The Magazine of Corporate Responsibility

Archive for February, 2010

Catching Bad Guys: International Law Enforcement Ups the Ante

New agreements between the U.S., Europe Union and 56 European member states aim to make life more difficult for transnational criminals by making it easier for countries to extradite individuals charged with crimes and to jointly develop and share information.

BOOKS: Environmental Disasters as Case Studies in “This Borrowed Earth”

Robert Emmet Hernan provides a frightening catalog of detail in his new book, “This Borrowed Earth: Lessons from the 15 Worst Environmental Disasters around the World.” Hernan’s message is simple: “If we forget how and why these disasters happened and what horrible consequences emerged from them, we will not avert future disasters.”

Corporations See Sustainability Offerring Trillions in Opportunity

Sustainable development over the next several decades offers “vast new business opportunities” – valued as much as US$6.2 trillion – for companies that have “the foresight to lead,” according to a new report by a leading corporate sustainability group.

State Street Corp. to Pay $300 Million in Subprime Mortgage Case

State Street Corporation agreed to pay more than $300 million to settle a lawsuit brought by the Securities and Exchange Commission which charged the company with misleading its investors about their exposure to subprime investments while selectively disclosing more complete information to specific investors.

Bank of America Settles With SEC as NY AG Brings New Charges

Bank of America agreed to pay $150 million to settle a civil complaint brought by the Securities and Exchange Commisison in connection with its acquisition of Merrill Lynch in the midst of the 2008 financial crisis. Even as the SEC settlement was being announced, New York State Attorney General Andrew Cuomo announced a separate lawsuit against Bank of America

Senator Questions 30 Companies on Human Rights in China

U.S. Senator Dick Durbin this week sent letters to 30 information and communications technology companies – including Apple, Facebook, Skype and Twitter – seeking information about their human rights practices in China. Durbin also announced plans to hold a follow-up hearing on global internet freedom next month.

Corporate Sustainability Ranking Gets a Face Lift

Last week’s World Economic Forum in Davos, Switzerland, saw a major upgrade in the quantification of corporate sustainability with the unveiling of what the author calls the “second generation” of a list of the Global 100 Most Sustainable Corporations in the World.