Governance

Governance Watch - Issue 73

Governance Watch - Issue 73

Lessons from 2020

The potential implications of a no-deal Brexit haunt UK business as the end of a year dominated by Covid-19 looms. At time of writing there is still no clarity on the detail. If there are lessons to be learnt, they are surely around the folly of backing oneself into a corner even as the surrounding world faces new and urgent challenges requiring innovation, fresh thinking and collaboration. Regardless of the UK’s future relationship with the European Union, businesses need to look to themselves to see if their corporate governance is fit for purpose.

Governance Watch - Issue 72

Governance Watch - Issue 72

Ethics in a pandemic

As we start looking to the end of 2020 and dare to imagine the possibility of life without Covid-19 thanks to the best efforts of global science on a vaccine, one thing is clear: the role of ethics in corporate governance and in forging resilient, sustainable businesses could not have been made more clearly.

Across industry sectors, businesses continue to struggle for economic survival, as do their employees. The importance of paying attention to ethics, to understanding and engaging with employees and their values particularly when physically distant with remote working has spawned an army of consultants willing to offer advice. If corporate governance is the essence of a business, then ethics must be the glue that holds it together and makes it productive. Ethical issues, and issues which are fundamentally about ethical choice whether or not they are branded as such need to keep rising on the agenda of corporate concern.

Governance Watch - Issue 71

Governance Watch - Issue 71

Governance and Opportunity

As the virus runs rampant around us, resilience is becoming a corporate buzzword. The extreme pain of many sectors- such as hospitality, travel and our creative industries reliant on physical human interaction – is only too clear. But the extremity of the pandemic, and its global reach also offers a critical window of opportunity for businesses and boardrooms to re-think their operations and in doing so, raise the bar on better corporate governance.

Whether you think we are seeing an environmental wave or a continuation of the steady march of publicity for environmental, social and governance (ESG) concerns in the wake of the pandemic, institutional investors are increasingly in this spotlight, calling for concrete action to combat climate change. Among other things, they are clearly well aware that over half the world's working population is now made up of millennials.

Governance Watch - Issue 68

Governance Watch - Issue 68

Business, Ethics and Trust

The scale of the UK government's economic response to the coronavirus pandemic was termed "unprecedented" by the National Audit Office several months ago, in May. It is one of the highest economic support responses in the world in terms of percentage of GDP, with much of the spending going towards supporting businesses.

Governance Watch - Issue 67

Governance Watch - Issue 67

Pay and Accountability

We might have “turned the tide” in the fight against coronavirus, as UK Prime Minster Boris Johnson said at Tuesday’s media briefing, but the prevailing sentiment in the country from boardrooms to active working living rooms remains one of uncertainty. We do not know how long the pandemic will rule our lives or how extensive the economic damage left in its wake will be. But we can reaffirm what we deem acceptable standards of corporate behaviour, and a sharp critical focus of corporate governance must inevitably remain on pay.

Governance Watch - Issue 66

Governance Watch - Issue 66

Investors and Stewardship

Investor stewardship has become the guardian of good corporate governance in this pandemic. Will it remain that way as we find a way to live and work beyond Covid-19? Only time – and the behaviour of business - will tell. However, it is clear, as lockdown starts to ease with caution in part of the United Kingdom, that ESG – the acronym taking in the environmental, societal and governance considerations for any business – has been thrust to the forefront. We will have to wait and see how high it features in the consideration of corporate governance by businesses aiming to serve society better by their actions.

Governance Watch - Issue 65

Governance Watch - Issue 65

On Governance, Ethics, Data – And Collaboration

We think of corporate governance as the essence of a business, good for building better companies which inspire public trust and that is why we spend so much time focusing on getting the thinking on the principles of governance right.

Every business faces daily challenges today the likes of which we have not seen before, due to technological advances, global supply chains, rising concern on environmental and climate risk, changing consumer attitudes and more. But the coronavirus pandemic must be the biggest challenge faced by corporate governance in a very long time. It is also one that should bring minds back to focus on fundamental issues of ethics and what we value.

The rise and rise of Amazon as a near instant delivery business that has continued to operate with remarkable efficiency has been apparent in recent weeks. It said recently it was looking to hire another 100,000 workers in the US and announced a raise in pay in the US, UK and Europe as it tries to meet the surge in demand for online shopping.

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