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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Mercer faces $11.3m penalty over greenwashing Augusr 7th, 2024 The Australian Securities and Investments Commission’s (ASIC) case against Mercer Superannuation (Australia) has led to the Australian Federal Court fining the firm $11.3 million. In the landmark case, ASIC’s first greenwashing case to be brought before the Federal Court, Mercer admitted it made misleading statements about […]
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Pension schemes too focused on minimum ESG requirements August 1st, 2024 The Pensions Regulator (TPR) found that many pension trustees are only delivering on the minimum requirements for the ESG duties. The UK regulator’s Market Oversight: ESG report found that “too many” smaller schemes had opted for minimum compliance with ESG aspects of their statements […]
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SBTN publishes updated guidance for nature targets July 18th, 2024 The Science Based Targets Network (SBTN) has released amended guidance and a new corporate manual with updated advice for companies. The updated technical guidance and enabling materials emphasised the importance of increasing ambition and driving science-based action on nature. It included updated methods for organisations […]
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The Financial Conduct Authority (FCA) has updated the UK’s listing regime to streamline the rules, hoping to boost growth and innovation.
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The European Sustainable Investment Forum (Eurosif) has released the Corporate Sustainability Due Diligence Directive (CSDDD), which will soon be adopted into EU member states’ law.
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The Principles for Responsible Investment (PRI) has launched the engagement process for Spring, an investor stewardship initiative focused on tackling the material financial risks of biodiversity loss.
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The International Sustainability Standards Board (ISSB) has started on its two-year work plan to improve harmonisation and consolidation of sustainability disclosure guidance.
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