EU Commission: Strong economic benefits with renewable targets - Member States must act for 2030

With its new Renewable Energy Strategy, the European Commission in Brussels today presented major reasons to favour legally binding renewable energy targets for 2030. Notably, the Strategy says: - "Strong renewables growth to 2030 could generate over 3 million jobs". - "A continuation of an EU-wide specific renewable energy framework post-2020 [...] would result in a net GDP growth by 0.36-0.40% by 2030". - "This increases our security of supply". - "The EU economy could save in 2050 between 518 and 550 billion Euros...[on]... EU expenditure for fossil fuel imports". "European Ministers must turn this message into action and back a renewable energy target for 2030, as supported by the Strategy's Impact Assessment", said Stephane Bourgeois, Head of Regulatory Affairs of the European Wind Energy Association (EWEA) in Brussels. "A legally binding renewable energy target for 2030 is crucial if we want to foster Europe's leadership in wind energy, and in particular offshore wind". See full Press Release.

Global Wind Day – from the Ukraine to the US, from Australia to Argentina

On 15 June 2011, ‘Global Wind Day’, citizens from around the world can discover the benefits of wind energy while having fun. With Middle East instability affecting oil prices and debate over nuclear following Fukushima, the hundreds of events on offer on Global Wind Day will show people everywhere how wind can be part of a stable, clean energy future. From Austria to Australia to Japan, Canada to Uruguay, Germany to the Ukraine , citizens will be able to watch open-air theatre, build kites for kite surfing, visit new wind farms, check out wind industry jobs fairs and play at wind energy parties. Highlights include the German Technology Museum in Berlin opening its doors for a wind energy exhibition and the announcement in New York City of WindMade – an initiative to develop a consumer label for companies and products using wind power. See full Press Release.

'Green growth – the impact of wind energy on jobs and the economy’

EWEA launched the 'Green growth – the impact of wind energy on jobs and the economy’ report during its Annual Wind Energy Conference and Exhibition in April. How much difference does wind energy make to the economy? Does it have a real impact on Europe’s GDP? And how many jobs does it create? EWEA’s report delves into all these questions and more. Based on figures from Deloitte, it provides an in-depth look at why wind energy can be a recession-busting industry. See full Report page.

CBI sees recession as a catalyst for new business era

The recession has become the catalyst for a new era in business, according to a report by the CBI.

The study by the employers' group identifies four key areas of UK business where new ways of working could develop because of the downturn.

They include more flexible workforces, greater collaborations among businesses and wider financing options.

See full Article.

Recession is the catalyst for a decade of business change

New trends emerging in supply chains, corporate finance and workforce dynamics

The recession has raised concerns about commercial models, supply chains and finance that will reshape business behaviour well into the next decade, the CBI said today.

Launching its report "The Shape of Business - The Next 10 Years", the UK's leading business organisation said that the recession and credit crunch had become the catalysts for a new era.

The report flags four key areas of UK business where fresh approaches will develop because of the downturn:

See full Press Release.

Consultation launched on ICGN Global Corporate Governance Principles

The ICGN Global Corporate Governance Principles is a vital framework for the ICGN work programme, both in policy and best practice development internationally. Paul Lee, Director of Hermes EOS, is leading a review of the Principles to ensure they are comprehensive and relevant to the current economic environment. Members are invited to comment on the review by responding to the consultation by 01 July 2009.

Access the Consultation.

Business Ethics Leadership Alliance

The Challenge

It’s Time to Make Your Business Ethics Count.

The unethical actions of a few businesses are creating a negative global impact. The public’s rush to assign blame will negatively affect businesses worldwide. A higher standard for business ethics is expected.

The Ethisphere Institute, in cooperation with leading corporations and global institutes, is designing that higher standard, the business ethics leadership alliance, so the public and investors can more easily identify which companies operate ethically.

See full Description.

ABI calls for review of directors' roles

The Association of British Insurers (ABI) has called for an overhaul of the roles of company chairmen and senior independent directors as part of a renewed drive to improve best practice in Britain's boardrooms.

Amid growing question marks over the effectiveness of executives charged with policing company boards, the lobby group for the fund management industry also reignited its call for the annual re-election of directors.

This should help to improve accountability in the wake of a growing list of financial scandals, the ABI said.

The ABI's members own a large portion of UK listed companies.

See full Article.

ABI calls for European 'supervisor of supervisors'

The Association of British Insurers (ABI) has thrown its weight behind the idea of a European ‘supervisor of supervisors’

Stephen Haddrill, director general of the ABI, said Great Britain could not be an ‘island unto itself’, and underscored the need for regulators to oversee financial services on an ‘international’ level.

He said national regulators must look after national issues but in relation to international affairs they must look across borders and co-operate.

The industry body praised the De Larosiere report, published a fortnight ago, which outlines proposals for pan-European regulation, and said it was moving in the ‘right direction’.

See full Article.

ICAEW gets tough on training

Institute members fined for not keeping up with their CPD obligations

The ICAEW has fined members for the first time for failing to meet the requirements for continuing professional development.

Under CPD rules, made compulsory by the institute in 2004, members have to provide evidence that their accounting skills have kept pace with their clients’ needs.

Rajbir Singh Sohal of Coventry and Martin Lewis Dawe of Isleworth were reprimanded and fined for not meeting CPD requirements between 2005 and 2006. Sohal was fined £1,000 and paid costs of £1,348. Dawe was fined £1,500 and ordered to pay costs of £1,198. Dawe was also stripped of membership after failing to pay.

See full Article.

GOPAC 3rd Global Conference

Start Date: 17 Nov 2008
End Date: 20 Nov 2008
Organiser: Global Organisation of Parliamentarians Against Corruption (GOPAC)
Where: Kuwait City, Kuwait

The Conference will bring together parliamentarians from around the world to focus on the role of parliamentarians in the UN Convention Against Corruption (UNCAC) and its effective implementation and oversight.

Key Objectives:

* Follow up on the resolutions passed in the last GOPAC Global Conference with a look to approve a continuing plan of action for GOPAC and its chapters working with other organizations interested in fighting corruption.
* Provide a valuable learning event for parliamentarians by linking peers and experts, and establish an agenda for action.
* Showcase the considerable success of ARPAC, but also comparable work in other GOPAC regions.

See full Details.

IFIAR considers audits during credit crunch

Audit inspections and the sharing of inspection techniques remains a high priority on IFIAR's agenda

Independent audit regulators discussed the adequacy of audit evidence to support fair value, going concern and the reliance auditors placed on specialists, at their fourth meeting in Cape Town this week.

Audit inspections and the sharing of inspection techniques remains a high priority on the agenda of the Independent Forum of Independent Audit Regulators, who met in Cape Town this week.

The group, which formed last year, have now also adopted a charter which has identified the sharing of knowledge of the audit market environment and practical experience on regulatory activity, as a focus of their work.

See full Article.

Ethics & Compliance Officer Association (ECOA) Releases Updated Conference Agenda

When: September 24-26, 2008
Where: JW Marriott Grande Lakes Hotel in Orlando, Florida, USA

The Ethics and Compliance Officer Association (ECOA) announces an updated agenda for its 2008 Annual Business Ethics and Compliance Conference. The conference occurs September 24-26, 2008, at the JW Marriott Grande Lakes Hotel in Orlando, Florida, and is sponsored by BAE Systems, Daylight Forensic & Advisory, Ernst & Young LLP, SAI Global, Global Compliance, General Mills, International Paper, and PricewaterhouseCoopers LLP. Additional support comes from American Electric Power Service Corporation, United Space Alliance, and Padgett Communications.

The extraordinary two-and-one-half-day program offers an invaluable opportunity for ethics and compliance practitioners to learn from leading peers and the highest-quality subject-matter experts, each contributing substantial thought leadership to the major issues facing the ethics and compliance community. The conference will accomplish its goals through panel presentations, keynote addresses, roundtable discussions, networking events, and substantive sessions on a variety of topics, including:

See full Details.

IFAC Global Survey Recognizes Profession's Role in Contributing to Economic Growth and Highlights Need for More Accounting Talent; World Accountancy W

In recognition of "World Accountancy Week," the International Federation of Accountants (IFAC) has released the results of its first annual Global Leadership Survey, which highlights issues the profession will be addressing in the coming year, national and regional perspectives on economic growth, and the profession’s role in contributing to that growth.

Worldwide leaders of professional accountancy organizations believe that a strong accountancy profession plays a key role in economic development globally and nationally and that an important focus in 2008 will be maintaining the profession’s good reputation, according to survey results. The IFAC survey also shows that in the coming year global accountancy leaders will focus on attracting new accounting talent to their ranks, particularly in regions such as sub-Saharan Africa, the Middle East, North Africa, and North America, where the most pressing staff shortages exist.

“Maintaining a strong reputation is critical to attracting and retaining talented accountancy professionals,” emphasizes IFAC President Fermín del Valle. “In particular, investor confidence in the profession is vital to the profession’s ability to contribute to the optimal functioning of capital markets and, consequently, to economic development.”

See full Press Release.

ECOA 2007 Annual Business Ethics & Compliance Conference

When: September 26-28, 2007
Where: Hyatt Regency Hotel, Los Angeles, California, USA

The ECOA conference is the largest multi-industry gathering of corporate ethics and compliance practitioners. Sessions will be led by prominent subject matter experts and experienced ethics and compliance officers. Conference sessions address the latest issues and provide opportunities for the exchange of innovative ideas and practical, proven methods for implementing and maintaining successful ethics, compliance and business conduct programs.
Pre-Conference Agenda At A Glance

This years' Pre-Conference Workshops are scheduled for Tuesday, September 25, 2007. Full-day sessions are from 9:00 a.m. to 4:00 p.m. Half-day sessions are from 9:00 a.m. to 12:00 p.m. or from 1:00 p.m. to 4:00 p.m. Pre-registration is required. Pre-Conference Workshop registration includes continental breakfast, coffee breaks and lunch.

See full Details.

Financial Reporting Council Consultation on the Combined Code

We are writing on behalf of the Shareholder Rights Committee of the International Corporate Governance Network (ICGN), which as you know is a global membership organisation of institutional and private investors, corporations and advisors. Our membership spans over 40 countries and the investor members represent capital under management in excess of US $10 trillion. The aim of the ICGN is to contribute to raising standards of corporate governance through the exchange of ideas and information across borders and the development of best practices. Accordingly, we thank the Financial Reporting Council (FRC) for the opportunity to submit comments to its review of the impact of the Combined Code.

We would agree with the findings of your meetings, namely that the Code is working reasonably well but that there is room for improvement on the part of both investors and companies to ensure that its guidance is applied usefully and pragmatically. It is our view that this is more likely to be achieved through continued improvement in practices rather than changes to the Code itself.

See full Letter.

Top 10 downloads in the Working Paper Series in Finance

Top 10 downloads in the Working Paper Series in Law

Disclosure responsibilities and building trust: promoting transparent and reliable information

This discussion paper explores the role of the accountancy profession in helping to facilitate the flow of capital through transparent, efficient and trusted information.

A free copy of Disclosure responsibilities and building trust – promoting transparent and reliable information is available.

The paper provides information relevant to the questions in the Accounting dialogue section of the Pressure Points consultation paper which are as follows:

See full Press Release.

Shareholder responsibilities and the investing public: exercising ownership rights through engagement

This discussion paper outlines the rights, responsibilities and powers accorded to shareholders in the US and the UK. It looks at how institutional shareholders in each jurisdiction engage with companies to influence corporate governance and ultimately the value of the client’s investments.

A free copy of Shareholder responsibilities and the investing public - exercising ownership rights through engagement is available here

The paper provides information relevant to the questions in the Investment dialogue section of the Pressure Points consultation paper which are as follows:

See full Press Release.