Inside job: Rioâs appointment reveals board s tin ear
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December 19, 2020 â 12.00am
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Rio Tintoâs decision to appoint an insider based in London as its new leader epitomises a board with a tin ear.
After everything it has gone through, been accused of and apologised for, the appointment of its chief financial officer Jakob Stausholm as the new chief executive raises the question - what has fundamentally changed?
Jakob Stausholm, Rio Tintoâs new chief executive.
Rioâs statement to the ASX announcing the appointment speaks volumes about the companyâs disconnect with reality. Instead of addressing the elephant in the room, its destruction of the priceless heritage sites at Juukan Gorge due to a culture focused on profit, it played up the new appointee as a numbers man.
Inside job: Rioâs appointment reveals board s tin ear
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December 18, 2020 â 11.00pm
December 18, 2020 â 11.00pm
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Rio Tintoâs decision to appoint an insider based in London as its new leader epitomises a board with a tin ear.
After everything it has gone through, been accused of and apologised for, the appointment of its chief financial officer Jakob Stausholm as the new chief executive raises the question - what has fundamentally changed?
Jakob Stausholm, Rio Tintoâs new chief executive.
Rioâs statement to the ASX announcing the appointment speaks volumes about the companyâs disconnect with reality. Instead of addressing the elephant in the room, its destruction of the priceless heritage sites at Juukan Gorge due to a culture focused on profit, it played up the new appointee as a numbers man.
-The quest for financial materiality gathers pace
-World governments may finally be on the same page
-Corporations can be held legally liable for ESG reporting accuracy
By Sarah Mills
Just weeks after the election of Joe Biden, it has been announced that the Sustainability Accounting Standards Board and the International Integrated Reporting Council (IIRC) will merge into one global organisation called the Value Reporting Foundation (VRF).
The merger is expected to create the most comprehensive corporate global sustainability framework to date and will be completed by mid-2021.
Backed by international legislation, it will cast social disclosure nets around the world to ensure that the massive covid stimulus and ESG dollars being directed towards investments that support environmental and social aims is finding its mark; and to battle greenwashing and “social washing”.
Tone deaf : Miners, investors to clash over sacred site reforms
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The nation s largest miners will face shareholder pressure to halt projects on Aboriginal heritage sites and urgently review their agreements with traditional owners in the fallout from Rio Tinto s Juukan Gorge disaster.
Mining industry leaders including the heads of Fortescue Metals Group and the Minerals Council last week rejected a federal inquiry s recommendation for a Western Australia-wide pause on activities disturbing sacred sites, saying it would be overly disruptive and harm economic growth.
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4.50pm on Dec 14, 2020
Markets wrap: Late fade takes shine of ASX rise
By Lucy Battersby
The ASX200 improved on Monday as the Australian dollar touched 28-month highs and an index rejig sent Afterpay into the ASX20.