A shareholder resolution tabled at BP’s AGM calling for more financial, environmental and social information on the implications of extracting oil sands has managed to achieve 6% of votes in favour. Taking abstentions or votes positively witheld, the company was only able to achieve 85% support for its approach to this controversial exploration scheme. Over 140 institutional investors, including …… continue reading >>
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The UK Government has asked the Financial Reporting Council to consider including a new principle in its code of conduct (UK Corporate Governance Code) to require companies to report on what they’re doing to increase the number of women in senior management positions. Under proposals announced by The Equalities Office, companies may be required to …… continue reading >> The UK’s High Court has granted an injunction prohibiting the Director of the Serious Fraud Office (SFO) from taking any further steps in its plea bargain settlement with BAE Systems. SFO has been investigating alleged bribery and corruption in BAE’s arms deals since 2004 in several countries (including Chile, Czech Republic, Qatar, Romania, Saudi Arabia, South …… continue reading >> Big Four auditor Deloitte has enhanced its presence in the green consultancy market through the acquisition of sustainability and consultancy adviser dcarbon8. The firm will be integrated with Deloitte’s environmental and sustainability consulting practice, with founder Guy Battle becoming a partner. The deal will give Deloitte a route into the growing market for carbon footprinting services. …… continue reading >> A coalition of international investors representing $2.1 trillion in assets is upping its scrutiny of ‘laggard’ listed companies with a view to improving their reporting of ESG issues. The 86 companies have been targetted for their failure to honour the reporting requirements of the UN Global Compact, the world’s largest voluntary corporate responsibility initiative. “Companies that …… continue reading >> February’s Guest Article is by Louise Rouse, FairPensions’ Director of Investor Engagement and looks at their recent initiative to engage with leading oil producers about their oil sands projects The 2010 AGM season could herald both a new era of public accountability for companies and their investors and a template for future shareholder …… continue reading >> After setting a new high-water mark in 2009 in terms of US shareholder proposals (more than five dozen) and support (one majority vote and three others exceeding 40% of the votes cast), proponents of climate change resolutions are gearing up for an even bigger 2010 proxy season. Close to 100 proposals, spanning more than …… continue reading >> European companies fail to link executive pay to environmental, social, and governance (ESG) performance according to new research published by Eurosif (European Sustainable Investment Forum). The report, produced in association with an investor-led steering committee including Groupama Asset Management, Henderson Global Investors, MACIF Gestion, PhiTrust Active Investors, Robeco and Société Générale Gestion, highlights what EUROSIF sees as ”critical challenges and …… continue reading >> |
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