Professor Thomas Clarke, a UTS specialist in corporate governance, has been awarded the inaugural Sir Adrian Cadbury Scholarship by the International Corporate Governance Network (ICGN).
Sir Adrian Cadbury was a global pioneer in corporate governance who drafted the first corporate governance code for the London Stock Exchange. This influenced over 100 countries around the world to adopt similar codes.
As CEO and later Chair of Cadbury-Schweppes, he was one of the UK's leading industrialists and Chancellor of Aston University. He passed away last year.
"For five generations from the early 19th century, his family introduced enlightened employment standards into their business," Professor Clarke says. "This included holidays, pensions and education for all employees.
"Cadbury led the debate internationally on how to attain more robust standards of corporate governance. So it's a great honour to be recognised with an award in his name."
Cadbury launched the UTS Centre for Corporate Governance in Sydney and wrote the foreword to three of Professor Clarke's books on international corporate governance.
The International Corporate Governance Network is composed of institutional investors including superannuation funds, insurance funds and mutual funds representing $US12 trillion of investors funds.
It is committed to the development of environmental, social and governance (ESG) criteria in the allocation of investment funds and continues the effort internationally to raise corporate governance standards.
As the inaugural Sir Adrian Cadbury Scholar, Professor Clarke will work with the ICGN in pursuit of this research agenda.
"There is a changing landscape for the definition and practice of fiduciary duty, where risk, strategy and investment are closely calibrated with social and environmental responsibility," he says. "That resonates with Adrian Cadbury's lifelong beliefs."