Plans put out by the Albanese administration in Australia would require banks and other large corporations to tell the public what they are doing to reduce emissions.

The government is also searching for measures to combat "greenwashing," which occurs when companies exaggerate their environmental policies in an effort to win over customers.

In a speech Monday in Sydney, the treasurer, Jim Chalmers, will state that Australian businesses "need to make credible disclosures to stay competitive in global capital markets."

“There’s now broad acceptance that proper disclosure of these financial risks and impacts isn’t a nice-to-have extra,” he will say, according to speech notes distributed by his office in advance.

“This information is need-to-know – essential to mobilising the weight of our financial system behind the net zero transition.”

On Monday, Treasury will publish a consultation document on the creation of an Australian mechanism for disclosing climate risk, as reported by the Guardian.&nbsp;

The government contends that in order for businesses and investors to manage climate risks and invest in new possibilities, they need clarity and confidence. It requests "more information and more openness on how they are reacting to climate change and assisting the transition to net zero" from big business and financial institutions.

The government says the reporting requirements are expected to be mandatory for large entities and phased in over time. It also plans to apply “appropriately tailored requirements to comparable commonwealth public sector corporate entities and investment funds”.

The government has also urged that Treasury create a thorough plan to expand Australia's green finance markets and take advantage of emerging global possibilities in sustainable finance.

WATCH WION LIVE HERE:

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Plans put out by the Albanese administration in Australia would require banks and other large corporations to tell the public what they are doing to reduce emissions.

Plans put out by the Albanese administration in Australia would require banks and other large corporations to tell the public what they are doing to reduce emissions. The government is also searching for measures to combat "greenwashing," which occurs when companies exaggerate their environmental policies in an effort to win over customers. In a speech Monday in Sydney, the treasurer, Jim Chalmers, will state that Australian businesses "need to make credible disclosures to stay competitive in global capital markets." “There’s now broad acceptance that proper disclosure of these financial risks and impacts isn’t a nice-to-have extra,” he will say, according to speech notes distributed by his office in advance. “This information is need-to-know – essential to mobilising the weight of our financial system behind the net zero transition.” On Monday, Treasury will publish a consultation document on the creation of an Australian mechanism for disclosing climate risk, as reported by the Guardian. The government contends that in order for businesses and investors to manage climate risks and invest in new possibilities, they need clarity and confidence. It requests "more information and more openness on how they are reacting to climate change and assisting the transition to net zero" from big business and financial institutions. The government says the reporting requirements are expected to be mandatory for large entities and phased in over time. It also plans to apply “appropriately tailored requirements to comparable commonwealth public sector corporate entities and investment funds”. The government has also urged that Treasury create a thorough plan to expand Australia's green finance markets and take advantage of emerging global possibilities in sustainable finance. WATCH WION LIVE HERE:

Australia considers laws requiring large corporations to reveal their climate change initiatives

<a href="https://www.wionews.com/india-news/supreme-court-refuses-to-entertain-pil-seeking-guidelines-for-frisking-of-students-during-examinations-235264/amp">Chief Justice of India (CJI) Ranjan Gogoi</a> on Friday said that Corporate Social Responsibility (CSR) should be integrated into modern business strategy.

Speaking at the second annual Dr APJ Abdul Kalam Memorial Lecture in Associated Chambers of Commerce of India (ASSOCHAM), Gogoi said, "In order to achieve the goal of <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/india-news/mayawati-weakening-fight-for-social-justice-says-sp-after-bsps-alliance-snub-229997&amp;sa=U&amp;ved=2ahUKEwjijufPvrHjAhXRaN4KHa2hAKE4ChAWMAV6BAgCEAI&amp;usg=AOvVaw0KclMUvVLLb_dlDdKPEr7c">social justice</a> in the best possible manner, it is necessary that CSR is integrated into our modern business strategy so as to make it sustainable."

"We can do that by making our business adopt, demonstrate and practice more holistic approaches to business where financial drivers together with sustainable development performance like a social utility, environmental protection, and economic growth are incorporated into mainstream business strategy and are embedded in organisational values," Gogoi said.&nbsp;

He further said that CSR goes beyond charity and requires the companies and businesses to act beyond their legal obligations and to integrate social, environmental and ethical concerns into a company`s business process.

"CSR at its best is about the corporate sector reaching out from within to society outside in order to benefit both business and social and physical environment from which it springs and within which it functions.&nbsp;

CSR does synergize social and business interests.&nbsp;

It is because of such interdependence of business and society in modern times that makes CSR exceedingly important and it is because of that reason that CSR has been made mandatory in our country," said Gogoi.

Terming the Companies Act 2013 as a historic milestone in the context of the growth of CSR, the CJI said the Act "provides an opportunity in the corporate sector to socialise its business operations.&nbsp;

The 2013 Act has introduced several provisions that will change the way Indian corporates do business and one such provision is spending on CSR activities.&nbsp;

Thus CSR which has largely been a voluntary contribution by corporates has now been mandated by law."

Chief Justice of India (CJI) Ranjan Gogoi on Friday said that Corporate Social Responsibility (CSR) should be integrated into modern business strategy. Speaking at the second annual Dr APJ Abdul Kalam Memorial Lecture in Associated Chambers of Commerce of India (ASSOCHAM), Gogoi said, "In order to achieve the goal of social justice in the best possible manner, it is necessary that CSR is integrated into our modern business strategy so as to make it sustainable.

Chief Justice of India (CJI) Ranjan Gogoi on Friday said that Corporate Social Responsibility (CSR) should be integrated into modern business strategy. Speaking at the second annual Dr APJ Abdul Kalam Memorial Lecture in Associated Chambers of Commerce of India (ASSOCHAM), Gogoi said, "In order to achieve the goal of social justice in the best possible manner, it is necessary that CSR is integrated into our modern business strategy so as to make it sustainable." "We can do that by making our business adopt, demonstrate and practice more holistic approaches to business where financial drivers together with sustainable development performance like a social utility, environmental protection, and economic growth are incorporated into mainstream business strategy and are embedded in organisational values," Gogoi said. He further said that CSR goes beyond charity and requires the companies and businesses to act beyond their legal obligations and to integrate social, environmental and ethical concerns into a company`s business process. "CSR at its best is about the corporate sector reaching out from within to society outside in order to benefit both business and social and physical environment from which it springs and within which it functions. CSR does synergize social and business interests. It is because of such interdependence of business and society in modern times that makes CSR exceedingly important and it is because of that reason that CSR has been made mandatory in our country," said Gogoi. Terming the Companies Act 2013 as a historic milestone in the context of the growth of CSR, the CJI said the Act "provides an opportunity in the corporate sector to socialise its business operations. The 2013 Act has introduced several provisions that will change the way Indian corporates do business and one such provision is spending on CSR activities. Thus CSR which has largely been a voluntary contribution by corporates has now been mandated by law."

CSR should be integrated into modern business strategy, says CJI Ranjan Gogoi

The Jharkhand government will purchase sanitary napkins from Self-help Groups (SHGs) for distribution among schoolgirls, Chief Minister Raghubar Das has said.

The government had during the recent budget session taken this decision to empower women working in SHGs, the CM told reporters yesterday after inspecting a sanitary napkin manufacturing centre at Bagunhatu in Jamshedpur East constituency, his home turf.

Das had won five times in a row from the constituency since 1995.

Tata Steel, under its Corporate Social Responsibility (CSR) initiatives, has been providing training to women in SHGs to make sanitary napkins.

Altogether 15 SHGs here have been engaged in napkin manufacturing work in Bagunhatu, the CM said, adding that the initiative is aimed at promoting self-employment.

The state that was spending around Rs 25 crores annually to buy sanitary napkins from contractors will now procure them from these self-help groups, he said.

Appealing to the media to promote locally made goods, he said Prime Minister Narendra Modi&#39;s dream of doubling the income of poor can be fulfilled by endorsing products of small and cottage industries.

The CM appreciated the women engaged in manufacturing the napkins and said the initiative will benefit families that do not have a proper source of income.

The state government&#39;s move comes at a time when people have been actively participating in actor Akshay Kumar&#39;s &#39;Pad Man Challenge&#39; on social media to promote menstrual hygiene.

&#39;Pad Man&#39;, a film starring Akshay Kumar and Sonam Kapoor, tracks the journey of social activist Arunachalam Muruganantham, the inventor of the low-cost sanitary pad-making machine.&nbsp;

Altogether 15 SHGs here have been engaged in napkin manufacturing work in Bagunhatu

The Jharkhand government will purchase sanitary napkins from Self-help Groups (SHGs) for distribution among schoolgirls, Chief Minister Raghubar Das has said. The government had during the recent budget session taken this decision to empower women working in SHGs, the CM told reporters yesterday after inspecting a sanitary napkin manufacturing centre at Bagunhatu in Jamshedpur East constituency, his home turf. Das had won five times in a row from the constituency since 1995. Tata Steel, under its Corporate Social Responsibility (CSR) initiatives, has been providing training to women in SHGs to make sanitary napkins. Altogether 15 SHGs here have been engaged in napkin manufacturing work in Bagunhatu, the CM said, adding that the initiative is aimed at promoting self-employment. The state that was spending around Rs 25 crores annually to buy sanitary napkins from contractors will now procure them from these self-help groups, he said. Appealing to the media to promote locally made goods, he said Prime Minister Narendra Modi's dream of doubling the income of poor can be fulfilled by endorsing products of small and cottage industries. The CM appreciated the women engaged in manufacturing the napkins and said the initiative will benefit families that do not have a proper source of income. The state government's move comes at a time when people have been actively participating in actor Akshay Kumar's 'Pad Man Challenge' on social media to promote menstrual hygiene. 'Pad Man', a film starring Akshay Kumar and Sonam Kapoor, tracks the journey of social activist Arunachalam Muruganantham, the inventor of the low-cost sanitary pad-making machine.

Jharkhand govt will buy sanitary pads from Self-Help Groups: CM

As the &ldquo;<a href="https://twitter.com/kaspersky/status/879749175570817024">NotPetya</a>&rdquo; ransomware attack <a href="https://www.nytimes.com/2017/06/27/technology/ransomware-hackers.html">spreads around the world</a>, it&rsquo;s making clear how important it is for everyone &ndash; and particularly corporations &ndash; to take cybersecurity seriously. The <a href="https://www.forbes.com/sites/thomasbrewster/2017/06/27/petya-notpetya-ransomware-is-more-powerful-than-wannacry/">companies affected by this malware</a> include <a href="https://www.usatoday.com/story/tech/news/2017/06/27/large-cyberattack-hits-europe-disrupts-power-grid-banks/103226268/">power utilities, banks and technology firms</a>. Their customers are now left without power and other crucial services, in part because the companies did not take action and make the investments necessary to better protect themselves from these cyberattacks.

Cybersecurity is becoming another facet of the growing movement demanding <a href="http://csr-asia.com/csr-asia-weekly-news-detail.php?id=12692">corporate social responsibility</a>. This broad effort has already made progress toward getting workers paid a <a href="https://www.ecotextile.com/2016051922130/social-compliance-csr-news/living-wage-from-clothing-premium.html">living wage</a>, encouraging companies to operate <a href="http://www.triplepundit.com/2017/01/10-companies-zero-waste-to-landfill/">zero-waste production plants</a> and practice <a href="http://greenlivingideas.com/2015/08/31/cradle-to-cradle-manufacturing/">cradle-to-cradle manufacturing</a> &ndash; and even getting them to <a href="http://www.cnbc.com/2017/06/16/toms-founder-blake-mycoskie-shares-his-favorite-book-of-all-time.html">donate products</a> to people in need.

The overall idea is that companies should make corporate decisions that reflect obligations not just to owners and shareholders, customers and employees, but to society at large and the natural environment. As a scholar of cybersecurity law and policy and chair of Indiana University&rsquo;s new integrated program on <a href="https://cybersecurityprograms.indiana.edu/">cybersecurity risk management</a>, I say it&rsquo;s time to add cyberspace to that list.

Online security affects everyone

The recent <a href="http://www.bbc.com/news/technology-40085241">WannaCry ransomware attack</a> affected more than 200,000 computers in <a href="https://www.bleepingcomputer.com/news/security/new-data-shows-most-wannacry-victims-are-from-china-not-russia/">150 nations</a>. The results of the attack made clear that computers whose <a href="https://theconversation.com/why-installing-software-updates-makes-us-wannacry-77667">software is not kept up to date</a> can hurt not only the computers&rsquo; owners, but ultimately all internet users. The companies hit by the NotPetya attack didn&rsquo;t heed that warning, and got caught by an attack <a href="https://www.wired.com/story/petya-ransomware-outbreak-eternal-blue/">using the same vulnerability as WannaCry</a>, because they still haven&rsquo;t updated their systems.

Some policymakers and managers are taking notice <a href="http://www.chinadailyasia.com/opinion/2016-09/11/content_15493388.html">around the world</a>. In the U.S., the Department of Homeland Security, the <a href="https://www.dhs.gov/topic/cybersecurity">chief federal agency dealing with cybersecurity</a>, has highlighted businesses&rsquo; &ldquo;<a href="https://www.dhs.gov/blog/2013/10/18/cybersecurity-shared-responsibility">shared responsibility</a>&rdquo; to <a href="https://www.dhs.gov/blog/2013/10/18/cybersecurity-shared-responsibility">protect themselves</a> against cyberattacks. Consumers can&rsquo;t protect their utility services, banking systems or even their personal data on their own, and must depend on companies to handle that security.

Cybersecurity is an effort that not only protects &ndash; and even benefits &ndash; a company&rsquo;s bottom line but also contributes to overall <a href="http://www.huffingtonpost.com/scott-j-shackelford/sustainable-cybersecurity_b_6988050.html">corporate and societal sustainability</a>. In addition, by protecting privacy, free expression and the exchange of information, cybersecurity helps support people&rsquo;s <a href="https://theconversation.com/should-cybersecurity-be-a-human-right-72342">human rights</a>, both online and offline.

Vaccinating cyberspace

If more companies get serious about cybersecurity, the internet ecosystem will be safer for everyone. The concept is much like vaccinating people against disease: <a href="https://www.vaccines.gov/basics/protection/index.html">If enough people are protected, the others benefit too</a>, through what is called &ldquo;<a href="https://theconversation.com/herd-immunity-and-measles-why-we-should-aim-for-100-vaccination-coverage-36868">herd immunity</a>.&rdquo;

In terms of deterring hackers, the number of vulnerable targets will drop, making it harder for hackers to find them, and less worthwhile to even look. And more companies will have defenses ready when cyber attackers come calling. This isn&rsquo;t a perfect solution: With enough time and resources, any system is vulnerable. But this change in corporate perception is an important step in developing a global <a href="http://www.cambridge.org/us/academic/subjects/law/e-commerce-law/managing-cyber-attacks-international-law-business-and-relations-search-cyber-peace?format=HB&amp;isbn=9781107004375">culture of cybersecurity</a>.

Customers can get involved in this effort, demanding better cybersecurity from companies they do business with. These can include online retailers, whether small specialized sellers or giants like Amazon. But local bricks-and-mortar stores with customer loyalty programs that have built their brands on trust can also be susceptible to consumer pressure.

To date, it&rsquo;s been hard to know which companies have the best cybersecurity practices. The product and service reviewers at Consumer Reports have made a start: In March they started <a href="http://www.consumerreports.org/privacy/consumer-reports-to-begin-evaluating-products-services-for-privacy-and-data-security/">evaluating devices, software and mobile apps</a> for privacy and cybersecurity.

Advocacy groups like the <a href="http://www.internetsociety.org/">Internet Society</a> <a href="http://www.cyberpeacefoundation.org/">and</a> <a href="https://staysafeonline.org/">many</a> <a href="https://www.comptia.org/advocacy">others</a> should ask companies to discuss cybersecurity efforts in their reports to shareholders. And they should urge government agencies to develop voluntary programs like the <a href="https://www.energystar.gov/">U.S. Environmental Protection Agency&rsquo;s Energy Star</a> appliance-efficiency rating system. The U.K. has a certification like this for cybersecurity, called <a href="https://www.cyberessentials.org/">Cyber Essentials</a>. These efforts don&rsquo;t require executives or managers to make different decisions, but help inform them &ndash; and the public &ndash; about how the choices they make affect consumers.

<img alt="The Conversation" height="1" src="https://counter.theconversation.edu.au/content/79810/count.gif?distributor=republish-lightbox-basic" width="1" />Ultimately, companies will play a huge role in shaping the future of our shared experience online. Cybersecurity and data privacy are key elements of this, and it&rsquo;s time consumers demand corporations treat them as the 21st-century social responsibilities they are.

&nbsp;

This article was originally published on <a href="http://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/notpetya-ransomware-attack-shows-corporate-social-responsibility-should-include-cybersecurity-79810">original article</a>.

Computers whose software is not kept up to date can hurt not only the computers? owners, but ultimately all internet users

As the “NotPetya” ransomware attack spreads around the world, it’s making clear how important it is for everyone – and particularly corporations – to take cybersecurity seriously. The companies affected by this malware include power utilities, banks and technology firms. Their customers are now left without power and other crucial services, in part because the companies did not take action and make the investments necessary to better protect themselves from these cyberattacks. Cybersecurity is becoming another facet of the growing movement demanding corporate social responsibility. This broad effort has already made progress toward getting workers paid a living wage, encouraging companies to operate zero-waste production plants and practice cradle-to-cradle manufacturing – and even getting them to donate products to people in need. The overall idea is that companies should make corporate decisions that reflect obligations not just to owners and shareholders, customers and employees, but to society at large and the natural environment. As a scholar of cybersecurity law and policy and chair of Indiana University’s new integrated program on cybersecurity risk management, I say it’s time to add cyberspace to that list. Online security affects everyone The recent WannaCry ransomware attack affected more than 200,000 computers in 150 nations. The results of the attack made clear that computers whose software is not kept up to date can hurt not only the computers’ owners, but ultimately all internet users. The companies hit by the NotPetya attack didn’t heed that warning, and got caught by an attack using the same vulnerability as WannaCry, because they still haven’t updated their systems. Some policymakers and managers are taking notice around the world. In the U.S., the Department of Homeland Security, the chief federal agency dealing with cybersecurity, has highlighted businesses’ “shared responsibility” to protect themselves against cyberattacks. Consumers can’t protect their utility services, banking systems or even their personal data on their own, and must depend on companies to handle that security. Cybersecurity is an effort that not only protects – and even benefits – a company’s bottom line but also contributes to overall corporate and societal sustainability. In addition, by protecting privacy, free expression and the exchange of information, cybersecurity helps support people’s human rights, both online and offline. Vaccinating cyberspace If more companies get serious about cybersecurity, the internet ecosystem will be safer for everyone. The concept is much like vaccinating people against disease: If enough people are protected, the others benefit too, through what is called “herd immunity.” In terms of deterring hackers, the number of vulnerable targets will drop, making it harder for hackers to find them, and less worthwhile to even look. And more companies will have defenses ready when cyber attackers come calling. This isn’t a perfect solution: With enough time and resources, any system is vulnerable. But this change in corporate perception is an important step in developing a global culture of cybersecurity. Customers can get involved in this effort, demanding better cybersecurity from companies they do business with. These can include online retailers, whether small specialized sellers or giants like Amazon. But local bricks-and-mortar stores with customer loyalty programs that have built their brands on trust can also be susceptible to consumer pressure. To date, it’s been hard to know which companies have the best cybersecurity practices. The product and service reviewers at Consumer Reports have made a start: In March they started evaluating devices, software and mobile apps for privacy and cybersecurity. Advocacy groups like the Internet Society and many others should ask companies to discuss cybersecurity efforts in their reports to shareholders. And they should urge government agencies to develop voluntary programs like the U.S. Environmental Protection Agency’s Energy Star appliance-efficiency rating system. The U.K. has a certification like this for cybersecurity, called Cyber Essentials. These efforts don’t require executives or managers to make different decisions, but help inform them – and the public – about how the choices they make affect consumers. Ultimately, companies will play a huge role in shaping the future of our shared experience online. Cybersecurity and data privacy are key elements of this, and it’s time consumers demand corporations treat them as the 21st-century social responsibilities they are. This article was originally published on The Conversation. Read the original article.

'Petya' ransomware attack shows corporate social responsibility should include cybersecurity