News & Views

The uptake of renewable energy and associated components has given rise to the NSW Anti-Slavery Commission and the Clean Energy Council (CEC) developing a code of practice to help identify modern slavery risks in these supply chains. Without clarity on how to effectively manage modern slavery risks in renewable energy value-chains, both people and investments in renewable energy infrastructure may be at risk. 

The draft currently under development will be published in December 2023 and will be open for public comment until February 2024. 

See an article from FS Sustainability bout this HERE.

In a recent global survey which polled more than 900 ESG professionals, 90% believe that having a strong ESG reporting programme will give their organisations a competitive advantage in the next two years. Given that ESG is receiving heightened attention in boardrooms, it's no surprise that businesses are now adding dedicated roles to help with ESG reporting, data collection and management of metrics.

See a report about this from edie HERE - and keep up your AusLSA reporting!.

The Australian Human Rights Commission (AHRC) have announced the release of an educational resource kit for the 2023 referendum.

The educational resources seek to minimise harm, promote cultural humility, and focus the conversation on human rights principles as they relate to the proposed Voice to Parliament.The resources include information on the history of First Nations advocacy, the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP), self-determination, harm minimisation, substantive reform, and more and is available from their website HERE.

Hewlett-Packard Enterprise (HPE) have said that over the past two years, more IT customers have begun requesting information about how certain technology investments can help with corporate net-zero targets as well as how they might be used to measure ESG-related metrics and manage them. This led HPE to commence sustainability training to their front-line sales force - and the financial impact of that has led to an increase in over $1.3B in contracts.

Read the Greenbiz article about this HERE and see how HPE help in understanding and reducing scope-3 emissions.

Embedding exercise into your firm's physical wellbeing program, not only boosts personal energy levels, it helps us work more efficiently. 

Dr Brett Lillie, author of Rediscover Your Athlete Within says that movement ignites creativity and increases brain plasticity and capacity. He provides five tips for employers to encourage exercise in the workplace in an article from HR Leader HERE.

The Science Based Targets Institute (SBTi) has released their 2022 monitoring report indicating that more than one third of the global economy (34%) by market capitalization had set or committed to set science-based targets, and that growth on every continent had been observed for the first time.

In saying this, they acknowledge the global issues related to climate change this year and support the UN's observation that we have entered a new era of "global boiling". Despite this, the growth with science-based targets is evidence that the private sector is becoming more and more aware of its responsibility to rapidly cut emissions in line with the demands of climate science. See the report HERE.

The ASX200 notes that net zero pledges from their members are increasing - 61% of the ASX200 (121 entities) have publicly committed to net zero - up from 48% the year before.

Many companies, however are not reporting Scope 3 emissions, and given that the Australian government plans to make climate disclosure mandatory from 2024-2025, those companies not reporting scope 3 emissions will need to detail how they will transition their operations to get to net zero. See an analysis from FS Sustainability HERE.

Australia is the only first world nation with a colonial history that does not recognise its First Nations people in the constitution, and corporates that support the Voice do so with ESG increasingly at front of mind.

They have to, however, balance criticism of potential social-washing and virtue signalling versus corporate responsibility and social license to operate. All corporates have a responsibility to educate themselves, because "misinformation is rife" and "the consequences are crucial".

See a good analysis of the issue from FS Sustainability HERE.

The UN weather agency has confirmed that the global average temperature for July 2023 was the highest on record and likely for at least 120,000 years. The UN World Meteorological Organisation reiterated that there was a 66 per cent chance that the 1.5C threshold above the pre-industrial value will be exceeded in the next five years and will have “dire consequences for both people and the planet creating exposure to ever more frequent and intense extreme events”. See the UN Report HERE.

Despite women outnumbering men in the legal profession, the gender pay gap is still apparent.

The Workplace Gender Equality Agency (WGEA), also note that on average, women in Australia are paid less than men, and have to work an additional 56 days to earn the same average pay, which costs the economy $51.8bn every year.

'Equal Pay Day' this year has been calculated by WGEA to be August 25. Find out more about this and how your firm can support Equal Pay Day HERE.