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Mind the gap

By CK Staff
U.K. government comes up short on pledged corporate governance reforms

Policy proposals released by the U.K. government target executive pay and enhancing worker representation on corporate boards, but have been panned by critics as a shadow of what was first promised.

When launching her bid for the Conservative leadership race last July, Theresa May, now prime minister, pledged to crack down on big business. This included plans to force binding shareholder votes on corporate pay every year, require disclosure of the ratio between the CEO’s pay and the average company worker’s pay and to “have not just consumers represented on company boards, but employees as well.”

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Heroes & zeros: VF and Princess Cruises

By CK Staff
VF Corporation targets deforestation in its supply chain, while Princess Cruises is caught dumping waste.

Hero: VF

American apparel and footwear company VF became the latest corporation to overhaul its sourcing policy targeting deforestation and human rights violations in the supply chain. The North Carolina-based firm, which owns more than 30 brands including Timberland and The North Face, unveiled its inaugural Forest Derived Materials Policy in late February. It instructs suppliers to prioritize the use of recycled materials whenever possible, as well as FSC-certified paper and fibre when using virgin materials. The company has also signed on to the Canopy Style initiative, an effort by environmental NGO Canopy to phase out the use of ancient and endangered forests to produce forest-derived fabrics like rayon in the textile industry by the end of 2017.

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Putting your Best 50 forward

By CK Staff
Evaluating corporate Canada’s sustainability performance

At the Paris climate conference in December 2015, Canadian native and Bank of England Governor Mark Carney announced that the international Financial Stability Board was establishing an industry-led disclosure task force on climate-related financial risks under the chairmanship of former New York City mayor Michael Bloomberg.

The task force went on to introduce a set of voluntary, consistent climate-related financial risk disclosures last December for use by companies in providing information to lenders, insurers, investors and other stakeholders. Multinational corporations were quick to vote their support, including 27 leading companies such as Unilever, HSBC and PwC agreeing to comply with these voluntary standards through a joint statement in April.

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Ditching those coal blues

By CK Staff
Projects in Kentucky, North Rhine-Westphalia turn old coal sites into renewables

Two redevelopment proposals in Europe and North America are portending a possible renewable energy transition for hard-hit coal communities facing dislocation from the decline of the fossil fuel resource.

The Prosper-Haniel hard coal mine in the German state of North Rhine-Westphalia will be converted into a pumped hydro storage site for excess renewable power when it closes next year, announced Governor Hannelore Kraft in March.

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Women on the ballot

By CK Staff
New Brunswick mulls monetary incentives for political parties fielding female candidates

New Brunswick Premier Brian Gallant announced plans in March to introduce a bill in the legislature offering financial incentives for political parties that run female candidates.

The bill would adjust the existing per-vote funding model to be 1.5 times higher in ridings where the party’s nominee is female. By tying funding to the number of votes, supporters hope that political parties will be more likely to run women in competitive seats. Parties have been criticized in the past for insulating themselves from criticism by running large numbers of women in noncompetitive ridings.

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