CSR News Stories

Photo of Google headquarters

EU regulators to test whether companies like Amazon and Google cross the line into abusing your privacy

Brussels has given notice that it will be scrutinising some of the large US tech groups to see if their practices are either anti-competitive or too intrusive on people's right to privacy. The draft plan for a 'digital single market', made public by the Financial Times, says that the EU will probe such areas as how search results are affected by paid advertising and whether companies like Netflix, Whatsapp and Skype are providing unfair competition to traditional media and telecoms companies.

Rio Tinto mine

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.

Photo of air pollution sunset

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.

Photo of stock exchange

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.

Shell garage

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.

Warren Buffett

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.

Mahalla protests shown by CNC
CNC

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.

Andrew Forrest

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.

Nicolas Sarkozy

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.

Sir Fred Goodwin

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.

Hugo Chavez

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.

Mervyn King

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."

King Abdullah

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".

Nicolas Sarkozy

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.

CSR project in Gujarat

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.

Photo of stock exchange

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.

Mike Duke, Wal-Mart

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.

Barack Obama

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.

Photo of Martin Sullivan

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.

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