The UK government this week (18-22 October 2021) sent the strongest signals yet that stewardship and informed voting plays a central role in the investment process. On Monday, HM Treasury laid out its roadmap for sustainable finance, while on Thursday, the Department of Work and Pensions launched its proposals to empower pension trustees with new rights which will empower them to ownership of the stewardship of their assets.
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A government taskforce led by HM Treasury has outlined a series of far-reaching recommendations designed to put stewardship at the heart of the UK’s commitment to ‘build back better’ post-coronavirus. Twenty proposals across three themes are designed to help investment managers and asset owners expand their stewardship activity across different asset classes, including bonds, and […]
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As the COVID19 lock-down continues, the UK’s Department for Business, Enterprise and Industrial Strategy has announced its intention to publish new regulations enabling companies to hold alternative AGMs for 2020. Speaking on Saturday, 28 March 2020, Secretary of State Alok Sharma, said that BEIS intends to introduce measures which will allow companies to hold AGMs […]
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TCFD is set to get a boost after the FCA issued new rules requiring TCFD-compliant climate disclosures.
Read MoreShareholders pay the price for corruption Minerva marks International Anti-Corruption Day with new research and voting guidelines News of Glencore’s 7% share price slump after the UK’s Serious Fraud Office confirmed investigations into “suspected bribery” across the Group’s operations was a timely reminder that governance issues reach beyond the familiar and routine AGM shareholder resolutions on […]
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IFRS: Climate-related disclosures Guest post by Paul Lee November’s newsletter from the global accounting regulator, the International Accounting Standards Board (IASB) is big news, and is a big step towards accounting that is consistent with the Paris Agreement. The paper by Nick Anderson, IASB board member and former fund manager and head of research at […]
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The Financial Stability Board's recommendations on climate-related governance have moved a step closer to becoming statutory guidance after the Pensions Regulator, TPR, announced the formation of an industry working group to create best practice guidance for pension funds. The Pensions Climate Risk Industry Group (PCRIG) will draft guidance for trustees on climate risk using recommendations [...]
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Exec Pay – The Invisible Drag on Innovation CEO remuneration packages actively discourage innovation in UK’s top companies, new Nesta analysis finds The way most big businesses reward their Chief Executives and other senior staff is inhibiting innovation and research and development, and encouraging short-term gains over long-term investment, according to a study of the […]
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Pension fund readiness for new climate rules under question The UK’s pension watchdog, The Pensions Regulator, has uncovered a disturbing lack of readiness for the DWP’s upcoming ESG regulations. In a survey of the 100 largest schemes, 80% were found to have not taken steps to integrate climate change issues in their investment strategy statement. […]
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Canada issues climate disclosure guidance The Canadian Securities Administrators (CSA) has become the latest securities regulator to step forward with guidance for quoted companies on climate change risk disclosures. CSA Staff Notice 51-358 Reporting of Climate Change-related Risks is intended to assist companies in identifying and improving their disclosure of material climate change risks. The notice […]
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