Sustainable Stock Exchanges – Progress?

This week saw the publication of the latest progress report as part of the  Sustainable Stock Exchange Initiative sponsored by Aviva Investors.  The report by Responsible Research surveyed 27 of the largest stock exchanges across world markets to assess attitudes towards the role of stock exchanges in promoting corporate sustainability reporting.… Read the rest

The future of proxy advisors – is there one?

Sarah Wilson, CEO of Manifest spoke at the ICGN London Meeting on 20th March 2012.
Her presentation at the breakout session “the future of proxy advisory” was based on the following article.

Proxy advisors – sorting fact from fiction

Don’t confuse what you’ve become familiar with over the last few months about the so-called “tyranny of proxy advisors” with the truth.… Read the rest

Cronyism: remuneration consultants – half as bad as bankers?

In this guest article, Cliff Weight of remuneration consultants MM&K responds to a comment from David Brimacombe, senior advisor to Nestor Advisors on our January piece:  ‘Remuneration Committee “Cronyism” – digging deeper’. The article was written in response to assertions from the UK’s prime minister David Cameron and cabinet colleagues that shareholder’s had failed to tackle remuneration committee independence and that serving CEOs were sitting on each other’s committees awarding themselves massive salary increases.… Read the rest

AMF Consults on French General Meetings

The AMF, the French equivalent of the FSA, has finally published an English language version of its February 7th report on the conduct of General Meetings at French listed companies.

The report deals with the four broad themes of dialogue between shareholders and issuers, shareholder voting at general meetings, the board of the general assembly and its role, and voting on regulated items.… Read the rest

More shareholder rights or better plumbing?

More rights for shareholders is one of those sure-fire political winners which would seem churlish to object to. But, with the publication of the UK’s proposals to fix the “payments for failure” fiasco, it looks like the UK government is going to (again) miss a golden opportunity to give shareholders ALL of the tools that they need to fulfil their stewardship responsibilities.… Read the rest

BIS consults on enhanced shareholder powers on executive pay

Vince Cable, Secretary of State for Business, Innovation and Skills, this week announced the latest government consultation on executive pay, this time aimed specifically at enhancing shareholder voting rights on the matter.

The consultation seeks opinions on the following outline policy proposals:

  • An annual binding vote on future remuneration policy
  • Making the vote on future remuneration policy subject to a super-majority threshold
  • An annual advisory vote on implementation of policy in the previous year
  • A binding vote on exit payments of more than one year’s base salary

Looking at the proposals themselves, it is clear they will have an impact on service contracts, possibly requiring the re-negotiation of some in order to ensure they eradicate ‘guarunteed’  bonuses or loss of office amounts which would come under the purview of direct shareholder approval.… Read the rest

GES 1992-2012 – What works in ESG engagement?

Manifest’s friends GES invite you to their London 20th anniversary seminar and new website.

GES celebrates its 20th anniversary by hosting a high-profile seminar in London exploring the future for Responsible Investment. At the same time, GES launches a redesigned website.… Read the rest