Your CoSec
Green washing under ASIC focus
ASIC puts companies on notice for illegitimate sustainability claims
https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-026mr-asic-to-expand-enforcement-focus-areas-in-the-coming-year/
As Company Secretaries begin reviewing and drafting their Company's annual Corporate Governance Statements they should be mindful of how their Company's claims for sustainability are supported. ASIC and, following suit, the ASX will likely be quick on the trigger to fire out query letters wherever they think the lillies have been gilded.
What does a Cosec do?
The expectations of the Company Secretary are ever-expanding. Formerly the 'Chief Administrative Officer' then the 'Chief Governance Officer' and most recently described by the Chairman of ASIC as the
"Conscience of the Corporation".
It is critical for the functioning and protection of shareholders, directors and management that the company retain the best and broadest experience that they can in their Company Secretary to optimise decision-making and communications.
For me, the Company Secretary role is a window through which I can provide all of the board, executive and life experiences, contacts and learnings that I have to support the directors and management in seeking to make the most of every opportunity and avoid the pitfalls.