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May/June 2023 issue

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Corporate governance reform proposals supported by IOSH

Open-access content Thursday 13th April 2017
From the archive:  Just so you know, this article is more than 3 years old.

The Government has been urged to take note of the report. Image: PA Images

The Business, Energy and Industrial Strategy (BEIS) Select Committee has compiled a report into corporate governance failings. It comes in the wake of major failures at organisations including high-street retailers BHS and Sports Direct.

The report recognises the UK's generally strong system of corporate governance. But it says the pressure on companies to "deliver short-term financial gains for shareholders" means a series of reforms are required to ensure directors "take more seriously their duties to comply with the law and the Code relating to corporate governance".

These reforms include "more transparency, better reporting, more employee involvement and tougher enforcement".

The report also supports areas that IOSH recommended in its recent submission to the Corporate Governance Reform Green Paper.

Richard Jones, Head of Policy and Public Affairs at IOSH, said the Institution is encouraged to see the committee's views align with IOSH's recent OSH-related recommendations for improved corporate reporting, stronger stakeholder engagement, focus on board member training, a code for privately-held companies, and linking bonuses to broader corporate responsibilities, such as safety and health.

Richard said: "These proposed corporate governance reforms are important ways in which better leadership, effective occupational safety and health and more responsible business practice can be fostered and we urge the Government to give them serious consideration."

To view the full report and the recommendations, please click here.

You may also be interested in...

 IOSH to unveil new strategy at Middle East Conference

Thursday 13th April 2017
IOSH will present its new five-year strategy, charting how the profession can continue to progress up to 2022, at its annual Middle East Conference in Doha, Qatar on 27 April 2017. IOSH has chosen the Middle East as the launch-pad for this new strategy because of the region’s growth and increasing drive to cut workplace accidents and work-related illness.
Open-access content

 Latest ISO 45001 draft available for IOSH members

Tuesday 11th April 2017
The Institution has received the latest version of ISO 45001 – known as ISO 45001.2 – and has made it available to members, for consultation purposes only.The draft international standard has been edited by the ISO Secretariat and sent to all National Standards Bodies (NSBs) for translation. As ISO 45001.2 is already in English, BSI (the UK NSB) has provided a copy early.
Open-access content

 Human rights report is “important call for action”

Tuesday 18th April 2017
The UK’s Joint Select Committee on Human Rights has published its report, called ‘Human Rights and Business 2017: Promoting responsibility and ensuring accountability’. The report comes after an inquiry by the committee, to consider the progress made by the UK Government in implementing the United Nations Guiding Principles on Business and Human Rights. It includes a raft of key recommendations, a number of which IOSH has also called for previously.
Open-access content

 100 leading businesses pledge to prevent occupational cancer

Monday 3rd April 2017
Launched in November 2014, IOSH’s No Time to Lose campaign is raising awareness of occupational cancer around the world and helping businesses take action and protect their workforces by providing free, practical resources.Wills Bros Civil Engineering Ltd is the 100th organisation to commit to the No Time to Lose pledge, a six-step plan to capture key actions each organisation is planning to take or already taking to manage carcinogenic exposures in the workplace.
Open-access content

 IOSH roadshow event aids business leaders on management standards

Friday 31st March 2017
With the publication of ISO 45001 still several months away, Kristian Glaesel, Convenor of the committee responsible for drawing it up, said the draft standard provides information about the forthcoming requirements and will be available to view shortly.Speaking at the ISO Masterclass Roadshow in Coventry, he said: “The framework of ISO 45001 follows the new harmonised structure, Annex SL. So, organisations can use this to start preparing.”
Open-access content

 Arabic-language health and safety training products launched by IOSH

Tuesday 2nd May 2017
IOSH is making Managing Safely and Working Safely available in a non-English language after feedback from its network of training providers in the region.Announcing the move at IOSH’s Middle East Conference, in Doha, IOSH Training and Skills executive director Richard Orton said the Arabic-language versions could be applied to any industry sector and were now available to order.
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