UK government addresses the gender pay gap

Ensuring women get promoted to senior positions and receive higher bonuses should form part of the strategy to ensure that the gap between the pay of women and men is closed,  according to a report produced by Deloitte and sponsored by “Think, Act, Report“, a UK government campaign.… Read the rest

Manifest Research Impact: Illegal dividends, FRC & ICSA act to ensure compliance

Following Manifest’s analysis of the extent of illegal dividends paid by UK listed companies [22-Jan-16] the Institute of Chartered Secretaries & Administrators (ICSA) the Financial Reporting Council have issued bulletins to remind companies of their legal responsibilities.

Jennifer Walmsley, the FRC’s director of investor engagement, writing on Linked-In, drew attention to the Reporting Lab’s report “Disclosure of dividends – policy and practice“, published in November 2015.… Read the rest

SEC fines Monsanto $80million for accounting violations

The US financial regulator, the Securities and Exchange Commission (SEC), has fined  global agri-business firm Monsanto $80 million for violating accounting rules and misstating company earnings in relation to its flagship product Roundup.  The company has also agreed to retain an independent compliance consultant in its settlement with the SEC.… Read the rest

Work continues to increase the number of women on boards

Sir Philip Hampton, chairman of GlaxoSmithKline has been appointed to increase the number of women executives – and to ensure some are appointed to board level – within FTSE 350 companies. Dame Helen Alexander, Chair of UBM, was appointed deputy chair to the review.… Read the rest

61 Russell 3000 companies failed Say on Pay votes in 2015

Analysis of the proxy voting at Russell 3000 company meetings last year found that 61 companies (2.8%) failed in achieving at least 50% support for their say on pay votes which have been compulsory in the US since 2011, according to pay consultants Semler Brossy.… Read the rest

US public believes CEOs are overpaid

The Rock Center for Corporate Governance at Stanford University has recently conducted a representative survey of 1,202 Americans to understand public perception of chief executive (CEO) pay levels among the 500 largest US publicly traded companies.

The survey found that 74% believe CEOs are not the right amount compared with the pay of an average worker – only 16% believe they are. … Read the rest

FTSE 350 analysis: Environmental reporting still evolving

Most companies in the UK’s  FTSE350 have met the requirements of the recent changes to the Companies Act to report more fully on environmental matters and to report on Greenhouse Gas (GHG) emissions within their annual reports and accounts, according to a study by the Climate Disclosure Standards Board (CDSB).… Read the rest

BlackRock chief calls for more long term thinking by major companies

The chairman and chief executive of investment giant, BlackRock, Larry Fink has written to the chief executives of major companies in the US and Europe encouraging them to think long-term and to provide their shareholders with more forward-looking plans. Fink wrote a similar letter last year, suggesting that companies have yet to take enough notice of his concerns.… Read the rest

Investors gather to ensure funds are used to combat climate change

The UN Secretary-General Ban Ki-moon called on investors to help achieve a doubling in global clean energy investments by 2020 at a meeting in New York last week. Although investments rose to a record high last year of $329 billion they are still not at the levels necessary to meet the Paris climate agreement’s goal of limiting global temperature rise to below 2 degrees celsius, according to US sustainability campaigning group Ceres.… Read the rest

EU consults on investors and sustainability

The European Commission is consulting on on how institutional investors, asset managers and other service providers in the investment chain factor in sustainability (ESG) information and performance of companies or assets into investment decisions. The consultation will also gather information about possible obstacles to long-term, sustainable investment.… Read the rest