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Investors call for systematic climate-related risk reporting

A group of institutional investors has called on companies to assess and report their climate-related risks within their annual report to shareholders, in the interests of prudent and long-term capital stewardship.

The position paper has been signed by Natasha Landell-Mills, …

Oil company climate change reporting demand gains traction

Shareholder resolutions requesting reporting on how oil companies ExxonMobil and Chevron will adapt to climate change targets received record investor backing at their AGMs last week (25th May), according to US pressure group, Ceres.

The resolution that would have required …

UK’s Financial Reporting Council provides feedback on succession planning consultation

Achieving greater board diversity to improve company performance was the most pressing concern of respondents to the UK’s Financial Reporting Council’s (FRC) succession planning consultation.

The FRC’s feedback statement on the consultation found that respondents believed that boards as a …

Short-term shareholders damage UK companies and wider economy claim two new reports

British companies are losing out – potentially by over £130bn a year – because they lack clear corporate purposes that unite all stakeholders in common goals and values, according to the interim report by the Purposeful Company Taskforce, which was …

More UK companies face investor opposition to executive pay this week

Standard Life, which as an institutional investor is known for its stewardship approach, faced opposition to the pay awarded to its chief executive, Keith Skeoch at its recent AGM (17th May). The investment and insurance company received a 22% vote …

Executive Pay watch emphasises US pay gap between CEOs and other employees

The US federation of trade unions, the AFL-CIO, has released its latest Executive Paywatch data which it says shows the average CEO of an S&P 500 company received an annual income of $12.4 million in 2015—335 times more money than …

Two thirds of large UK businesses have suffered a cyber attack in the past year

Two thirds (65%) of large UK companies have admitted to having suffered a cyber breach in the past year, according to a survey conducted for the government.

The study also found that 69% of companies said that senior managers were …

Governments pledge to fight corruption as pressure grows for more action

An international anti-corruption summit in London this week has led to an international communiqué in which countries have signed up to taking action to address corruption and reduce financial secrecy which hurts developing countries and their people. Participants also produced …

Has the UK’s pay simplification project hit the buffers before leaving the station?

Last week’s unprecedented result at the AGM of Weir plc – 72.3% against the remuneration policy vote and 72.24% agains the vote on LTIP amendments (both binding …

More companies face investor concerns at AGMs

Shareholders have again showed their discontent over excessive executive pay packages with large votes opposing remuneration reports and policies. Engineering company Weir lost its binding vote on its remuneration policy – with a 72% vote against – while at building …