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ShareAction: Investors to oppose BP and Shell’s pay policies

Responsible investment pressure group, ShareAction is calling on investors to oppose the executive pay policies of oil companies, Shell and BP, arguing that they are not aligned with the long-term interests of shareholders.

ShareAction said that the remuneration for

Shareholders vote down Pearson’s remuneration report

Educational services company Pearson, lost the vote on its remuneration report at its AGM last week (5th May). There were also significant votes opposing the company’s remuneration policy and the re-election of the remuneration committee chair.

If abstention votes …

FRC begins probe of KPMG and its Rolls-Royce audit

The Financial Reporting Council (FRC) has commenced an investigation under its audit enforcement procedure into the conduct of KPMG, in relation to its audit of Rolls-Royce’s financial statements from 2010 to 2013.

The FRC’s investigation follows an …

Fortune 500: clean energy target increase

Nearly half of Fortune 500 companies—48%—have at least one climate or clean energy target, according to a report from WWF, Calvert Investments, CDP and Ceres. This is up 5% from an earlier 2014 report.

Power Forward 3.0 …

Guidance on stewardship code in Japan published

Guidance on Stewardship Code for institutional investors in Japan to perform their duties effectively has been published by the Principles for Responsible Investment (PRI), the United Nations Environment Programme Finance Initiative (UNEP FI) and the Generation Foundation as part of …

CII voices opposition to Republicans’ Financial CHOICE Act

The US Council of Institutional Investors (CII) has voiced its opposition to aspects of the Republicans’ Financial CHOICE Act which was formally introduced by the House of Representatives’ Financial Services Committee Chairman Jeb Hensarling this week.

Hensarling believes the Act …

Wells Fargo shareholders demonstrate their discontent

Shareholders in scandal-hit US bank Wells Fargo gave the company a signal of their dissatisfaction in voting at its recent AGM.

While the re-election of the directors was passed with the majority of votes cast the proportion in favour …

USS calls on AkzoNobel to engage with PPG over its bid

UK pension fund, Universities Superannuation Scheme, (USS) has called on the Dutch paintmaker AkzoNobel to engage constructively with its US rival PPG which has recently submitted a third bid for the company, AkzoNobel said it will consider the …

Anglo-American gains shareholder backing for executive pay policy

Global mining group Anglo-American received strong support from shareholders for its remuneration policy as well as its remuneration report at its AGM this week.

The remuneration report gained 99% support while the policy – which is a binding vote – …

UN Environment and World Bank launches Sustainable Finance plan

The United Nations Environment Programme (UN Environment) and the World Bank have launched a summary of their Roadmap For A Sustainable Financial System. The aim is to have a final roadmap agreed by October this year.

This …