Historic year for green investors

Investors engaging with North American companies on climate change financial risks achieved major breakthroughs in the 2009 proxy season according to a recent report by environmental think-tank, CERES.

A record 68 climate-related shareholder resolutions were filed by investors this year. Of the 68 resolutions filed, a record 31 resulted in company agreements and withdrawal of the More…

Global audit standards “negligible” differences

An independent report commissioned by the European Commission has concluded that the differences between US and international audit standards are “negligible”. The study,  prepared by the Maastricht Accounting, Auditing and Information Management Research Center (MARC), evaluated the differences between International Standards in Auditing (ISAs) and the standards of the U.S. Public Company Accounting Oversight Board (PCAOB). ISAs have been updated More…

France appoints pay czar to monitor bank bonuses

French President Nicolas Sarkozy has stepped into the governance spotlight with a plan to keep bankers pay under control. Following a meeting  on Tuesday between Sarkozy and France’s top banks, including BNP Paribas SA and Société Générale SA the banks agreed to penalize traders who lose money for their firms after getting a bonus and to limit other payouts More…

UNPRI gets tough

Earlier this year the United Nations announced it was going to get tough on compliance with its Principles for Responsible Investment Initiative. It has now announced that five financial institutions have been delisted as signatories from the Principles  for not participating in the Initiative’s annual Reporting and Assessment process. Participation in the annual survey is mandatory for asset More…

New Swedish Takeover Rules imminent

Näringslivets Börskommitté (NBK), the Swedish Industry and Commerce Stock Exchange Committee, has completed a review of the Swedish takeover rules which apply to regulated markets in Sweden (Nasdaq OMX Stockholm and Nordic Growth Market). Draft revised rules were published in June, with the final draft being submitted to the NASDAQ OMX.

Of most interest More…