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The new year started with everyone focused on the causes and consequences of the biggest political and economical shocks happened during 2016. All bets include big businesses as key players, for better or for worse. In the Purpose of the Corporation project, we continue working to support a shift in the corporate governance framework that would enable systemic change in business thinking.
 
"Just as any Revolution eats its children,
unchecked market fundamentalism
can devour the social capital essential
for the long term dynamism of capital itself"
 
Mark Carney, Governor of the Bank of England
Non-Financial Reporting:
How to Comply? What does it mean for the climate? 

Corporate reporting creates powerful incentives for corporate boards to establish their targets and to decide how to achieve them. 

These new EU requirements have the potential to provide essential information to forward-looking investors.


The objective is to lay the foundation for a new model of corporate reporting that complements financial transparency with other information necessary for understanding of a company’s development, performance and position, as well as impact of its activity on society.

Read our article here:
https://www.responsible-investor.com/home/article/non_financial_reporting_fb/P0/
Revisioning the Corporation: 
A Short Guide to Sustainable Corporate Governance


The guide provides civil society organisations and responsible businesses with an introduction to corporate governance and its implications in terms of corporate impact.

Today, we face complex challenges that cannot be addressed by governments or civil society alone because they are intrinsically connected with the economy.

The publication gives an overview of potential corporate governance models and possible avenues for future policy reform.


Download the guide here:
http://www.purposeofcorporation.org/pocket-guide-to-corporate-governance.pdf

RECENT DEVELOPMENTS IN CORPORATE GOVERNANCE:

  • Europe: The Commission has launched a public consultation to seek feedback on the state of the capital markets union (CMU) programme and identify additional measures to improve the financing of the economy. The Commission has identified the priorities of reviewing corporate governance (consultation document, p. 19) and promoting sustainable finance (p. 12). The deadline is March 17, followed by a public hearing on April 11. https://ec.europa.eu/info/finance-consultations-2017-cmu-mid-term-review_en 
  • United Kingdom: The All-Party Parliamentary Corporate Governance Group commissioned a report to Tomorrow's Company in order to identify which changes are needed in boards to tackle attitudes of short-termism and restore the public’s trust in business.  http://tomorrowscompany.com/publication/appcgg-policy-proposal/
RECOMMENDED EVENTS
  • ACCA’s President debate 2017: “Accounting for Public Goods: the Social and Natural Capital imperatives”. February 8, 2017. Keynote speech will be delivered by European Commissioner Phil Hogan. To register, please write to cecile.bonino@accaglobal.com by February 2. 
IN THE NEWS

Davos: Debunking the myth of shareholder primacy. By Paige Morrow in Board Agenda. http://boardagenda.com/2017/01/16/davos-debunking-myth-shareholder-primacy/

What Trump’s Presidency Could Mean for Business. By Paige Morrow in Triple Pundit. http://www.triplepundit.com/2016/12/trumps-presidency-mean-business/

How to Stop Short-Term Thinking at America’s Companies. By Alana Semuels in The Atlantic. https://www.theatlantic.com/business/archive/2016/12/short-term-thinking/511874/

Corporations need a new reason to be. By Justin Fox in Bloomberg View. 
https://www.bloomberg.com/view/articles/2017-01-04/corporations-need-a-new-reason-to-be


The multinational company is in trouble. Food for thought from The Economist. http://www.economist.com/news/leaders/21715660-global-firms-are-surprisingly-vulnerable-attack-multinational-company-trouble

How American Business Got So Big. By Gillian B. White in The Atlantic.
http://www.theatlantic.com/business/archive/2016/11/trump-antitrust-barry-lynn/507917/

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 Quick note about us: The Purpose of the Corporation project provides a strategic, open-source platform for leading experts and organisations interested in promoting the long-term health and sustainability of publicly listed companies, policy making and business management. It is an initiative led by Frank Bold, a purpose driven law firm using the power of business and non-profit approaches to solve social and environmental problems.
Copyright ©2015 Frank Bold, All rights reserved.

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Frank Bold · rue d'Edimbourg · Brussels 1050 · Belgium

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