SEC’s back to work priorities: proxy plumbing & human capital reporting

Investors ask SEC to intervene on Covid disclosures A group of investors have called on the Securities and Exchange Commission to force companies to disclose how the Covid-19 pandemic has affected their business operations. Representatives from 98 asset owners, fund managers, public interest groups, lawyers and trade unions, have asked the SEC to consider new […]

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FRC reports highlight benefits of Covid disclosures

FRC reports highlight benefits of Covid disclosures Investors require “clear and timely” disclosures from companies during the Covid-19 pandemic to inform decision-making and drive capital allocation. Two new reports from the Financial Reporting Council have attempted to break down what investors need from companies during the current period of uncertainty. The FRC has recommended that […]

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Boardroom woes sees more departures from EasyJet

Boardroom woes sees more departures from EasyJet Further turmoil has gripped budget airline EasyJet after two board members announced their departure amid the ongoing bitter row between the leadership team and founder Stelios Haji-Ioannou over a plane order. EasyJet ordered more than 100 aircraft worth £4.5billion from Airbus in 2013, which chief executive Johan Lundgren […]

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Regulators: Beware of climate risks in actuarial forecasts

Regulators: Beware of climate risks in actuarial forecasts Regulators are warning that risks from climate change pose a significant threat to the quality and accuracy of actuarial work. This latest warning from the Joint Forum on Actuarial Regulation – which includes representatives from the Financial Reporting Council, Financial Conduct Authority and the Pensions Regulator – […]

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Fossil fuel bank lending

Report: Fossil fuel bank lending could torpedo capital markets Rules governing lending to fossil fuel-intensive companies need tightening to protect investors and the financial stability of capital markets, a report has warned. In its report, Breaking the Climate Finance Doom Loop, the Finance Watch lobbying group said action taken by regulators to date had been […]

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Carney: Data interpretation key to zero carbon transition

Carney: Data interpretation key to zero carbon transition Investors must learn how to interpret, and apply, the increasing volume of ESG data if they are to formulate successful strategies to tackle climate change, according to the former Bank of England governor Mark Carney. Addressing members of the Personal Investment Management and Financial Advice (PIMFA) trade […]

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IMF warns equity investors over climate risk

IMF warns equity investors over climate risk Equity investors will increasingly have to consider the physical impacts of climate change on their portfolios, according to recent guidance from the International Monetary Fund. In a written update on its website, the IMF outlined the direct cost of severe weather events such as floods, forest fires and […]

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EU-wide task force appointed as NFRD reform gathers pace

European Commission pushes ahead with SRD II The European Commission will proceed with the implementation of the second Shareholder Rights Directive (SRD II), defying protests from some post-trade groups. As a result, the second phase of SRD II will come into force on 3 September 2020, as originally scheduled. The first phase of implementation saw […]

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SEC’s back to work priorities: proxy plumbing & human capital reporting

SEC committee to policymakers: Revise ESG rules or be left behind The US risks falling further behind the UK and Europe unless rules governing reporting requirements for issuers around environmental, social and governance factors are updated. That was the conclusion from the Securities and Exchange Commission’s investor advisory committee, which issued a recommendation that issuer […]

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BlackRock ups the pressure on Exxon Mobil

BlackRock ups the pressure on Exxon Mobil BlackRock has shown it can get serious with portfolio companies, this week cranking up the pressure on Exxon Mobil by voting against the re-election of several of the company’s leadership team. Citing insufficient progress on sustainable reporting, an inadequate mix of skillsets and an inability to assess material […]

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