Corporate Governance – Upbeet Communications http://upbeetcommunications.com/ Mon, 10 Jan 2022 05:35:29 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://upbeetcommunications.com/wp-content/uploads/2021/07/icon-3.png Corporate Governance – Upbeet Communications http://upbeetcommunications.com/ 32 32 SHAREHOLDER ALERT: Robbins LLP is investigating Clarivate Plc (CLVT) on behalf of shareholders https://upbeetcommunications.com/shareholder-alert-robbins-llp-is-investigating-clarivate-plc-clvt-on-behalf-of-shareholders/ Mon, 10 Jan 2022 05:34:00 +0000 https://upbeetcommunications.com/shareholder-alert-robbins-llp-is-investigating-clarivate-plc-clvt-on-behalf-of-shareholders/ SAN DIEGO – (COMMERCIAL THREAD) – Shareholder rights law firm Robbins LLP is investigating Clarivate Plc (NYSE: CLVT) to determine whether certain officers and directors of Clarivate have violated securities laws and their fiduciary duties to shareholders. Clarivate, an information and analytics services company, provides structured insights and analytics for the discovery, protection and commercialization […]]]>

SAN DIEGO – (COMMERCIAL THREAD) – Shareholder rights law firm Robbins LLP is investigating Clarivate Plc (NYSE: CLVT) to determine whether certain officers and directors of Clarivate have violated securities laws and their fiduciary duties to shareholders. Clarivate, an information and analytics services company, provides structured insights and analytics for the discovery, protection and commercialization of scientific research, innovations and brands.

If you would like more information about our investigation into the misconduct of Clarivate Plc., Click here.

Clarivate Plc (CLVT) made financial anomalies

On December 27, 2021, Clarivate disclosed in a document filed with the United States Securities and Exchange Commission that “[o]n December 22, 2021, Clarivate … concluded that the financial statements previously published as at December 31, 2020 and for the year ended December 31, 2020, and the quarterly periods ended March 31, 2021, June 30, 2021 and September 30, 2021, should no longer be relied on due to an error in these financial statements[.]”Specifically, Clarivate reported that”[t]The error concerns the treatment under United States generally accepted accounting principles (“GAAP”) concerning an action plan included in the business combination of CPA Global, which was completed on October 1, 2020 (“the global CPA operation ”). In the relevant financial statements, certain allocations made by CPA Global as part of its action plan were incorrectly included in the recognition of the acquisition for the CPA Global transaction. Following this news, the Clarivate share price fell $ 1.70 per share, or 6.92%, to close at $ 22.78 per share on December 28, 2021.

The shareholders of Clarivate Plc (CLVT) have legal options. If you own shares of Clarivate Plc, contact us for more information on your rights.

Any representation is on the basis of contingency fees. Shareholders pay no fees or expenses.

Contact us for more information:

Aaron Dumas

(800) 350-6003

adumas@robbinsllp.com

Information form for shareholders

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP are dedicated to helping shareholders recover their losses, improve corporate governance structures, and hold top executives. company responsible for their wrongdoing since 2002. To be notified of a class action lawsuit against Clarivate Plc rule or to receive free alerts when company executives commit wrongdoing, join Stock Watch today.

Lawyer advertising. Past results do not guarantee a similar result.


Source link

]]>
BDC traders urge CBN to reconsider forex ban https://upbeetcommunications.com/bdc-traders-urge-cbn-to-reconsider-forex-ban/ Mon, 03 Jan 2022 09:01:22 +0000 https://upbeetcommunications.com/bdc-traders-urge-cbn-to-reconsider-forex-ban/ The Association of Bureaux De Change Operators of Nigeria (ABCON) urged the CBN to reconsider the ban on allowing BDC operators to receive diaspora remittances in 2022. This was revealed in a statement released over the weekend signed by ABCON President Alhaji (Dr) Aminu Gwadabe. According to Gwadabe, the BDC industry’s annual transaction volume of […]]]>

The Association of Bureaux De Change Operators of Nigeria (ABCON) urged the CBN to reconsider the ban on allowing BDC operators to receive diaspora remittances in 2022.

This was revealed in a statement released over the weekend signed by ABCON President Alhaji (Dr) Aminu Gwadabe.

According to Gwadabe, the BDC industry’s annual transaction volume of over N1 trillion is threatened, as huge capital investments in the sector become obsolete, eroded and shrunk.

What the BDCs say

Gwadabe suggested that just as the CBN reduced the risks to the agricultural sector, making it easier for farmers to obtain single-digit loans from banks, the CBN could also reduce the risk of BDC operations, allowing them to receive diaspora remittances via International Money Supply. operators (IMTO) and deepen the flow of foreign capital to the economy.

ABCON, according to Gwadabe, recognizes CBN’s difficulties in maintaining weekly dollar interventions in BDCs due to declining foreign reserves, declining oil production and oil theft, resulting economic hardship. by Covid-19, fiscal policy issues, the debt burden, and election spending.

We support all measures that would lead to anti-money laundering and anti-terrorist financing (AML / CFT) compliance, supporting the exchange rate stability policies of the CBN and security agencies to punish any BDC operator in violation of corporate governance and compliance guidelines.

“We sincerely believe that the BDCs must be formally reinstated to ensure their powerful and continued role in managing exchange rate stability.“said Gwadabe.

He said ABCON is now training compliance officers to make sure they are aware of what is expected of them, especially in terms of monthly reporting of results and tracking illicit financial flows.

ABCON, according to Gwadabe, has established itself as a vital player in BDC’s business over the years and has made various promises and sacrifices to ensure that the sector thrives despite all difficulties.

Recognizing the role of BDCs in the Nigerian financial sector remains the first step towards building a sustainable and viable foreign exchange market, comparable to what can be achieved in other developed economies. But getting the Nigerian BDC sector to where it is needed requires hard work, quality leadership, regulatory foresight, and sound government policies.,” he said.

In case you missed it

  • In July 2021, the governor of the CBN banned the supply of foreign currency to BDC operators in the country, following various operators’ breaches of Nigeria’s monetary policy.
  • CBN Governor Godwin Emefiele also announced the end of licensing of new bureau de change operators (BDCs) and the continued processing of BDC forex applications across the country.


Source link

]]>
NLOK (formerly NASDAQ: SYMC) Investor Alert: Kyros Law files legal claims on behalf of Symantec Corporation (NASDAQ: NLOK, formerly NASDAQ: SYMC) Investors https://upbeetcommunications.com/nlok-formerly-nasdaq-symc-investor-alert-kyros-law-files-legal-claims-on-behalf-of-symantec-corporation-nasdaq-nlok-formerly-nasdaq-symc-investors/ Sat, 01 Jan 2022 04:20:00 +0000 https://upbeetcommunications.com/nlok-formerly-nasdaq-symc-investor-alert-kyros-law-files-legal-claims-on-behalf-of-symantec-corporation-nasdaq-nlok-formerly-nasdaq-symc-investors/ BOSTON, December 31, 2021 / PRNewswire / – Kyros Law Offices is warning investors at Symantec Corporation (NASDAQ: NLOK, formerly NASDAQ: SYMC) that the deadline for filing claims for the settlement of the investor lawsuit against the company is fast approaching. The company has agreed to settle a lawsuit brought against it by investors for […]]]>

BOSTON, December 31, 2021 / PRNewswire / – Kyros Law Offices is warning investors at Symantec Corporation (NASDAQ: NLOK, formerly NASDAQ: SYMC) that the deadline for filing claims for the settlement of the investor lawsuit against the company is fast approaching.

The company has agreed to settle a lawsuit brought against it by investors for more than $ 70 million.

Symantec Corporation (NASDAQ: NLOK, Formerly NASDAQ: SYMC) investors who bought between MAY 11, 2017 and OCTOBER 31, 2018 are urged to immediately contact our law firm to protect their rights. Visit our NASDAQ: NLOK (Formerly NASDAQ: SYMC) Lawsuit Resolution Website or call 1-800-934-2921 to speak to someone about your case. Your legal rights will be affected whether you take action or not. If you do not act, you can permanently waive your right to recover this claim.

According to the lawsuit, throughout the litigation period, the company made false and / or misleading statements and failed to disclose that: could impact executive compensation programs ”would lead to regulatory review from the SEC and, therefore, Symantec’s public statements were materially false and misleading. As such, the rights of investors in the company may have been adversely affected.

Symantec Corporation (NASDAQ: NLOK, Formerly NASDAQ: SYMC) investors who bought between MAY 11, 2017 and OCTOBER 31, 2018 are urged to immediately contact our law firm to protect their rights. Visit our NASDAQ: NLOK (Formerly NASDAQ: SYMC) Lawsuit Resolution Website or call 1-800-934-2921 to speak to someone about your case.

Receive alerts on potential class actions that may affect you by visiting the Class Action Center website.

Kyros’ law specializes in a wide range of complex litigation, mass tort and corporate governance matters, including the representation of whistleblowers, shareholders and consumers in connection with securities fraud, misrepresentation and misrepresentation. class actions. Our lawyers have been tasked with recovering hundreds of millions of dollars for our clients throughout United States, Africa, Asia and Europe. Visit our website to find out more about our firm.

THE SOURCE Kyros’ law


Source link

]]>
BPSR unveils 4 books on governance and reforms https://upbeetcommunications.com/bpsr-unveils-4-books-on-governance-and-reforms/ Thu, 30 Dec 2021 09:10:20 +0000 https://upbeetcommunications.com/bpsr-unveils-4-books-on-governance-and-reforms/ The Bureau of Public Service Reforms (BPSR) published four books in 2021 to provide additional information on governance and reform initiatives aimed at boosting service delivery in the public service. Its managing director, Mr. Dasuki Ibrahim Arabi, who said so in a press release signed by the department’s chief information officer, Aliyu Umar Aliyu, said […]]]>

The Bureau of Public Service Reforms (BPSR) published four books in 2021 to provide additional information on governance and reform initiatives aimed at boosting service delivery in the public service.

Its managing director, Mr. Dasuki Ibrahim Arabi, who said so in a press release signed by the department’s chief information officer, Aliyu Umar Aliyu, said the books included “Revised Corporate Governance Manual; Guide to Performance Management in the Public Service; Handbook for Mentoring in the Public Service ”and“ Succession Planning in the Public Service ”.

Arabi, who was speaking at the 2021 edition of the BPSR Media Luncheon in Abuja, also noted that the Office continued to benefit from and maintain strong collaboration with various local and international partners through its open door policy in view to improve reform in the Nigerian Civil Service.

“This includes Accountability Lab, Konrad Adenauer Stiftung (KAS), UN, World Bank, WHO, Foreign Commonwealth & Development Office (FCDO) ACCA, Africa Initiative for Governance (AIG), Right to Know (R2K) and many reputable NGOs such as GLOCHEED, Nigeria Internet Registration Association (NIRA), which has always fulfilled the various mandates of the office, ”he said.

The BPSR coxswain said the agency had created a forum for reform coordination directors from ministries, departments and government agencies to actively exchange ideas and share experiences on reform issues. and the operations of the RC and SI departments.

He added that BPSR won the FOI Best Practice Award from Public Institutions, for being the most responsive government organization to requests for information from members of the public under the FOI Act and for having adopted innovative and user-friendly practices and procedures to guarantee the right of public access. information in Nigeria.


Source link

]]>
Cedric Stephens | Charter of the FSC Board of Directors | Business https://upbeetcommunications.com/cedric-stephens-charter-of-the-fsc-board-of-directors-business/ Sun, 26 Dec 2021 05:13:06 +0000 https://upbeetcommunications.com/cedric-stephens-charter-of-the-fsc-board-of-directors-business/ December 29 will mark eight months since the island’s non-bank financial services regulator, the Financial Services Commission, FSC, presented without fanfare its 20-page board charter. A copy of this document, signed by the chairman, is posted on the committee’s website. A charter is a document that was originally issued by a sovereign – a king […]]]>

December 29 will mark eight months since the island’s non-bank financial services regulator, the Financial Services Commission, FSC, presented without fanfare its 20-page board charter. A copy of this document, signed by the chairman, is posted on the committee’s website.

A charter is a document that was originally issued by a sovereign – a king or queen – or a state, or, in the case of the FSC, an institution. It specifies the organizational conditions of the entity, its mission or its purpose, the way in which it will exercise its functions, defines its rights and privileges and details the behavior of the directors. The University of the Antilles is an example of an institution constituted and governed by a charter. The FSC, on the other hand, was established by an act of Parliament. He oversees the securities, private pensions and insurance sectors.

With the opposition’s agreement, the government passed a series of regulations governing the appointment, selection and appointment of people to boards of public institutions earlier this month. These measures were adopted in the wake of sustained criticism of governance in public bodies and, some would argue, questionable actions on the part of some boards.

The FSC Board of Directors and its leaders are to be warmly congratulated. Its board charter is a comprehensive manual that can serve as a model for institutionalizing a culture of governance to replace those that currently exist in the public and private sectors. I have served on the board of directors of several private sector companies, including five in the insurance sector. None had a board charter. Not once during my tenure have my more senior manager colleagues discussed any of the 22 elements incorporated into the FSC document. The focus was exclusively on the bottom line.

In the case of appointments to public sector boards, word of mouth suggests that the main consideration, before December 10, 2021, was, “Is he (or she) one of us?” “

By posting its board charter on its website, the FSC appears to suggest to insurers and intermediaries that Articles 3 and 11 (e) of the Insurance Act – which state that “each of the persons who direct or control the business is a fit and appropriate person. to manage or control such a business ”- is inadequate for the 21st century. These institutions should be animated and directed by people within the boards of directors and the direction of the companies having the required competences and within the framework of written charters.

The charter of the FSC Board of Directors incorporates the provisions of the Law on the Financial Services Commission, the Law on the Management and Accountability of Public Bodies and the Corporate Governance Framework for Public Bodies.

The regulator’s February 2019 market conduct guidelines appear to have erroneously assumed that insurers and intermediaries endorse the idea of ​​charters and that their boards have followed the regulator’s lead.

While photographs of the directors were posted on the insurers’ websites, nothing aligned with the charter of the FSC board of directors or explained what principles guided the operations of those boards. In addition, the regulator has enacted a rule according to which “insurers and intermediaries must draw up charters, defining the standards of service to be provided to their policyholders and that a system must be implemented to regularly monitor the quality of the service provided. by members of their staff ”.

According to my information, nothing similar has been done.

Registered insurance entities are also mandated to maintain appropriate and up-to-date employee training policies, procedures and manuals which are approved by the board of directors. I have seen nothing to suggest that three years after the introduction of this rule, insurers and intermediaries were complying with it.

The FSC has set an excellent example in disseminating its board charter that insurance companies and other entities should emulate. The charter deals with governance, strategic direction and accountability. Governance is the framework of rules, relationships, systems and processes within the commission that guide how decisions are made.

Accountability is the result, positive or negative, of the actions of the commission. The clarity with which the institution’s board of directors articulated its mission eight months ago bodes well for the future of the institution and consumers.

Perhaps the regulator’s future actions will help reduce the stress-inducing service culture I wrote about two weeks ago.

Cedric E. Stephens provides independent information and advice on risk management and insurance. For free information or advice, write to: aegis@flowja.com or business@gleanerjm.com.


Source link

]]>
Michael Murphy of Ervin Cohen & Jessup named one of Los Angeles Business Journal’s “Influential Leaders: Thrive in Their 40s” https://upbeetcommunications.com/michael-murphy-of-ervin-cohen-jessup-named-one-of-los-angeles-business-journals-influential-leaders-thrive-in-their-40s/ Thu, 23 Dec 2021 18:30:00 +0000 https://upbeetcommunications.com/michael-murphy-of-ervin-cohen-jessup-named-one-of-los-angeles-business-journals-influential-leaders-thrive-in-their-40s/ LOS ANGELES, 23 December 2021 / PRNewswire / – The Los Angeles Business Journal today published its list of “Leaders of Influence: Thriving in their 40’s” naming Ervin Cohen & Jessup Partner Michael murphy. the NewspaperEditor’s and CEO’s claims the feature highlights top professionals in Los Angeles who “are demonstrating success within businesses and across […]]]>

LOS ANGELES, 23 December 2021 / PRNewswire / – The Los Angeles Business Journal today published its list of “Leaders of Influence: Thriving in their 40’s” naming Ervin Cohen & Jessup Partner Michael murphy. the NewspaperEditor’s and CEO’s claims the feature highlights top professionals in Los Angeles who “are demonstrating success within businesses and across their communities.”

“Michael is a savvy litigator and trial lawyer who continually demonstrates his ability to provide the firm’s clients with the highest level of strategy and service,” said the associate co-director. Randall Leff.

Murphy, a partner in the firm’s litigation department, has been recognized for his work on matters involving corporate governance litigation, fiduciary breaches, fraud, real estate, libel, anti -SLAPP and trademark litigation. Murphy represents clients in a variety of industries including real estate development, cannabis and gaming (including litigation and regulation of both), venture capital, software development, outdoor advertising, printing, food and beverage, franchise and corporate participants in the business market (including, most recently, disputes arising from PPE supply chain issues during the pandemic).

Murphy has a deep commitment to his community, which involves broad participation in nonprofit governance, fundraising, and board. He regularly serves on nonprofit boards, including his eight years of service as Chairman of the Board of Being Alive, Los Angeles, a non-profit organization providing psychological care and other wellness services to people living with HIV living below the poverty line. He is active in the homeless service community, having raised $ 10,000 for Chrysalis as part of its participation in Ironman Arizona 2021.

After graduating from UC Berkeley School of Law, Murphy served as law clerk to the Honorable Ronald Lee Gilman, of United States Sixth Circuit Court of Appeal.

Ervin Cohen & Jessup LLP is a full-service firm that provides a wide range of business-related legal services, including corporate law; litigation; intellectual property and technology law; real estate transactions, land use and financing; construction and environmental law; tax planning and controversies; labor law; health law; bankruptcy, receivership and reorganization; and estate planning. For more information visit http://www.ecjlaw.com/

THE SOURCE Ervin Cohen & Jessup LLP


Source link

]]>
FINANCIAL REPORTING OF THE DOVRE GROUP IN 2022 https://upbeetcommunications.com/financial-reporting-of-the-dovre-group-in-2022/ Tue, 21 Dec 2021 15:30:00 +0000 https://upbeetcommunications.com/financial-reporting-of-the-dovre-group-in-2022/ Press release from Dovre Group Plc on December 21, 2021 at 5.30 p.m. FINANCIAL REPORTING OF THE DOVRE GROUP IN 2022 Dovre Group Plc publishes its financial statements for the period January 1 to December 31, 2021 on Thursday February 24, 2022. The 2021 Annual Report, which includes the financial statements of the company, the […]]]>

Press release from Dovre Group Plc on December 21, 2021 at 5.30 p.m.

FINANCIAL REPORTING OF THE DOVRE GROUP IN 2022

Dovre Group Plc publishes its financial statements for the period January 1 to December 31, 2021 on Thursday February 24, 2022. The 2021 Annual Report, which includes the financial statements of the company, the report of the board of directors, the corporate governance statement company and the compensation report, will be posted online in week 11.

The Dovre group publishes its financial reports in 2022 as follows:

  • Commercial declaration for the first quarter from January 1 to March 31, 2022, Thursday April 28, 2022
  • Half-year financial report from January 1 to June 30, 2022 on Thursday August 18, 2022
  • Third Quarter Trading Report from January 1 to September 30, 2022 on Wednesday October 26, 2022

The annual general meeting of the company is scheduled for Wednesday March 30, 2022. The board of directors of the Dovre group will convene the meeting at a later date.

Dovre Group Plc observes a three week period of silence prior to the release of the aforementioned financial reports. The company does not comment on changes in its financial condition and does not meet with financial analysts or other members of the investment community during this period.

The financial information of the Dovre group is published in the form of stock market reports in Finnish and English and is available online at www.dovregroup.com.

For more information, please contact:

GROUPE DOVRE SA
Sirpa Haavisto
CFO
Phone. +358 20 436 2000
sirpa.haavisto@dovregroup.com

Dovre Group is a global provider of project managementnt services. Dovre Group a threesome fields of activity: Person ProjectI, Consultant and renewable energies. Dovre Group has offithese in Canada, Finland, Norway, Russia, in Singapore and the United States, and employs more … than 900 people around the world. Dovre Group is listed on Nasdaq Helsinki (symbol: DOV1V). Company Website www.dovregroup.com.

DISTRIBUTION:
Nasdaq Helsinki
Main media
www.dovregroup.com


Source link

]]>
Company secretaries should embrace the “culture of speaking”; Keep an eye out for Co’S Group Biz Too: Deepak Parekh https://upbeetcommunications.com/company-secretaries-should-embrace-the-culture-of-speaking-keep-an-eye-out-for-cos-group-biz-too-deepak-parekh/ Sun, 19 Dec 2021 09:41:00 +0000 https://upbeetcommunications.com/company-secretaries-should-embrace-the-culture-of-speaking-keep-an-eye-out-for-cos-group-biz-too-deepak-parekh/ Advocating the need for strong corporate governance practices, renowned banker Deepak Parekh urged corporate secretaries to embrace the “culture of speech” as well as differentiate data and information to enable members of the board. board of directors to act constructively on developments. The judgment of company secretaries is sacrosanct and they are the bridge between […]]]>

Advocating the need for strong corporate governance practices, renowned banker Deepak Parekh urged corporate secretaries to embrace the “culture of speech” as well as differentiate data and information to enable members of the board. board of directors to act constructively on developments. The judgment of company secretaries is sacrosanct and they are the bridge between understanding the expectations of the regulator and the actual functioning of the board, said Parekh, chairman of HDFC.

Amid the cases of corporate wrongdoing that have come to light in recent times, Parekh, who was also a key person in leading the revival of Satyam Computer Services, then a victim of fraud in 2008, said that in generally, the top listed parent company gets all the attention and compliances tend to be in good order. “But invariably, it’s the myriad of smaller, unlisted subsidiaries and associates that tend to be less scrutinized and that’s where the weak spots lie. Unethical practices, out of sight. audience, usually occur at these levels. Real regulatory gaps also occur at these levels. So take a deep and holistic look at your group structure. “… your overall compliance is only as good as your link. the weakest, ”he noted.

Speaking at the 21st ICSI National Awards for Excellence in Corporate Governance on Saturday, Parekh stressed the clarity of communication with the board. “It’s easy to dump huge volumes of files and data and think you’ve ticked the compliance box. Recognize the difference between data and information that can empower board members to take action or react constructively and proactively, “he noted.

Urging company secretaries to embrace a “culture of the talk”, Parekh said “doing what the board or management want” is perhaps the worst trait to have as a company secretary . “You are aware of a lot of discussions and it is your responsibility to lay it out in black and white if you feel the picture is going wrong. The vision is always 20/20 in hindsight. Hold on. Yes, that is. is always easier to say than But don’t forget that speaking is also watching the backs of your management and independent directors, ”he stressed.

Without mentioning specific cases, Parekh, a well-respected business leader, said that in the banking sector in particular, there has been repeatedly assurance that there will be no exceeding of the 3Cs – the CBI, CVC and CAG and yet “loopholes in the law continue to hold innocent people to ransom”. If internal governance structures are strong, key leadership incentives are reasonable and companies are responsive to their stakeholders, Parekh said, then they are less likely to find themselves in murky waters with shareholder activism.

“Yet boards of directors and companies can be susceptible to irrational or disruptive activism,” he said.


Source link

]]>
Fosun International wins the “Gold Award” at the Asset ESG Corporate Awards 2021 https://upbeetcommunications.com/fosun-international-wins-the-gold-award-at-the-asset-esg-corporate-awards-2021/ Fri, 17 Dec 2021 08:32:00 +0000 https://upbeetcommunications.com/fosun-international-wins-the-gold-award-at-the-asset-esg-corporate-awards-2021/ HONG KONG, December 17, 2021 / PRNewswire / – Enabled December 17, 2021, Fosun International Limited (“Fosun” or the “Company”) (HKEX: 00656) has been advised by The trump, the renowned international magazine for asset management and investment, that Fosun won the “Gold Award” at the Asset ESG Corporate Awards 2021. Organized by The trump, a […]]]>

HONG KONG, December 17, 2021 / PRNewswire / – Enabled December 17, 2021, Fosun International Limited (“Fosun” or the “Company”) (HKEX: 00656) has been advised by The trump, the renowned international magazine for asset management and investment, that Fosun won the “Gold Award” at the Asset ESG Corporate Awards 2021.

Organized by The trump, a renowned Asian financial magazine, The Asset Corporate Awards is one of the world’s largest and longest-running ESG awards. This year, Fosun International received the “Gold Award” at the Asset ESG Corporate Awards 2021, reflecting the magazine’s recognition of Fosun’s outstanding performance in various fields including financial performance, management, corporate governance, corporate responsibility. social and environmental, investor relations, information disclosure and corporate communication. Other Gold Award recipients include the Agricultural Bank of China, China Communications Services, China Overseas Land and Investment, China Telecom, COSCO Shipping Ports, Guotai Junan, sino land, etc.

In recent years, global investors and stakeholders have placed increasing importance on the environmental, social and governance (ESG) performance of companies. Fosun International has continued to promote the development of ESG and achieved impressive results. Its MSCI ESG rating was A and the Hang Seng sustainability rating was A. Fosun International was selected as a constituent stock of the Hang Seng ESG 50 index (the top 50 large and mid caps) and it was included in as a constituent stock of the Hang Seng Corporate Sustainability Benchmark Index for two consecutive years. Its FTSE Russell ESG rating and S&P Global ESG scores for 2020 have improved significantly, which is above the average rating of its global peers. These achievements are approvals of Fosun International’s level of ESG governance, risk management, social responsibility and information disclosure, as well as affirmations of its long-term investment value.

In addition to the approval of Fosun International by rating agencies, the investment market also highly recognizes the ESG performance of Fosun International. In October 2021, CLSA published the first in-depth ESG research report on Fosun International. The report pointed out that Fosun’s ESG mission is clear: to actively respond to the growing demand for corporate sustainability. Fosun has a strong structure and policy to ensure the company’s alignment with ESG objectives.

As a globalized company rooted in China, Fosun takes initiatives to create business value and places high priority on corporate social responsibility. Along with its initial aspiration to “self-improvement, teamwork, performance and contribution to society”, Fosun actively contributes to society through philanthropic activities such as supporting the fight against the pandemic , the fight against malaria by Africa, flood control and disaster relief, rural doctors, etc.

Fosun, who is about to enter “30 years of establishment”, will defend the principles of “Multiplying growth, co-entrepreneurship and contribution to society” to lead the governance and development of the company. It will take on more social responsibilities by focusing on ESG aspects, constantly creating value and giving back to society, thus helping to promote high-quality development and shared prosperity. With the global trend of promoting carbon neutrality, reducing carbon emissions and sustainable development of the earth, Fosun will continue to actively cooperate with its member companies to improve ESG strategies and implementation, especially in the areas of carbon neutrality, peak carbon, protection of biodiversity, energy savings and reduction of consumption, and actively promote the sustainable development of the Group.

About the Asset Corporate Awards

Organized by The trump, a renowned Asian financial magazine, The Asset Corporate Awards is one of the world’s largest and longest-standing awards. The selection committee, made up of investors and professional analysts, assesses the overall performance, including financial performance, corporate governance, social and environmental responsibility, information disclosure and corporate communication of companies listed in the Asia Pacific region through online questionnaires submitted by participating companies, then obtaining feedback from the investor and analyst community through interviews, to select and award winning companies based on the overall score. It has a strong influence on Asia and international capital markets.

About Fosun

Fosun was founded in 1992. Fosun’s mission is to provide high quality products and services to families all over the world in the fields of health, happiness, wealth and smart manufacturing. Fosun International Limited is an innovation-driven global consumer group that has been listed on the Main Board of the Hong Kong Stock Exchange (stock code: 00656.HK) since 2007, with total assets of 778.9 billion RMB (vs. US $ 120.6 billion) from the June 30, 2021. Fosun International ranks # 459 on the Forbes Global 2000 2021 list.

SOURCE Fosun

Related links

https://www.fosun.com/


Source link

]]>
Financial expert cites challenges in finding finance to mitigate climate change https://upbeetcommunications.com/financial-expert-cites-challenges-in-finding-finance-to-mitigate-climate-change/ Wed, 15 Dec 2021 08:26:00 +0000 https://upbeetcommunications.com/financial-expert-cites-challenges-in-finding-finance-to-mitigate-climate-change/ By Makeida Antonio [email protected] Funding for climate resilience has been a challenge for Antigua and Barbuda, as the small twin island state is considered a high-income territory, according to a financial specialist. Debt manager at the Department of Finance and Corporate Governance Nadia Spencer-Henry said that although the country is a small island developing state […]]]>

By Makeida Antonio

[email protected]

Funding for climate resilience has been a challenge for Antigua and Barbuda, as the small twin island state is considered a high-income territory, according to a financial specialist.

Debt manager at the Department of Finance and Corporate Governance Nadia Spencer-Henry said that although the country is a small island developing state (SIDS), it is viewed by lenders as a country of “High income”.

“One of the challenges we have is accessing what we call concessional financing and that is, most of our debt is borrowed on commercial terms.

“We’re talking about 5% to 10% debt, which is where we usually borrow, even when we borrow from multilateral development banks like the CBD. [Caribbean Development Bank] or the World Bank, ”Spencer-Henry told Observer AM yesterday.

It was recently announced that the country will receive a US $ 46.2 million grant from the Green Climate Fund (GCF) that will go towards building structures capable of withstanding extreme weather events such as hurricanes. .

The government debt manager also said that historically, finding loans to mitigate disasters can be difficult as the country has a history of borrowing and this has implications for accessing new finance.

“Having to borrow over several years also puts our debt at a particularly high level and our debt service at a high level as well. We have debt both on the side of the type of debt we can access and the amount we need to access to tackle climate change and disaster-related events, ”she said.

Spencer-Henry explained that while Prime Minister Gaston Browne – who is also Minister of Corporate Governance – lamented that the country was labeled high income at several high-level international meetings, monetary organizations tend to compare and to contrast countries on the basis of their gross domestic income. product (GDP).

“The issues vary from country to country, but because multilateral organizations sometimes represent more than 200 countries in the world, or more than 180 depending on the organization, they need to consider what each country can access and if reducing access for one country places another country at an unfair advantage. . It all has to be managed, ”she said.

In the meantime, a brief update regarding Antigua and Barbuda’s debt-to-GDP ratio has been given. Spencer-Henry said the government has tried as much as possible to continue borrowing at the same level as before the Covid-19 pandemic.

“Before Covid we would have been in the region with just over 17% debt to GDP and you would realize we wouldn’t have had to borrow so much because we had good economic growth, income were performing well and during the Covid period we tried as much as possible to keep the debt from skyrocketing, ”she added.


Source link

]]>