(00:00:01) Podcast Clip of
IS IT GOOD? AI regs in Cali, EU -37% carbon +60% GDP, white dudes are winning board seats
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TECH STUFF
California’s Gavin Newsom Signs Major AI Safety Law
The Transparency in Frontier Artificial Intelligence Act, or S.B. 53, requires the most advanced A.I. companies to report safety protocols used in building their technologies and forces the companies to report the greatest risks posed by their technologies.
The bill also strengthens whistle-blower protections for employees who warn the public about potential dangers the technology poses.
Could a chatbot replace your best friend at work?
According to a new study from KPMG that surveyed more than 1,000 professionals, almost all (99%) would be open to the idea of an AI chatbot assuming the role of close friend or trusted companion at work.
That same study teases out a separate, also compelling thread: 45% of workers reported feelings of loneliness at work.
Elon Musk hit by exodus of senior staff over burnout and politics
Key members of Tesla’s US sales team, battery and power-train operations, public affairs arm, and its chief information officer have all recently departed, as well as core members of the Optimus robot and AI teams on which Musk has bet the future of the company.
CLIMATE STUFF
The EU adopted a Climate Law in 2021, setting into legislation a goal to reach climate neutrality by 2050. In addition to the 2050 goal, the law also set a binding EU climate goal to reduce net GHG by at least 55% by 2030 compared to 1990.
More recently, the EU has committed to set a new 2035 GHG emissions reduction goal to reduce greenhouse gas emissions by between 66.25% to 72.5%, and the European Commission has proposed a new target, currently being debated by lawmakers, to reduce emissions by 90% by 2040.
The new report indicated strong progress towards the EU’s interim climate goal, with GHG emissions falling by 37% since 1990, despite 60% GDP growth over the same period, and with the pace of annual emissions reductions in the EU doubling since 2005.
The report cites significant shifts in the energy mix in Europe as a key source of the EU’s emission reduction progress, with the share of renewable energy sources doubling since 2005, and almost a quarter of final energy use in 2023 coming from renewable sources, 45% of all electricity used in the EU now generated by renewables, while fossil fuel use, and coal in particular, has declined.
Maine wins early victory in climate lawsuit against oil companies
A federal judge has sided with the state of Maine in its effort to force oil and gas companies to pay for the costs of dealing with climate change.
Judge Nancy Torresen of the U.S. District Court for the District of Maine on Monday granted the state’s motion to transfer its case against 14 fossil fuel companies out of federal court and back to the state court where it was originally filed.
She also granted Maine’s request to recover costs and fees.
Trump’s hostile attitude is making investors more favourable to ESG
Instead of seeing a continued decline in sentiment towards ESG, there were more favourable signals this year, especially from younger investors and parents. In fact, some said President Donald Trump‘s hostile attitude to ESG has actually made 20% of private investors more positive about funds. Only 8% of investors said they were now less favourable to ESG as a result of Trump’s approach.
Overall, 53% of respondents said they now take ESG factors into account when investing, up from 48% last year.
STAKEHOLDER STUFF
Starbucks is offering up to 26 weeks of severance for store managers at closing cafés
According to the document titled "Severance Summary," shift managers are eligible to receive 120 hours of their hourly pay.
Assistant store managers will get "240 hours + 40 hours for each year of completed service (up to combined total weeks of 1,040 hours)," the document states.
Coffeehouse leaders will receive at least six weeks of pay, plus additional amounts based on job level and years working for the company. For example, overtime exempt coffeehouse leaders will get eight weeks' base severance, plus one week for every completed year of service, up to a maximum of 26 weeks.
GOVERNANCE STUFF
How good is this at telling the CEO Pay story? Ranked: The Hourly Wage of Retail CEOs
Starbucks Brian Niccol $95,801,676|$46,058; Walmart Doug McMillon $27,408,854|$13,177; Gap Richard Dickson $9,340; Chipotle Mexican Grill Scott Boatwright $9,201; McDonald's Christopher Kempczinski $8,748
How good was Business Pants at predicting this? White Men Make a Comeback in America’s Boardrooms
Some 55% of the more than 440 new directors appointed to S&P 500 boards through Sept. 24 of this year were White men, ISS-Corporate found.
Women won about a third of board seats, down from a peak of 44% of new seats in 2022.
Non-White directors made up 20% of board hires, down from 44% in 2021.
Emphasis on appointing CEOs.
Defense Secretary Pete Hegseth outlined new rules for the “highest male standard” for fitness in combat roles: “If that means no women qualify for some combat jobs, so be it.”
Qantas cutting CEO pay signals new era of cyber accountability
In early September, the board of Australia-based Qantas Airways voted to penalize CEO Vanessa Hudson and other top executives for a June 30 cyber incident that exposed the personally identifiable information of nearly 6 million passengers, deducting A$800,000 (US$522,000) from their bonuses.
The last time it became publicly known that a board withheld compensation from a CEO for a cybersecurity breach was in 2017, when Yahoo’s board denied CEO Marissa Mayer her $2 million bonus over the mishandling of multiple breaches that exposed the personal information of more than 1 billion users.
Qantas tightens reputation metrics after increasing CEO salary
About 20 per cent of Hudson’s long-term bonus between 2026 and 2028 will be based on Qantas’ reputation, which is measured externally by market research firm The RepTrak Company on a scale between 0 and 100.
SPEED ROUND STUFF
Gold miner Newmont names Natascha Viljoen its first female CEO
Why Lyft CEO David Risher still drives customers once a month
Costco CFO promises the hot dog and drink combo will never cost more than $1.50
How good is the headline?: 58 million pounds of corn dogs and sausages may contain something you really don’t want to eat
