reputación”): “87% of Spanish directors agree that reputation is a key variable in the definition of strategy, in the short, medium and long term, according to the study Reputation on Boards of Directors, carried out by KPMG in collaboration with Corporate Excellence. The study involved directors sitting on one or more management bodies of listed and unlisted companies from nine sectors, who responded to 32 questions on reputation and reputational risk. The aim was to identify the keys to success and the opportunities for corporate reputation to remain a factor of differentiation and competitiveness.”

• Eumedion issued a memo titled shareholders must have a real say in how meetings are held (“aandeelhouders moeten reële inspraak hebben op de wijze van vergaderen”): “Shareholders must have a real say in how the shareholders' meeting (AGM) is held. It cannot be the case that the management board and the supervisory board (SB) can independently decide whether the AGM takes place in physical, hybrid or fully digital form. This is what Eumedion writes in its response to the preliminary draft for the 'digital AGM' law , which was submitted today”.

• The Financial Times reports that Legal & General sues Glencore in latest corruption fallout: “Fresh claim related to alleged losses to shareholders resulting from statements by the commodities group to the market”.
• Tages-Anzeiger reports that Daniel Vasella did not want to pay an "extremely" high amount of tax (“Daniel Vasella wollte einen «äusserst» hohen Steuerbetrag nicht bezahlen”): “The multi-millionaire claimed he lives in tax-friendly Monaco. He would not have had to pay any taxes on his million-dollar settlement from Novartis in 2013. But his tax tricks failed spectacularly.”
• Economiesuisse published the latest version of the Swiss Code of Best Practice for Corporate Governance: “Since it was introduced in 2002, the “Swiss Code of Best Practice for Corporate Governance” has strongly influenced the development of corporate governance in Switzerland and has proven to be an effective instrument of self-regulation.”

• The Financial Times reports that Talc ruling a blow to J&J and the ‘Texas two-step’ bankruptcy jig. “Ruling by US court will make companies think twice about using Chapter 11 schemes to handle lawsuits”.
• The Wall Street Journal reports that McDonald’s Ruling Shifts Oversight Liability Focus to Corporate Officers: “A derivative lawsuit in Delaware seeks to hold the company’s directors and officers liable for failing to sufficiently intervene in a sexual-harassment scandal. It is the latest in a growing number of such claims.”
• The Wall Street Journal reports that Conservatives Have a New Rallying Cry: Down With ESG: “A Federalist Society veteran is heading up a multimillion-dollar effort to push anti-ESG messaging and legislation”.
• Bloomberg Law reports SEC Tells Fifth Circuit Proxy Firm Rules Strike Right Balance: “A federal judge in Texas was right to back the SEC in easing Trump-era proxy advisory firm regulations, the agency told the US Court of Appeals for the Fifth Circuit on Wednesday.”
• The Wall Street Journal reports People of Color Fill One Out of Five Corporate Board Seats for the First Time: “Racial and ethnic minorities now hold 20% of all board seats at the nation’s largest public companies for the first time, according to a new study.”
• Reuters reports Shareholder votes offer check on unjustified CEO pay at S&P 500 companies, study finds: “Compensation for S&P 500 chief executives has soared in recent years even as investors cast more of their advisory "Say on Pay" votes against management, leading to doubts about the ballots' usefulness”.
• ESG Today reports DeSantis Outlaws ESG in Florida Investments, Procurement: “Fund managers for state and local entities in Florida will be prohibited from considering ESG factors in any investment decisions, and government entities will not be allowed to request ESG information from suppliers in the procurement process, according to new legislation proposed on Monday by Florida Governor Ron DeSantis.”
• The Harvard Law School Forum on Corporate Governance posts an article entitled (Much Too Early) Observations on the Universal Proxy Card: “In this article, we will not journey down the well-trodden path of summarizing the universal proxy rules and making predictions regarding how they could change the relationship between companies and their shareholders, but rather review what has occurred since the rules were announced and took effect, including by providing select observations regarding the first three contests in the universal proxy era.”

• Reuters reports on the Rise in Canadian shareholder activism faces test next month with new rules in place: “A recent rise in Canada's shareholder activism faces a reality check next month when a new law that gives more powers to investors to pick board nominees will be put to the test and could spur more campaigns this year, lawyers say.”

• Financial Times reports that Foreign investors start 2023 with record $21bn push into China stocks. “Global investors have snapped up a record $21bn worth of Chinese equities this year, as robust economic data spurs traders to make larger bets that the reopening rally has further to run. Foreign buying of Shanghai- and Shenzhen-listed shares through Hong Kong’s Stock Connect programme has rocketed to Rmb141bn ($21bn) so far in 2023 — more than double the previous record for the same period in 2021. The Connect scheme, launched in 2014, allows investors with a presence in Hong Kong to access stock markets on the mainland. Alongside a sharp rise in US equities, Chinese stocks have posted substantial gains since the rally began last year. The country’s benchmark CSI 300 index of its biggest companies has risen more than 13 per cent since the end of October. Analysts said the recent surge in foreign demand for China stocks was driven by positive economic data published after the lunar new year holiday, which had helped reassure some investors who had remained skittish about the country’s growth outlook even after it began dropping President Xi Jinping’s economically disruptive zero-Covid policy.”

• The Telegraph report that HSBC aiding China’s Hong Kong human rights abuses, say MPs: “Bank complicit after denying citizens access to their savings, report says”.
• Yahoo Finance reports that Hong Kong Hires Banks For Debut Digital Green Bond Sale: “Hong Kong’s government has hired banks to arrange its debut sale of digital green bonds, expanding the use of a nascent technology that promises faster settlement and payment. The special administrative region is looking to raise HK$800 million ($102 million) via the issuance of so-called tokenized green notes and has tapped Bank of China Ltd., Credit Agricole S.A., Goldman Sachs Group, Inc. and HSBC Holdings Plc. to hold investor calls from Monday, according to people familiar with the matter who requested anonymity discussing private matters. The beneficial interests in the notes will be recorded on a distributed ledger technology-based digital assets platform provided by Goldman Sachs, said the people. Digital bonds remain a relative novelty, with Singapore’s DBS Group Holdings Ltd. and the European Investment Bank among the notable pioneer issuers so far. The blockchain-powered platform for such bonds offers quicker settlement as it bypasses clearing systems, while coupon payments are also made faster.”
• Reuters reports that Hong Kong-listed brokerages fall on report of mainland China client ban: “Shares in Hong Kong-listed brokerages fell on Monday after state media reported that Guotai Junan International had suspended the opening of accounts by mainland Chinese clients, potentially hitting its business. A source at Guotai Junan International's Shanghai-based parent said the move followed unwritten guidance from China's securities regulators aimed at discouraging illegal money outflows. It also came after the China Securities Regulatory Commission (CSRC) banned online brokerages Futu Holding FUTU.O and UP Fintech Holding 1M5y.F from soliciting new business from mainland investors on Dec. 30. Mainland investors are an important source of revenue for Hong Kong-based brokerages, so the ban would have a negative impact on future businesses, said the Guotai Junan source.”

• The Financial Times reports that Adani founder signals governance changes to placate investors: “Appointment of a financial controller to oversee family holding company among changes mooted to advisers”.
• Bloomberg reports that It’s Tough to Short Adani Stocks Listed in India. Here’s Why: “Hindenburg Research’s decision to only go short on Adani Group securities outside India has highlighted the limitations of the practice in the nation and the peculiarities of the business empire itself. India’s authorities have imposed a bevy of restrictions on short selling, including requiring institutional investors to disclose planned trades to the stock exchange before they are executed, and making their retail counterparts close positions each day. They also enforce the globally-favored ban on naked shorts, the practice where investors sell shares they haven’t borrowed first.”
• IiAS reports on What Hindenburg has got wrong: “In their report on the Adani group, Hindenburg took a jab at the governance of Indian companies. We don’t agree with their broad-brush rationale for dissing corporate India. Our view is that over the past few years, corporate governance standards in India have strengthened.”
• The India Times reports that Sebi for more teeth to shareholders to improve corporate governance: “ Sustainalytics has downgraded the ESG scores of several Adani Group companies, following a report by a short-seller raising concerns about corporate governance at the conglomerate last month.”
• Responsible Investor reports that India tables draft regulation on ESG ratings, assurance and disclosure: “It could introduce the world’s first mandatory requirements to audit ESG disclosures.”

• The Investor reports on NPS in Action: ‘Paper tiger’ NPS rebrands self as vocal shareholder, but motives murky: “The new chief investment officer of the National Pension Service, the country's largest investor, vowed in December last year to be a more vocal shareholder to shore up returns and assert more control over how companies are run.  In other words, the CIO aims to more strictly follow the so-called “stewardship code.”  The code is based on the premise that an institutional investor that manages people’s money is in a similar position to a steward who manages a large house or ship.  Just like how good stewards thoroughly take care of different affairs for their employers' benefit, the code sees that good institutional investors should influence the decision-making process of the companies that they are putting their money into to ensure they are well run.”
• The Korea Herald reports that Samsung chief unlikely to seek board membership: “Samsung Electronics Chairman Lee Jae-yong is unlikely to seek board membership at the company, as it was not included in the list of agenda items to be discussed in the upcoming general shareholders meeting on March 15. Samsung held a board of directors meeting on Tuesday to fix the date of this year’s general gathering and three topics to be discussed there, the company said in a press release. The three agendas are approving of the company's financial statement, appointment of Vice Chairman Han Jong-hee as an internal executive, and setting the limit for remuneration of executives. The board membership agenda was previously anticipated to be on the list following Lee's ascension to the top seat in November last year. Speculation grew on his possible board membership that is widely seen as a symbolic step for him to take on more responsibility in management.”

• The Financial Times reports that The sheikh’s empire driving Abu Dhabi’s meteoric stock market rise: “The once marginal bourse has been transformed by a conglomerate whose growth bankers and analysts say is hard to explain”.

• Mining Technology magazine reports on Predictions and protection: can software and data improve ESG in mining?: “Data analytics firms are seeking to make money from environmental governance and digital best practice for ESG in the mining sector.”
• The Australian reports on Aurizon boss Andrew Harding lashes proposed safeguard mechanism changes: “The federal government’s proposed changes to the safeguard mechanism could have the “perverse” effect of pushing more trucks onto roads and driving up carbon emissions in the transport sector”.
• The Sydney Morning Herald reports on Coal stoush heats up as miners told to supply local power plants: “Australia’s largest coal miners, including BHP, are pushing back against a new reservation policy that will force them to set aside hundreds of thousands of tonnes of coal for domestic power plants for 15 months”.