Sustainable Stewardship

Significant challenges exist for asset stewards in terms of assessing whether pertinent ESG factors have been identified and integrated into the investment process of their asset managers, according to Niall O’Shea from Discern Sustainability. At Minerva’s recent ESG Educational Event in London, Niall explored the topic of the growth of ESG and Climate Change factor […]

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BlackRock step up on climate change

One of the biggest shareholders in the oil and gas industries has stepped up its efforts on environmental issues, with its chief executive calling on companies to do more to combat climate change.   Last week, BlackRock, the world’s largest asset manager, joined influential climate change investor group, Climate Action 100+. The organisation, which represents […]

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U.S. Chamber of Commerce CEO Thomas Donohue

The CEO of business lobbying giant, the US Chamber of Commerce, has delivered a surprise speech calling for bipartisan action on a number of issues – including climate change. In a clear departure from its traditional pro-Republican stance, the Chamber’s CEO Tom Donahue urged all political sides to come together to push through 35 bipartisan […]

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FRC

Can the FRC rescue its reputation? It has become one of the most disparaged – and lampooned – regulatory institutions of this century. The Financial Reporting Council’s (FRC) oversight of the audit profession has been dubbed everything from ramshackle to timid, to lacking in any real pace or direction. The poor auditing practices of the […]

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Sustainable Stewardship Snippet 2

Climate change is a significant risk and all Pension Scheme Trustees now need to give it specific attention, according to The Pensions Regulator. At Minerva’s Autumn ESG Education Event in London, Melanie Jarman, Policy Analyst – ESG Issues at TPR, updated attendees on recent legislative changes in the UK that affect pension schemes. These changes […]

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Barclays

Major investors demand change at Barclays A group of investors has filed a landmark shareholder resolution with banking giant Barclays over its financing of fossil fuel intensive companies. Eleven major institutional investors, including Brunel Pension Partnership and LGPS Central, together with more than 100 shareholders, have urged Barclays to phase out its financing of fossil […]

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SEC

Shortcomings in SEC proposals exposed Minerva Analytics has written a no-holds-barred letter to the US Securities and Exchange Commission (SEC) stressing several major issues with the regulator’s proposed proxy adviser rules. The letter, penned by Minerva CEO Sarah Wilson, makes clear that the rule amendments would have “significant, far-reaching and harmful impacts” on the US […]

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Risk Coalition

The Risk Coalition has published its long-awaited final principles-based guidance for UK board risk committees – urging firms to adopt the principles early to meet the “challenging” framework.  In its guidance report, titled ‘Raising the Bar’, the Risk Coalition outlines separate guidance of eight principles for board risk committees and nine principles for risk functions. […]

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Companies face new reporting and governance targets

Companies face new reporting and governance targets Companies have been urged to improve their corporate reporting and governance practices in a new report from the Financial Reporting Council. The FRC published its Annual Review of the UK Corporate Governance Code on Thursday (9 January) with a list of recommendations for businesses. It said that a […]

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Shareholders Westpack

Furious Westpac shareholders have slapped a second strike on the bank, as investors confronted the firm for the first time since its child sex and money laundering scandals. At the Australian bank’s AGM in Sydney on 12 December, an overwhelming 35% of shareholders voted against the company’s remuneration report – resulting in a second strike. […]

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