Corporate commitment to sustainability : is it all hot air? An Australian review of the linkage between executive pay and sustainable performance

Across time, companies have increasingly made public commitments to sustainable development and to reducing their impacts on climate change. Management remuneration plans (MRPs) are a key mechanism to motivate managers to achieve corporate goals. We review the MRPs negotiated with key management personnel in a sample of large Australian carbon-intensive companies. Our results show that, as in past decades, the companies in our sample have MRPs in place that continue to fixate on financial performance. We argue that this provides evidence of a disconnection, or ‘decoupling’, between the sustainability-related rhetoric of the sample companies, and their ‘real’ organisational practices and priorities.

Making more sustainable urban environments by responding to neurodiversity in later life

The ageing population is increasing worldwide, as are a range of chronic diseases, conditions, and physical and cognitive disabilities associated with later life. The older population is also neurologically diverse, with unique and specific challenges around mobility and engagement with the urban environment. Older people tend to interact less with cities and neighbourhoods, putting them at risk of further illnesses and co-morbidities associated with being less physically and socially active. Empirical evidence has shown that reduced access to healthcare services, health-related resources and social interaction opportunities is associated with increases in morbidity and premature mortality. While it is crucial to respond to the needs of this ageing population, there is insufficient evidence for interventions regarding their experiences of public space from the vantage point of neurodiversity. This paper provides a conceptual and methodological framework to investigate relationships between the sensory and cognitive abilities of older people, and their use and negotiation of the urban environment. The paper will refer to a case example of the city of Logan, an urban area in Queensland, Australia, where current urban development provides opportunities for the design of spaces that take experiences of neurodiversity into account. The framework will inform the development of principles for urban design for increasingly neurologically diverse populations.

Barriers to formal IT Governance practice - insights from a qualitative study

IT Governance (ITG) continues to be a top priority for organizations, public and non-public. While the level of awareness towards ITG is evident, it is hardly manifested in practice. The purpose of this study is to elicit factors that act as barriers to the adoption of formal ITG practice. This qualitative study consists of 9 semi-structured interviews with the key person in charge of ITG adoption and practice within their respective organizations. The interviews were analyzed using thematic content analysis, guided by themes previously obtained from the literature and from an earlier pilot study. Findings obtained supported previous findings and also reveal new factors noticeably absent from the ITG literature. The findings will provide useful input towards the development of a causal model on barriers to formal ITG practice

Corporate governance as social responsibility : a meta-regulation approach to raise social responsibility of corporate governance in a weak economy

Corporate governance (CG) denotes the rules of business decision-making and directs the internal mechanism of companies to follow the output of the rules. It includes the customs, policies, laws and institutions as a set of processes that affects the way in which a corporation is directed, administered or controlled.

Climate change-related corporate governance information : an explanation of the difference between the supply of and demand for such information

This study investigates the gap between the climate change-related corporate governance information being disclosed by companies, and the information sought by stakeholders. To accomplish this objective we utilised previous research on stakeholder demand for information, and we conducted in-depth interviews with six corporate representatives from major Australian emission-intensive companies. Having gained and documented a rich insight into the potential factors responsible for the current gap in disclosure we find that the existence of an expectations gap; the perceived cost of providing commercially sensitive information; the limited accountability being accepted by the corporate managers; and, a lack of stakeholder pressure together contribute to the lack of disclosure. In highlighting the gap in disclosure, this study suggests strategies to reduce the gap in climate change-related corporate governance disclosures.

The emerging role of the Board of Directors in enterprise business technology governance

In an increasingly business technology (BT) dependent world, the impact of the extraordinary changes brought about by the nexus of mobile and cloud technologies, social media and big data is increasingly being felt in the board room. As leaders of enterprises of every type and size, board directors can no longer afford to ignore, delegate or avoid BT-related decisions. Competitive, financial and reputational risk is increased if boards fail to recognize their role in governing technology as an asset and in removing barriers to improving enterprise business technology governance (EBTG). Directors’ awareness of the need for EBTG is increasing. However, industry research shows that board level willingness to rectify the gap between awareness and action is very low or non-existent. This literature review-based research identifies barriers to EBTG effectiveness. It provides a practical starting point for board analysis. We offer four outcomes that boards might focus on to ensure the organizations they govern are not left behind by those led by the upcoming new breed of technology-savvy leaders. Most extant research looks backward for examples, examining data pre-2010, the time when a tipping point in the personal and business use of multimedia and mobile-internet devices significantly deepened the impacts of the identified nexus technology forces, and began rapidly changing the way many businesses engage with their customers, employees and stakeholders. We situate our work amidst these nexus forces, discuss the board’s role in EBTG in this context, and modernize current definitions of enterprise technology governance. The primary limitation faced is the lack of scholarly research relating to EBTG in the rapidly changing digital economy. Although we have used recent (2011 - 2013) industry surveys, the volume of these surveys and congruence across them is significant in terms of levels of increased awareness and calls for increased board attention and competency in EBTG and strategic information use. Where possible we have used scholarly research to illustrate or discuss industry findings.

Towards the development of a best practice index for the disclosure of organisations' climate change-related corporate governance practices

The aim of this study is to develop a disclosure guide for climate-change-related corporate governance (CCCG) practices. Drawing from existing climate change policy guidelines together with content analysis of leading Australian companies’ disclosure practices, we develop a best practice index for the disclosure of CCCG practises. The best practice index is further informed, validated and refined by the contribution of experts from a range of stakeholder groups. Our index represents the most comprehensive list generated to date, utilising experts’ opinions, in relation to CCCG disclosure practices. This CCCG disclosure index would be useful for companies seeking to provide information in relation their CCCG practices

Corporate climate change-related governance practices and related disclosures : evidence from Australia

This paper investigates the climate change-related corporate governance disclosure practices of five major Australian energy-intensive companies over a 16-year period. In doing so, a content analysis instrument is developed to identify disclosures made in relation to various policies and procedures the organisations have in place for addressing the issues associated with climate change. This instrument is applied to the respective companies' annual reports and sustainability reports. An increasing trend is found in companies' climate change-related corporate governance disclosures over time; however, in many instances the disclosures provide limited insights into the climate change-related risks and opportunities confronting the sample companies.

Catalysing design principles through the dreaming of sustainable subtropical cityscapes : the collaborative construction of new place identities

This paper addresses the question of how to open up pathways and build capacity to facilitate the movement towards sustainable sub-tropical cities. The focus is on outlining a collaborative planning and co-design process that can help catalyse the emergence of sustainable place-habitats and so re-weave and colour anew the tapestry of our sub-tropical cities. Cities are portrayed as self-organising complex adaptive system phenomena, being constantly re-shaped by local and global social-political, environmental, cultural and economic forces as well as planning regimes. While constructing a sustainable city is at essence a design process incorporating new sustainable practices and legislation to reinforce their use, these steps are necessary but not sufficient. Sustainable sub-tropical city-making could be re-thought as a dreaming-re-storying process. This paper explores a new co-design process, which can channel collaborative efforts around re-inventing sustainable place-habitats across the cityscape. A further outcome of this co-design process is the alignment of the emergent design principles and planning actions that can trigger the re-storying of a new sustainable sub-tropical city. Besides a new co-design process, we also advocate the building of sub-tropical city learning networks to facilitate the cross-fertilization for Dreaming sustainable sub-tropical cities.

The 'Stakeholder Approach' to corporate governance and regulation : an assessment

The framework by which organizations are governed has been changed. A reason for this change is related with the force of stakeholders that compel the political power and the business society to review the ways in which companies are governed. Stakeholder thinking has gradually put this change at the center of research into business and society relations. Based on the stakeholder thinking, the corporate regulation framework has extended a new dimension in the business and society interface. This article assesses these issues.

The new governance approach to the devolution of corporate governance

The moral arguments associated with justice, fairness and communitarianism have rejected the exclusivity of cost‐benefit analysis in corporate governance. Particularly, the percepts of new governance (NG) have included distributive aspects in efficiency models focused on maximizing profits. While corporate directors were only assigned to look after the return of investment within the traditional framework of corporate governance (CG), NG has created the scope for them to look beyond the set of contractual liabilities. This article explores how and how far NG notions have contributed to the devolution of CG to create internal strategies focusing on actors, ethics and accountability in corporate self-regulation.

Statutory-backed continuous disclosure regime and corporate disclosure behaviour : does corporate governance matter?

Since 1 December 2002, the New Zealand Exchange’s (NZX) continuous disclosure listing rules have operated with statutory backing. To test the effectiveness of the new corporate disclosure regime, we compare the change in quantity of market announcements (overall, non-routine, non-procedural and external) released to the NZX before and after the introduction of statutory backing. We also extend our study in investigating whether the effectiveness of the new corporate disclosure regime is diminished or augmented by corporate governance mechanisms including board size, providing separate roles for CEO and Chairman, board independence, board gender diversity and audit committee independence. Our findings provide a qualified support for the effectiveness of the new corporate disclosure regime regarding the quantity of market disclosures. There is strong evidence that the effectiveness of the new corporate disclosure regime was augmented by providing separate roles for CEO and Chairman, board gender diversity and audit committee independence, and diminished by board size. In addition, there is significant evidence that share price queries do impact corporate disclosure behaviour and this impact is significantly influenced by corporate governance mechanisms. Our findings provide important implications for corporate regulators in their quest for...

Linking Karumba : Creating Sustainable Connections

Linking Karumba: Creating Sustainable Connections This exhibition showcases the work of 3rd -4th year undergraduate landscape architecture, architecture, Industrial Design, Environmental Engineering, Civil Engineering students in response to issues of sustainability in the Gulf of Carpentaria town of Karumba. It presented the work to the Karumba and Carpentaria Shire community. 16 students and four staff set off on a 2488km journey to undertake the first half of the Carpentaria Project: a fortnight-long strategic planning project entitled Linking Karumba to encourage social, economic, environmental and cultural linkages across the town. Karumba, along with the nearby town of Normanton, is one of Queensland’s most remote settlements. Its economy is based on fishing, tourism, and mining. It has two centres, 2.5km apart by river, or 9km by road. This physical disconnect was identified by Carpentaria Shire Council (CSC) and the Karumba Progress Association (KPA) as a source of socio-cultural disconnection, which formed the basis of our project brief. Student designs were highly responsive to the character of Karumba’s culture and environment, indicating remarkable levels of immersion, and attracting $830 000 in Qld. state government funding for implementation. The Exhibition Four groups of four students produced four strategic planning and design options toward this future: Make the Switch: Alice Anonuevo, Michael Marriott, Carla Priestley & Grant Harvey Realigning the Systems: Claudia Bergs, Rebecca Stephens, Anna Coulson & Lois Kerrigan Diversification of Experience: Rebecca North, Kyle Bush, Debra Sullivan & Jenna Green The River is the Main Street: Ashley Nicholson, Monica Kuiken, Dean Bowen & Bill Schild

Corporate governance and risk management : the role of risk management and compensation committees

This paper examines the role of compensation and risk committees in managing and monitoring the risk behaviour of Australian financial firms in the period leading up to the global financial crisis (2006–2008). This empirical study of 711 observations of financial sector firms demonstrates how the coordination of risk management and compensation committees reduces information asymmetry. The study shows that the composition of the risk and compensation committees is positively associated with risk, which, in turn, is associated with firm performance. More importantly, information asymmetry is reduced when a director is a member of both the risk and compensation committees which moderate the negative association between risk and firm performance for firms with high risk.

Community engagement : creating sustainable futures by design

QUT Alumni and Development Office, Engagement and Partnerships Seminar 'Managing Partnerships' As part of a week of engagement/partnership activities, this seminar outlined the engagement practices of 'Sustainable Futures by Design' and the BAC partnership. Presenters of two QUT Engagement Innovation projects discussed how emphasis on how the project benefited their work and the university generally, especially through the partnership, including through enhanced teaching and research. They outlined the principles and practices of good partnership management. Presenters: Shannon Satherley & Les Dawes: Community Engagement: Creating Sustainable Futures by Design Ashantha Goonetilleke & Bernard Murchison: QUT - BAC Partnership Satherley & Dawes: 'Developing and Maintaining the Partnerships: giving and receiving; expecting the unexpected; administration; enjoying the rewards.'C