IFRS: Climate-related disclosures

Guest post by Paul Lee

November’s newsletter from the global accounting regulator, the International Accounting Standards Board (IASB) is big news, and is a big step towards accounting that is consistent with the Paris Agreement.

The paper …

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BlackRock step up on climate change

A group of investors are urging industry giants BlackRock and JPMorgan to review their proxy voting records amid concerns they don’t match the firms’ public declarations about climate change.

Mercy Investment Services and Boston Trust Walden have written to BlackRock …

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FCA

The Financial Conduct Authority (FCA) has updated its proxy advisor enforcement rules following industry feedback.

The update follows the regulator’s proxy advisor Shareholders’ Rights Regulations (SRD II), which came into force in June, that gave the FCA …

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A major activist group has launched a petition to fight the SEC’s shareholder proposal rules

A major activist group has launched a petition to fight the SEC’s shareholder proposal rules – already securing nearly two-thirds of the 75,000 target signatories.

Credo Action, which represents millions of activists around the globe fighting for progressive change, warned …

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Pile of astroturf

SEC falls foul of proxy astroturf

Did the SEC cite fake letters to support its proxy clampdown?

The SEC’s attempts to impose tough new regulations on proxy advisers have taken a sinister turn following revelations its chairman has been citing …

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Data, Sustainability risks internal audit

Lack of data hindering investor ESG take up

Investors have cited a lack of reliable data as their top obstacle to ESG adoption, a major survey reveals.

The survey, which comprised responses from 300 institutional investors globally, including private …

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CII backs Nasdaq’s proposal to improve diversity on boards

US pensions demand change on energy boards

One of America’s biggest pension fund groups has submitted shareholder proposals to three leading utility companies urging them to appoint an independent director as chairman.

New York City Retirement Systems, which comprises …

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SEC lambasted over shareholder rights change as companies fail to meet ESG targets

A war of words has broken out between investors and the Securities and Exchange Commission (SEC) following the regulator’s controversial proposal to amend its proxy voting rules. 

On 5 November, the SEC proposed new changes to how proxy advisory firms operate – with some criticising the move …

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BHP faces shareholder anger over fossil fuel

Mining titan BHP is facing growing shareholder dissent over its close links with industry groups that support the fossil fuel industry – with over a quarter of its investors voting to end these affiliations. 

At the Anglo-Australian mining group’s AGM held last week, 27.07% of shareholders voted …

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Since the global economic meltdown in 2007, the debate over shareholder primacy and who ‘owns’ a company has raged on.  

But at no time has the debate been as contentious as today with more stakeholders and industry commentators challenging the view that a corporation should exist principally to maximise shareholder wealth – a notion that was re-popularised by …

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