More ESG news – Page 292
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“Strong investor" could help small UBS shareholders - Profond
[16:30 CET 30-01] SWITZERLAND – President of the Pensionskasse Profond, Herbert Brändli, has suggested having one large shareholder at Swiss bank UBS might prevent similar “mistakes by the management” which led to losses of several billion Swiss francs last year.
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Social issues still under-researched - EAI
[16:15 CET 30-01] GLOBAL - Social issues, such as human capital, workplace, labour and stakeholder related issues, as well as the banking and insurance sector are still under-researched, according to the Enhanced Analytics Initiative (EAI).
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NewsSpecialist climate change fund unveiled
[16:45 CET 25-01] EUROPE – A fund has been launched which allows institutional investors and pension funds to invest specifically in companies focused on climate change.
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SPF cleans up with principles
[16:05] NETHERLANDS – Spoorwegpensioenfonds (SPF), the €12.1bn Dutch railway pension fund has said it recently signed up for the Principles of Responsible Investment (PRI) and the Carbon Disclosure Project (CDP).
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PGGM disinvests on PetroChina because of human rights
[15:50 CET 18-01] NETHERLANDS - The €88bn health care pension fund PGGM is withdrawing its €37m investments in oil company PetroChina, because of the firm’s human rights violations in Sudan.
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Norway to review PFG's ethical guidelines
[16:45 CET 16-01] NORWAY – The Norwegian Government is re-evaluating the ethical guidelines currently in place for the Norwegian Pension Fund Global to ensure "they function as intended".
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Pension funds explore climate change pressures
[16:30 CET 15-01] EUROPE – A group of four UK-based pensions institutions has launched a project which it hopes will help create a framework for assessing the risks and opportunities of investment in relation to climate change.
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State-owned firm to close DB scheme
[17:00 CET 11-01] IRELAND – Members of pension schemes at Irish renewable energy and turf provider Bord na Móna will be asked to approve changes within the next few weeks which could see the two schemes merged and then closed to new members.
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Norwegian fund drops bomb investments
[16:40 CET 11-01] NORWAY – The Norwegian Government Pension Fund – global has withdrawn its investment in three firms producing cluster and nuclear bombs, but decided to continue keep its equity holding in German firm Rheinmetall.
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CDC protagonist in corporate governance code
[16:00 CET 10-01] FRANCE – French president Nicolas Sarkozy has put forward plans for a new corporate governance code to protect French corporates against ‘destructive action’ from foreign investors.
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1 in 4 DC schemes lack governance safeguard
[16:15 CET 09-01] UK – More than a quarter of UK defined contribution (DC) schemes do not have a so called service level agreement (SLA) with their pension scheme administrators, a new Watson Wyatt study has found.
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Governance code still "too unclear"
[15:30 CET 09-01] NETHERLANDS – A consultation paper on corporate governance, hedge funds and private equity could ease pressures on shareholders' responsibilities, but still is unclear as to what constitutes ‘acting in concert’, according to Eumedion.
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RailPen presses Japanese governance reforms
UK – The British Railway Pension Fund (RailPen), at £20bn (€26.8bn) on of the UK’s largest schemes, has asked around 200 Japanese companies to improve corporate governance practices.
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Unison awards SRI mandate
[15:00 CET 19-12] UK - Unison's Staff Pension Scheme has awarded its £140m (€195m) socially responsible investment equity portfolio mandate to Standard Life Investments.
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ABP to expand European engagement partnerships (amended)
[11:00 CET 18-12] NETHERLANDS – The €218bn Dutch pension fund ABP is due to expand its cooperation with a number of other European pension funds to create new external stakeholder engagement partnerships.
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PBU targets Suzuki and Siemens on Burmese action
[15:45 CET 17-12] DENMARK - Pædagogernes Pensionskasse (PBU), the Danish pension fund for education practitioners, is engaging with five companies operating in Burma about its concerns over ethical matters.
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Swiss funds to get governance index
[13:30 CET 17-12] SWITZERLAND – Swiss Pensionskassen are not as bad as their reputation, according to Andreas Zingg, a researcher at the university of St. Gallen who is looking into pension fund governance.
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Empower supervisory boards, say top economists
NETHERLANDS - Supervisory boards should be given more power to deal with activist shareholders and private equity players, in order to avoid negative effects on a company’s long-term value, Dutch economists have claimed.
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Real SRI engagement small among funds
[11:00 CET 13-12] NETHERLANDS – Most funds muse on socially responsible investing (SRI), though often falter in implementing solid strategies, according to a new report.
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DG queries 'acting in concert' perception
[17:00 CET 11-12] EUROPE – Members States may be forced to rethink the recent introduction of 'acting in concert' corporate governance rules as European Commissioner Charley McCreevy has suggested some governments could be seen to hamper "legitimate" shareholder "collaboration".
