NEST has renewed its contract with the proxy voting and analysis firm Manifest as part of its ongoing commitment to act as a responsible steward of members’ money.
Commenting on the relationship between NEST and Manifest, NEST’s Paul Todd said, ‘Auto enrolment is creating millions of new shareholders.… Read the rest
Legal & General Investment Management
(LGIM) will be using its shareholder vote at company AGMs to put pressure on companies to take action to respond to climate change and demonstrate they are taking measures to move to a low carbon economy.… Read the rest
The UK government
should impose a duty on all companies to prevent human rights abuses with the failure to do so becoming an offence, the parliamentary joint committee on human rights
has recommended in its report
on human rights and business.… Read the rest
Oil giant BP
, which last year lost its advisory vote on its remuneration report at its AGM, has reduced the pay of its chief executive, Bob Dudley, and will propose a simpler pay policy to shareholders at this year’s meeting on 17th May.… Read the rest
An outcry from politicians and the public has forced Canadian train and aeroplane manufacturer Bombardier
to back track on planned pay rises for executives after it had announced job losses and accepted a loan from its government.
Canadian PM Justin Trudeau forced to defend Bombardier pay rises
Following the release of the notice of its annual general meeting in May and its annual disclosure of executive remuneration there were public protests outside the Bombardier headquarters in Quebec against the pay rises.… Read the rest
In a sign of disquiet about the acting chair of the US Securities and Exchange Commission
(SEC), Michael Piwowar, Democratic Senators
have suggested that he has overreached his authority in a letter
to the regulator’s inspector general, Carl Hoecker.
The Senators point out that Piwowar’s position is temporary until President Trump’s nominee for the position, Jay Clayton, has been approved by Congress.… Read the rest
Directors should be required to take their corporate governance and legal duties
more seriously the House of Commons Business, Energy and Industrial Strategy select committee believes. The committee’s report on corporate governance
was published this week.
While the MPs state that there is no need for a radical overhaul of corporate governance in the UK, “We do believe that there is scope for significant improvements in order to address the changing nature of company ownership in a globalised economy.”
Iain Wright MP, Chair of the BEIS select committee, said: “The UK corporate governance system is recognised throughout the world as of high quality.… Read the rest
Speaking at an evidence gathering session
for the Future of Work inquiry
being conducted by the Business, Energy and Industrial Strategy parliamentary select committee Steve Turner, assistant general secretary at the Unite Union said that his union had predominantly come across the “criminal and dodgy” agencies that existed to exploit the workforce.… Read the rest
has reached an agreement with the Serious Fraud Office
(SFO) which, if approved by the court, will allow it to pay a fine for its false accounting in 2014 rather than face prosecution. Separately it has agreed with the Financial Conduct Agreement
(FCA) that it will pay compensation to investors for market abuse when it presented misleading trading statements in August 2014.… Read the rest
The Global Sustainable Investment Alliance
(GSIA) has released its biennial Global Sustainable Investment Review 2016
, which shows that global sustainable, responsible and impact (SRI) investment assets reached $22.89 trillion at the start of 2016, 25% more than in 2014.
The report brings together the findings of the sustainable investment forums from Europe, the United States, Canada, and Australia and New Zealand.… Read the rest