The Principles for Responsible Investment (PRI), The United Nations Environment Program Finance Initiative (UNEP FI) and The Generation Foundation, have published US and UK roadmaps, which set out recommendations to fully embed the consideration of environmental, social and governance (ESG) factors in the fiduciary duties of investors in the US and UK capital markets. The PRI said […]
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UK fund managers members take executive pay reform seriously according to the UK’s Investment Association, which this week responded to the recommendations of the Executive Remuneration Working Group. In its new Principles of Remuneration, the IA suggests that rather than opting for the default Salary/Bonus/Long Term Incentive Plan (LTIP) pay structure, firms should consider pay structures which fit their business and […]
Read MoreUK investment campaign group ShareAction has urged investors to use the binding votes on remuneration policy at BP and Shell in 2017 to ensure the oil majors can demonstrate their commercial strategies are aligned with a move to a low carbon economy. In an investor briefing ShareAction said it believes shareholders should engage with the companies to ensure […]
Read MoreForty institutional investors, including Coller Capital, three Swedish state pension funds, Aviva, Nordea and Robeco have launched an engagement with 16 multinational food companies highlighting the material risks posed by industrial animal production. The coalition, which together manages $1.25 trillion in assets, has written to the companies urging them to identify their plans to respond to this risk, in particular […]
Read MoreResponsible investment advocates have welcomed the government’s Local Government Pension Scheme guidance which provides a less prescriptive framework for investing as part of the requirement for local authorities to prepare their own investment strategy statement. The guidance is to enable local authority pension schemes to meet the obligations of new regulations due to come into force next […]
Read MoreRetailer Sports Direct chief executive Dave Forsey has resigned to be replaced by Mike Ashley, founder of the company, its major shareholder and previously executive deputy chairman. No reason for his departure has been given but the resignation follows months of criticism of the company because of its working practices and poor corporate governance. Dave Forsey […]
Read MoreMajor institutional investors were among those criticising retailer Sports Direct at its AGM this week and showed their disquiet about the company through their votes. The majority of independent shareholders voted against the re-election of the chairman Keith Hellawell and in favour of a shareholder resolution put forward by the Trade Union Share Owners (TUSO) group and Islington Council […]
Read MoreInstitutional investors must do more to reduce in-work poverty and improve the quality of work in the UK’s private sector, according to a report published by ShareAction. The report evaluates the potential of investor-led strategies to address inequality and protect the economic interests of low paid beneficiaries. The report suggests that active ownership of companies by […]
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A strong corporate culture that is embedded throughout a company and reinforced with strong leadership by the chief executive and chairman can produce long-term value for businesses a study by the Financial Reporting Council has found. The report, based on a series of interviews with company secretaries, chairmen and chief executives, explores the relationship between corporate […]
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Investors need to engage more effectively with companies on forced labour and ensure that firms are meeting reporting requirements according to the latest Investor Briefing by pressure group, ShareAction. The briefing includes examples of shareholder engagement with companies as well as policy makers which has led to action being taken against the use of forced […]
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