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

Financial Disclosures Task Force outlines its approach to climate change

The Task Force on Climate-related Financial Disclosures set up by the Financial Standards Board has outlined the principles and objectives for its work. In its first report the Task Force said that despite a range of initiatives the existing climate-related disclosure remained fragmented and incomplete and there was only a limited number of reporting regimes focusing on the financial risks posed by climate-related impacts.… Read the rest

Railpen’s Head of Corporate Governance Retires

Railpen veteran, Frank Curtiss, who was most recently been its head of corporate governance, has retired. The pension fund has been at the forefront of active institutional investment and was one of the first to vote actively on its equity holdings in the UK and published a voting and corporate governance policy in 1992.… Read the rest

UK’s FRC consults on new audit enforcement regime

With the EU’s audit regulation and audit directive coming into force in June the UK’s Financial Reporting Council (FRC) is consulting on its new audit enforcement procedure for audits of Public Interest Entities (PIE) – which include listed companies, credit institutions and insurance undertakings.… Read the rest

Survey of American institutional investors finds low take up of ESG criteria in investment decisions

There is a low rate of adoption of environmental, social and governance (ESG) criteria in investment decisions among North American institutional investors according to a survey conducted by OFI Global Asset Management and Pensions & Investments.

The survey found that 77% of the 240 institutional investors questioned did not use ESG criteria in their investment decisions, 6% said they were used to a significant extent and 17% said they were used to some extent.… Read the rest

SEC says Exxon and Chevron must accept climate change shareholder proposals at annual meetings

The US Securities and Exchange Commission (SEC) has ruled that oil giants, ExxonMobil and Chevron, need to include shareholder proposals at their AGMs requesting information on the impact on their businesses of the policies on reducing carbon emissions and responding to global warming.… Read the rest

UK’s Investment Association explains how investors can boost productivity

The Investment Association (IA) has published an industry-wide Productivity Action Plan which it believes will boost the UK economy through long-term investment, helping to reverse the UK’s productivity problem. The action plan aims to encourage the provision of more long-term finance for companies and enhance investor stewardship.
Read the rest

Still work to do to break up old boy networks says UK’s Equality and Human Rights Commission

UK companies continue to use personal networks when recruiting board members, which acts as a barrier to women becoming directors, according to an inquiry by the Equality and Human Rights Commission.

The study found that while the overall target set by the Davies review of 25% of FTSE 100 board members being women has been achieved this masks the reality that within individual companies the number of women on boards can still be low.… Read the rest

New Zealand stock exchange provides update on corporate governance reporting review

The New Zealand Stock Exchange, NZX, is currently reviewing the responses to its recent consultation on proposed changes to corporate governance reporting requirements within the NZX Main Board Listing Rules.

One of the key concerns raised by respondents is the fragmentation of existing corporate governance reporting requirements in New Zealand and the NZX said it was engaging with a number of stakeholders, including the Financial Markets Authority (FMA) to understand how this can be addressed.… Read the rest