FCA grants temporary flexibility for ‘naming and marketing’ sustainability rules September 12th, 2024 The Financial Conduct Authority (FCA) has offered firms temporary flexibility to comply with the ‘naming and marketing’ rules under its Sustainable Disclosure Requirements. The rules require that funds marketed or sold with sustainability-related terms but without a label must have genuine sustainability […]
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Investors urge 76 UK companies to hold climate strategy vote September 11, 2024 A group of investors with $1.6 trillion assets under management have called on 76 FTSE 100 companies to present their climate transition plans for investor approval. The Local Authority Pension Fund Forum (LAPFF), supported by investors, wrote to the chairs of companies […]
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LPFA appoints Minerva as vote monitoring service partner September 9th, 2024 The London Pensions Fund Authority (LPFA), a £8 billion Local Government Pension Scheme (LGPS) fund with around 100,000 members, has appointed Minerva Analytics to provide additional insight into fund manager use of share voting rights and the rationale behind voting decisions. The appointment forms […]
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Republican attorneys claim asset managers are breaching fiduciary duties September 6th, 2024 A group of 24 Republican attorneys has raised concerns about whether American asset managers are violating their fiduciary duties by outsourcing voting on environmental proposals to proxy advisors. In a letter to America’s largest asset managers, the coalition, led by Montana Attorney General […]
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Court revives greenwashing lawsuit against Coca-Cola September 6, 2024 The DC Court of Appeals has revived a lawsuit against Coca-Cola, alleging that the company’s marketing campaigns involved greenwashing, after the case was initially dismissed. The international environmental organisation Earth Island Institute filed a lawsuit against Coca-Cola in 2021, claiming that the company’s campaigns to promote […]
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Group sues Texas over “anti-ESG” law September 4th, 2024 A nonprofit organization has filed a lawsuit against Texas seeking to overturn a 2021 bill that limits investments in businesses that “boycott energy companies”. The American Sustainable Business Coalition, which represents more than 200,000 businesses, filed a suit against Attorney General Ken Paxton and Comptroller Glenn […]
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Salesforce to pay $1.35m to settle 401(k) plan misconduct lawsuit August 30, 2024 Salesforce has agreed to pay $1.35 million to more than 50,000 employees to settle two lawsuits that alleged the company of mismanaging its 401(k) plan, Pensions and Investments reports. The plaintiffs claimed that plan managers violated the Employee Income Retirement and Security […]
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ASN Impact Investors divests from fast fashion companies August 29, 2024 Dutch investor ASN Impact Investor has sold approximately €70 million worth of shares in fast fashion companies, after adopting a stricter sustainability policy. It sold stakes in 12 companies across seven of its Article 9 funds, including retail giants H&M, Next, Marks & Spencer, […]
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Australia steps closer to mandatory climate reporting August 29th, 2024 The Australian senate has passed a bill to introduce mandatory climate reporting for large and medium-sized companies as part of the government’s sustainable finance strategy. Senators voted 34-25 to support the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024, which will require […]
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Border to Coast expands ESG voting and engagement scrutiny August 16th, 2024 Border to Coast Pensions Partnership is advancing its monitoring of its wider external manager ESG voting and engagement to boost support for ESG resolutions. The pension pool, which pools the investments of Local Government Pension Scheme (LGPS) funds and represents £52.3 billion in […]
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