Investors urge DoL to pull ESG proposals Institutional investors from around the world have urged the US Department of Labor to pull back on its proposed Financial Factors in Selecting Plan Investments Regulation and give them more time to feedback. Retirement schemes and pension plans from the US, UK, Italy and Spain have submitted evidence […]
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US business lobbies press for laws on boardroom diversity A group of US business associations has called on the Senate to ratify legislation on boardroom diversity that was passed by the other chamber last year. In an open letter to Mike Crapo, chairman of the committee on banking, housing, and Sherrod Brown, the committee’s ranking […]
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Dalriada Trustees selects Minerva for implementation statements reporting Dalriada Trustees, one of the UK’s largest independent trustee firms, has selected Minerva Analytics to carry out vital duties for its pension fund clients related to the newly introduced implementation statement. Dalriada, which operates out of seven UK offices, has appointed Minerva to assess its external asset […]
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US investor group urges DOL to rethink ESG law The US Impact Investing Alliance has urged the Department of Labor to reconsider the introduction of a controversial law governing ESG in investment portfolios, asking them to suspend the rulemaking process until normality returns. The group has written an open letter to the DOL, objecting to a proposed rule that would see severe restrictions imposed for US […]
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Top UK pension sets “net-zero” target The UK’s largest defined contribution pension scheme has set a goal of becoming net-zero on its carbon emissions by 2050 to avoid members retiring into a “world devastated by climate change”. Nest, the multiemployer scheme with more than 9 million members, has also committed to invest £5.5bn in climate […]
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PLSA launches ESG implementation guide for UK pensions The Pensions and Lifetime Savings Association (PLSA) has published guidance to help pension trustees navigate new regulatory requirements around the public disclosure of their responsible investment activity. The association’s Implementation Statement Guidance sets out how to tackle new duties from the Department for Work and Pensions (DWP), […]
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SEC ignores investor objections to implement new proxy rules Despite claims from some of the world’s largest investors that moves to impose new proxy voting regulations would increase costs, the US financial regulator has pressed ahead with a series of new laws governing shareholder voting rights. On July 22, The Securities and Exchange Commission voted […]
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UK SDG group joins UN Global Compact An action group focused on furthering progress of the UN’s Sustainable Development Goals (SDGs) in the UK has become part of the UN Global Compact Network (GCN). UK Stakeholders for Sustainable Development (UKSSD), which is to join the global movement, said it was part of the organisation’s growth plans and follows the departure of network director Emily Auckland. Since it […]
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Spanish “loyalty shares” draw central bank criticism The Bank of Spain has emerged as part of almost unanimous opposition to its government’s proposed introduction of so-called loyalty shares for listed companies. According to El Pais, in its response to a consultation on a new securities and finance bill, the central bank said it could see the potential drawbacks of the proposal much more clearly […]
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Netherland’s Blue Sky Group appoints Minerva Analytics as Proxy Voting Services partner Minerva Analytics has been appointed by Blue Sky Group (BSG), the independent pensions asset manager and administrator in the Netherlands, to provide Proxy Voting Services. Following a competitive tendering process, Minerva Analytics has been appointed by the €23 billion Blue Sky Group to provide […]
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