Shareholder-focused capitalism beginning to fray

Banks holding shares on behalf of clients are still responsible for human rights due diligence at the companies whose shares they hold, according to the UN.

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lobbying

The US investment giant, BlackRock, has stated that is responding to the recent school shooting in the US by engaging with firearms manufacturers and retailers to understand what they are doing to reduce the risk of this kind of event happening again. BlackRock said there are three publicly traded companies in the US whose primary business […]

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UK corporate governance code

There continued to be a focus on executive pay in 2017 by shareholders of FTSE 350 companies data from Manifest for the Pensions and Lifetime Savings Association’s (PLSA) AGM voting review showed. The PLSA stated that the executive pay awards continued to be the most controversial aspect of corporate governance, with the figures of significant remuneration-related […]

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corporate governance codes

Manifest has released its 2018 voting policy guidelines to clients and announced changes to its research reports to reflect the latest global governance and sustainability developments. AGM reports will now provide more detail on board diversity and pay ratios while Say on Sustainability reports will reflect the recommendations of the Financial Stability Board’s Task Force on Climate-Related […]

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CalSTRS Jana Partners Apple

Activist institutional investors, the public pension fund CalSTRS and Jana Partners, have begun a campaign calling on the technology giant, Apple, to consider the evidence that children that are excessively using electronic devices, such as its I-phone, may be damaged by this and to support parents to control their usage. In an open letter to […]

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Petrobas class action USS

Brazilian oil and gas company, Petrobras, has signed an agreement to settle a securities class action lawsuit filed in the US in which the lead plaintiff was UK pension fund, the Universities Superannuation Scheme (USS). Under the settlement, Petrobras agreed to pay US$ 2.95 billion to resolve claims in two installments of US$983 million and a last […]

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US corporate governance framework

The Investor Stewardship Group (ISG), a coalition of some of the largest U.S. based institutional investors and global asset managers, along with several of their international counterparts, is working with US companies to ensure they comply with its corporate governance framework which takes effect from 1st January 2018. The framework, which incorporates corporate governance and stewardship […]

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Minority shareholders in Accor, were disappointed when their resolution was not passed at its AGM (5th May) meaning double voting rights continue for large investors in the hotel chain. French social investment firm, Phitrust Partners, advised by corporate governance and proxy voting specialists Proxinvest, submitted the resolution – calling for the principle of “one share – one vote” […]

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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 executives at both oil companies is rewarding the achievement of corporate strategies which could put shareholder value […]

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Wells Fargo

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 for many of the directors was considerably lower than normal. The chairman of the board, Stephen […]

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