Australia: Rows break out over promised Corporate Responsibility Index
Date: 10 Apr 2003
Australia's top businesses have been asked to co-operate with a new rating index on corporate social responsibility, produced by a new company backed by the former Liberal leader John Hewson, RepuTex.
The rating index would be targeted at private investors and would cover aspects of corporate behaviour, including remuneration, diversity and environmental management. Nongovernmental organisations such as Greenpeace will also be involved.
However, several companies have made a high profile protest against the plans. Telstra and Caltex Australia have refused to complete the evaluation forms, and have accused the initiative of seeking to bully them into compliance using the threat of adverse publicity.
Bill Scales of Telstra told the Australian Broadcasting Corporation: "They suggest because we won't become involved with a private commercial firm that wants to rate us, that somehow we're not prepared to be rated for our corporate responsibility and that is simply not right."
Article source: ABC
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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