More ESG news – Page 291
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Lothian takes the lead and sues Ericsson
[11:00 CET 11-03] UK – The Lothian Pension Fund is taking a lead role in a class action against Swedish mobile phone company Ericsson, as it claimed the company issued "materially false and misleading statements" which caused the pension fund to lose $3.2m (€2.1m).
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ICGN urges 'hiding' SWFs to be active investors
[16:00 CET 10-03] GLOBAL – The International Corporate Governance Network (ICGN) has urged sovereign wealth funds (SWFs) to use their voting rights at annual general meetings, and avoid situations where 'bad things happen' because they go unopposed.
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Communication key to 'unique' Nordic governance
[14:00 CET 07-03] NORDIC/SWEDEN – Nordic companies are suffering from other countries' lack of understanding about the Nordic system of corporate governance, experts have claimed.
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AMF Pension condemns Scania deal
[12:00 CET 06-03] SWEDEN – Sweden’s largest fund company AMF Pension has contacted fellow small shareholders to demand a review of Swedish takeover rules.
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ATP succumbs to ethical pressure
[11:00 CET 06-03] DENMARK – Danish pensions giant ATP may change the way it makes and implements ethical investment choices, as a result of a review being launched in the wake of criticism about pension funds’ holdings in nuclear weapons firms.
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Irish effort forces NPRF to review SRI
[16:00 CET 05-03] IRELAND – The €21.3bn National Pension Reserve Fund (NPRF) is examining investments in cluster bomb manufacturers, following the Irish government’s participation an agreement to prohibit such weapon produce.
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Industriens backs away from cluster bombs
[11:30 CET 05-03] DENMARK - Industriens Pension has become the latest pension scheme to offload investments in the producers of cluster bombs, following public focus in Denmark on the ethics of profiting from such companies.
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Stop ‘grotesque’ compensation – BT pension fund
[16:15 CET 04-03] GLOBAL – Donald McDonald, director of the trustee board at the £40bn British Telecom pension fund, has identified a lack of executive independence and 'fat cat' pay as the largest obstacles hindering corporate responsibility.
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Negative screening is 'politically correct'
[13:30 CET 03-03] EUROPE – A positive investment selection approach to identify companies with good environmental, social and governance (ESG) practices is too unattractive for most pension funds, experts have argued.
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Good governance increases returns by 18%
[11:30 CET 03-03] UK – Companies with the best corporate governance procedures have delivered returns 18% higher than firms with poor governance, the Association of British Insurers (ABI) revealed.
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Environment code to calculate property’s carbon emissions
[16:45 CET 28-02] GLOBAL - The Investment Property Databank (IPD) has launched a major global initiative to help real estate owners measure and understand the environmental impact their buildings have, as officials believe such data will become a component of future real estate pricing and legislation.
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SAM powered by global warming to eco funds
[11:00 CET 25-02] SWITZERLAND – Sustainable Asset Managment (SAM) saw its assets under management double over the last year as interest in eco-related investments increased.
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Optas Foundation refuses to budge on sale proceeds
[13:00 CET 22-02] NETHERLANDS - Proceeds of the sale of insurer Optas Group to Aegon, worth €1.3bn are owned by the Optas Foundation, and not by the pension fund for harbour workers BPVH, officials at the foundation have insisted.
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NewsInstitutions commit $10bn to climate change
GLOBAL – A coalition of over 40 European and US institutional investors, with combined assets under management of $1.75trn, have launched a climate change action plan, including a $10bn investment.
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PNO taps Hermes in restructured SRI
[15:00 CET 15-02] NETHERLANDS – The €2.8bn industry-wide PNO media pension fund has restructured its social responsible investment (SRI) policy, and tapped British Telecom’s Hermes Equity Ownership Services as external SRI advisor.
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NewsEast Flanders buys into solar power
[13:00 CET 15-02] BELGIUM – The pension fund of the Belgian East Flanders region will invest in a €117m renewable energy project via the Gent-based solar energy specialist Enfinity1.
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NewsBelgian minister creates confusion over 'pan-European' pension for Nestlé
[17:00 CET 14-02] BELGIUM/SWITZERLAND – The Belgian finance ministry has created confusion about the status of Nestlé's pension funds after announcing the firm is transferring its pensions assets to a pan-European OFP.
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Danica reacts to outcry on cluster bombs
[16:30 CET 11-02] DENMARK - Danske Bank’s pensions arm Danica Pension will offload DKK103m (€13.8m) of shares in companies linked to the manufacture of cluster bombs within the next fortnight, in the wake of public criticism of its holdings.
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Project unveiled to maximise governance benefits
[15:45 CET 31-01] NETHERLANDS – Dutch performance measurer Stichting Performance has launched a research project into pension fund governance to help pension schemes realise economic advantages of good pension fund governance.
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Review to study pension funds' ESG integration
[16:45 CET 30-01] GLOBAL - Responsible Investor and Investment & Pensions Europe Magazine (IPE) have teamed up to launch RI Landscape 2008, one of the widest ever global surveys of institutional investors and asset managers over how they are integrating environmental, social and governance issues (ESG) into their practices.
