RESEARCH REPORTS

This report aims to increase the Australian business community’s understanding of modern slavery risks in their operations and supply chains, and to help prepare businesses to meet new regulatory requirements for transparent public disclosure.

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ACSI’s 17th annual survey of chief executive remuneration in ASX200 companies reveals that CEO pay is on the rise, with average realised pay outcomes reaching their highest level in four years. This uplift correlates with strong equity market performance.

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This report assesses the level of sustainability disclosure by ASX200 companies for the 2017 reporting period. It is the 11th annual sustainability disclosure review ACSI has undertaken.

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This research compares codes of conduct and whistleblowing systems of ASX200 companies and identifies gaps in their coverage and content.

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This report examines the framework for shareholder resolutions in Australia and overseas. We recommend the introduction of a non-binding shareholder resolution to give investors a greater voice when a company is resisting change.

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In our 16th annual CEO Pay survey, we found that average fixed pay for ASX100 CEOs is the same as it was nine years ago, as investor pressure prompts company boards to exercise restraint. However, the persistence of bonus payments remains a concern for investors. 

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This report assesses the level of sustainability disclosure by ASX200 companies for the 2016 reporting period. It is the 10th annual sustainability disclosure review ACSI has undertaken. Given the prominence of climate-related risks for investors, this year’s study includes for the first time a review of climate-related disclosures.

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ACSI Annual Survey of S&P/ASX200 Board Composition and Non-executive Director Remuneration. This is ACSI’s 15th study into the composition of S&P/ASX100 (ASX100) company boards, and the fifth year it has also covered the S&P/ASX200 (ASX200).

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This survey, now in its 15th edition, finds that fixed pay for CEOs in Australia's top companies is at its lowest in nearly a decade.  Bonuses, however, especially in the ASX100, are strikingly persistent.  93% of the ASX100 sample CEOs were awarded a bonus for their year's work - more than at any time since 2008.

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This 9th edition of ACSI's annual review of corporate sustainability disclosure has found that 71 cents in every dollar invested in the ASX200 is now invested in companies shown as reporting on ESG to a ‘leading’ standard. 90% of ASX200 companies provided some level of reporting on sustainability factors in their 2015 public disclosures, and the amount of 'leading' reporters has tripled since 2009. ACSI carries out this yearly review because we believe that environmental and social sustainability risks have material effects on the long-term performance of companies. Therefore, thorough disclosure of company performance on sustainability risks is integral to investors being able to make quality investment decisions.

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Australia has one of the most carbon intensive economies among developed countries, and domestic superannuation funds are large owners of fossil fuel companies. Australian investors need to engage on climate resilience, capital spending and transition strategies for the energy system, in order to actively manage climate change related risk to their portfolios and protect the long-term value of their investments. 

This report addresses the question of how best to approach climate change challenges for superannuation investments and the tools investors have for addressing climate related issues and how these tools can best be applied.

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ACSI's 14th annual report into Board Composition and Non-Executive Pay finds that the slowly increasing diversity in Australian boardrooms is also bringing about generational change.

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This is ACSI’s 14th study of CEO pay in the S&P/ASX100 (ASX100), and the fourth year that ACSI has extended the study to encompass all of the S&P/ASX200 (ASX200). This study is the first to include Realised pay for all CEOs in the sample, providing a picture of the actual value received by those executives through their remuneration.

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Corporate Risks and Opportunities for Financials, Mining and Utilities Companies in the S&P/ASX200.

 

 

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ACSI’s sustainability research, now in its eighth year with this 2015 report, assesses the level of sustainability reporting among ASX200 companies - with the goal of promoting continuous improvement in reporting standards and practices across the market.

 

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This study provides an overview of the composition of S&P/ASX 100 and S&P/ASX 101–200 company boards, including director roles, independence, gender, remuneration, tenure, and age.

 

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The results of this year’s survey of CEO Pay among the S&P/ASX 200 cohort of Chief Executive Officers. Our findings demonstrate how continued investor scrutiny, and increased vigilance by company boards themselves, is resulting in significant positive impacts for shareholders. 

 

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ACSI’s sustainability research, now in its seventh year with this 2014 report, assesses the level of sustainability reporting among ASX200 companies - with the goal of promoting continuous improvement in reporting standards and practices across the market.

 
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This study analyses 63 underwritten rights issues conducted by S&P/ASX300 member companies between 2010 and 2012 and compares the amount they paid for underwriting against a benchmarkvalue.

 
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 This study provides an overview of the composition of  S&P/ASX 100 and S&P/ASX 101–200 company boards, including director roles, independence, gender, remuneration, tenure and age.

 

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The 2012 CEO Pay study again includes the pay of CEOs of all companies in the S&P/ASX 200. Throughout the report ACSI has divided the S&P/ASX200 into the ‘Top 100’ and ‘ASX 101-200’ (this second group includes all S&P/ASX200 ex S&P/ASX100 companies). 

 

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This paper provides insight into the sourcing trends and risk management disclosure levels of Consumer Staples and Consumer Discretionary companies in the S&P/ASX200.

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This is the sixth in a series of research papers considering the sustainability reporting practices of listed Australian companies. The first report, produced in June 2008, examined the sustainability reporting practices of ASX100 companies. The research was expanded to cover the ASX200 in 2009, and this year’s research again covers this index.

 

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The Australian Council of Superannuation Investors (ACSI) is very pleased to introduce Institutional Proxy Voting in Australia – a research report examining the inner workings, idiosyncrasies and anomalies of Australia’s proxy voting process for institutional investors.

 
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This year’s research shows a major improvement in gender diversity on Top 200 boards. In 2011, ACSI has seen the largest rise in female board representation in the Top 100 over the past 11 years, but there is clearly a very long way to go.

 

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The study covers a sample of all CEO’s of S&P/ASX200 companies as at 30 June 2011, with financial years ending in 2011 (so from 31 March to 31 December 2011). The 2011 ACSI CEO Pay study is the first year the study has been extended to include CEOs of all S&P/ASX200 companies and not just those in the S&P/ASX100.

 

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This report benchmarks the sustainability reporting practices of the ASX200 companies as at 31 March 2012. The study considers sustainability reporting for company reporting periods ended during the 2011 calendar year. The report is the fifth in a series and follows ACSI’s review of the sustainability reporting practices of the ASX100, released in June 2008 and the ASX200, released in June 2009, July 2010 and July 2011.

 

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This report reviews the current state of labour and human rights policies among large listed Australian companies. It quantifies the proportion of companies with relevant publicly disclosed policies, their alignment with global labour and human rights conventions, and the breadth of application of these policies across company operations. Companies that ignore their responsibilities to uphold labour and human rights standards are subject to a range of operational, legal and reputational risks that can impact costs, revenues and profitability, and ultimately affect returns to investors.

 

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The purpose of this paper is to analyse and interpret the results given for each Principle to assist ACSI’s PRI signatory members to assess their own results relative to the performance of other asset owners and encourage progress on implementation of the Principles.

 

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This research report benchmarks companies listed on the S&P/ASX 200 according to the labour and human rights (LHR) policies that they have established for their global supply chains. These benchmarks are designed to help investors compare how Australian companies manage LHR risk in light of policies common in other markets. 

 
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ACSI has commissioned this report through CAER - Corporate Analysis. Enhanced Responsibility. (CAER) to examine the current state of anti-corruption and bribery practices in Australia, with a focus on the ASX 200. It provides insight into the extent of exposure to corruption and bribery risk inherent in leading Australian companies and highlights the trends and gaps in current risk mitigation strategies.
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This research aims to capture the state of play of board and director evaluation processes both internationally and in Australia. This report provides a survey of processes of company board evaluation and explores their value in improving board performance. The survey examines the policy and practices of international corporations and a selection of Australian companies in the large listed sector.
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The Australian Council of Superannuation Investors (ACSI) and the Investment and Financial Services Association (IFSA) engaged Mercer to conduct this study to assess the extent to which Australian managers pursue ESG practices when investing in Australian equities.
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This research has been commissioned by the Australian Council of Superannuation Investors (ACSI) to assess the range of issues that flow from a trend toward public companies being privatised. The paper reviews existing academic literature, analyses recent Australian and international case studies, and applies finance theory to the specific questions raised when public companies are subject to bids intended to take them into private ownership.
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The study reviews executive appointments and departures at 50 of the largest ASX listed companies between the end of their 2003 and 2007 financial years. It identifies 230 confirmed departures by senior executives from the sample group between 2003 and 2007, and 333 confirmed appointments. Additional research was done to identify the reasons why executives left the sample companies, and from where newly appointed executives were recruited.
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