The Parliamentary Joint Committee on Corporations and Financial Services will inquire into Corporate Responsibility and Triple-Bottom-Line reporting, for incorporated entities in Australia, with particular reference to:

The extent to which organisational decision-makers have an existing regard for the interests of stakeholders other than shareholders, and the broader community.

The extent to which organisational decision-makers should have regard for the interests of
stakeholders other than shareholders, and the broader community.

The extent to which the current legal framework governing directors’ duties encourages or discourages them from having regard for the interests stakeholders other than shareholders, and the broader
community.

Whether revisions to the legal framework, particularly to the Corporations Act, are required to enable or encourage incorporated entities or directors to have regard for the interests of stakeholders other than shareholders, and the broader community. In considering this matter, the Committee will also have regard to obligations that exist in laws other than the Corporations Act.

Any alternative mechanisms, including voluntary measures that may enhance consideration of stakeholder interests by incorporated entities and/or their directors.

The appropriateness of reporting requirements associated with these issues.

Whether regulatory, legislative or other policy approaches in other countries could be adopted or adapted for Australia.

In inquiring into these matters, the Committee will consider both for profit and not-for-profit incorporated entities under the Corporations Act. It will report on 29 November.

About corporate social responsibility.