CSR News Stories
Rio Tinto workers get China trial date
China has set a trial date for four Rio Tinto employees charged with bribery and violating commercial secrets, the Australian government has said.
US: Utility PG&E withdraws from Chamber of Commerce over climate change
Pacific Gas and Electric, the California-based utility, has pulled its membership of the US Chamber of Commerce over the chamber's sceptical line on global warming. The chairman Peter A. Darbee said: "We find it dismaying that the chamber neglects the indisputable fact that a decisive majority of experts have said that the data on global warming are compelling and point to a threat that cannot be ignored".
China: Government accuses Rio Tinto of spying for six years
China has said it believes that mining company Rio Tinto has engaged in industrial espionage in the country over the last six years. Four of the company's employees have been held in custody for a number of weeks.
Indonesia: New eco investment index launched
The Indonesian stock exchange has launched a new investment index based on the social and environmental performance of companies.
Netherlands: Shell will compensate shareholders for reserves scandal
The Amsterdam court of appeal has resolved that compensation should be paid out by Royal Dutch Shell to non-US shareholders for the scandal five years ago when the company overstated its oil reserves. The affair saw the removal of Shell's chairman at the time Phil Watts - who was also a leading light with the World Business Council for Sustainable Development.
China: Warren Buffett criticised for investing in 'stealer of trade secrets'
Terry Gou, head of Taiwanese Hon Hai Precision Industry has criticised Warren Buffett's Berkshire Hathaway for investing in BYD Company which, he said, had stolen commercial secrets from its affiliate Foxconn.
Egypt: Case against company that broadcast anti-government protests dropped
The North Cairo Appeals court has overturned the ruling against the Cairo News Company that was accused of illegally owning broadcast equipment when it distributed footage of anti-government demonstrations.
Australia: Fortescue facing conflicting claims on Chinese agreements
Fortescue and its CEO Andrew Forrest are facing claims from a former employee that its public announcements over the status of talks with Chinese project financiers were false. Forrest, who got agreement last year from Prime Minister Kevin Rudd to promote aborigine employment, faces being banned as a director if the case against the company is proved.
France: Government to ban bank bonuses
The French Government has said that it is to issue a decree banning bonuses for bank executives for firms that have received government aid.
UK: Government expresses determination to claw back RBS former CEO pension
The deputy leader of the governing Labour Party, Harriet Harman, has said that the government is determined to snatch away the 693,000 UK pound pension of Sir Fred Goodwin, the former CEO of bailed-out bank RBS. The revelation of the size of the pension pot for Sir Fred, who was forced out of the company as its problems became evident, has been the subject of newspaper campaigns over the last few weeks.
Venezuela: Army ordered to seize rice mills
President Hugo Chavez has ordered the army to take control of Venezuelan rice mills, accusing them of hoarding rice in order to evade the government's price caps and causing food shortages. The move represents the latest attack on the private sector by the regime.
South Africa: King 3 Report focuses on executive remuneration and sustainability
The King 3 report on corporate governance has raised the bar again on expectations on businesses in terms of management practices. According to the CEO of the Institute of Directors, Lindie Engelbrecht, it recognises that "sustainability is the primary moral and economic imperative for the 21st century and is one of the sources of opportunities and risks for businesses."
Saudi Arabia: King Abdullah calls for corporate social responsibility
King Abdullah has urged an ongoing partnership between public and private sectors to boost social responsibility in Saudi Arabia. The message from the King, delivered at the opening of a three day corporate social responsibility conference, said that the time had come to make social responsibility a reality "not just a rhetoric by the (business) elite".
France: Sarkozy calls on banks to suspend bonuses for top bosses
French President Nicolas Sarkozy has said that the banks should not give bonuses for top executives for last year, following the 360bn euros bailout they received from the government and consideration of a second wave of funding.
India: Gujarat drops planned CSR requirement in law
Four months after it had first floated the proposal in its draft industrial policy, the government of Gujarat has withdrawn its planned requirement to force companies to contribute towards local community infrastructure projects in the name of corporate social responsibility.
Taiwan: listed companies must disclose on social responsibility
Taiwan's Financial Supervisory Commission (FSC) has said that firms listed in the country must make greater disclosure on social responsibility to help investors see which are making better progress towards sustainability.
US: Wal-Mart names Mike Duke new CEO
Wal-Mart CEO Lee Scott is to step down early next year, and Mike Duke has been named as his successor. Scott was widely credited with having taken Wal-Mart further and faster down to journey towards greater environmental sustainability in recent years.
US: Nine out of ten business leaders think CSR will thrive under Obama
Nearly nine out of ten business leaders polled by Business for Social Responsibility have said they believe that US President-Elect Barack Obama will have a positive impact on the promotion of the corporate social responsibility agenda.
US: AIG attacked for expensive retreat just days after bail-out
Martin Sullivan, the former CEO of AIG, came under fire as he testified to Congress as the chairman of the committee flashed images of the luxury hotel that had hosted an executive retreat for the company at a cost of nearly $400,000 just days after the firm's saving from collapse.
Brazil: New oil reserves will be invested in eradicating poverty: Lula
President Lula da Silva has said that the profits from the newly discovered offshore oil fields will be used by the State to invest in technology and education, and eradicate poverty.
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Interviews
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