Drax faces environmental protests at AGM

Energy company, Drax, which operates the biggest power station in the UK, faced protest from environmental campaigners at its AGM on Wednesday (20 April 16).

Groups including Biofuelwatch and the London Mining Network joined forces to protest about its business activities.… Read the rest

Anglo American faces opposition to executive pay

Mining group Anglo American faced a 42% vote opposing its remuneration report at its AGM this week. Though not a complete rejection the company acknowledged that it needed to engage with shareholders further in advance of the remuneration policy vote next year which will be binding.… Read the rest

UN Climate Change Agreement signed this week

The United Nations (UN) held a ceremony at its headquarters in New York for countries to formally sign up to the climate change agreement that was made in Paris at the end of last year. The Paris Agreement enters into force once 55 countries representing 55% of global emissions have deposited their instruments of accession with the UN.… Read the rest

BP, Smith & Newphew AGM season blow out

The 2016 AGM season started with major defeats for two FTSE100 companies. Last Thursday (14th April) oil giant BP and medical equipments supplier, Smith & Nephew saw their remuneration reports rejected by shareholders at their AGMs. At the BP AGM there was a 59% vote against the remuneration report and at Smith & Nephew 53% of shareholder votes cast were opposed to the remuneration report.… Read the rest

Persimmon seeks to blame proxy advisors for NED’s slim majority

Construction firm, Persimmon, faced significant opposition in the vote to elect Nigel Mills as one their non-executive directors. There was a 47% vote against Mills’ appointment, due to independence concerns, at the company’s AGM last week, one of the slimmest margins for a director appointment for some time.… Read the rest

Countries reform corporate governance codes

Respondents have until 22nd April to comment on a  revised corporate governance code for Mauritius. Its national committee on corporate governance said the new code, developed by a team led by governance expert Dr Chris Pierce, is comprised of eight principles forming the core of the code and each principle should be applied in the best ways that the board of directors may decide and explained in their company’s annual report.… Read the rest

Taiwan records corporate governance progress

Taiwan’s Financial Supervisory Commission has published the Securities and Futures Institute’s second evaluation of Taiwan’s  5-year Corporate Governance Roadmap published in December 2013. This is an assessment of the corporate governance of 1,447 companies in 2015 – made up of  824 TWSE-listed companies and 623 listed on the Taipei Exchange (TPEx).… Read the rest

Shareholders call for companies to respond to environmental concerns

Investors vote on the first of three shareholder resolutions proposed at Rio Tinto, Anglo American and Glencore AGMs this week calling for reporting by these mining companies into how they are managing carbon emissions and investing in low-carbon energy research and development.… Read the rest

French issuer control of governance queried by AMF report

French regulator AMF has found that France is the only country where governance codes are drawn up by bodies representing issuers and where code amendment to its code are not subject to a prior public consultation on the website of the entity responsible for drafting the code.… Read the rest

Better audits need broader skills finds report

Changes may be needed to ensure audit teams have the right skills in the future and there needs to be an open and constructive debate on the future of audit findings from two international studies produced for the UK’s Financial Reporting Council and ICAS show.… Read the rest