More ESG news – Page 300
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Class action set to rise in Europe
GLOBAL – European institutional investors are increasingly participating in US securities class actions, a new study by international voting bureau Institutional Shareholder Services (ISS) shows.
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Internal control needs to be on agenda – Scott
UK - Derek Scott, chairman of trustees for the £1bn (€1.5bn) Stagecoach Group pension fund, says pension funds need to develop a more natural approach to internal control.
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UN’s PRI hits $8trn mark
GLOBAL – The Principles for Responsible Investment (PRI), the international programme set up to consider social responsible investing (SRI) issues, has attracted $8trn (€5.9trn) since launching last April.
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LAPFF targets Shell in oil pay protest
UK – The Local Authority Pension Fund Forum (LAPFF) is continuing its drive to reform oil companies’ pay deals by now calling for Anglo-Dutch oil giant Shell to attach safety-related performance targets to its management remuneration packages.
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Bovenberg calls for governance clarity
NETHERLANDS - Dutch politicians must provide clarity on the governance model of new API funds, otherwise their improvement will be delayed and the export of pension expertise will not materialise, according to pensions expert Lans Bovenberg.
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ABP, PGGM and Mn join ABN Amro rebellion
NETHERLANDS – ABN Amro, which has agreed to a £90bn merger with Barclays Bank, has come under fire from a small group of rebel institutional investor over the sale of its US subsidiary.
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Eumedion condemns empty votes (amended)
NETHERLANDS – Institutional shareholders are too passive, making little use of their shareholder rights and are in danger of developing a herd mentality, says Eumedion, the Dutch institutional corporate governance platform.
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Report outlines pension funds' SRI practices
GLOBAL – A new report from the United Nations has highlighted the socially responsible investment practices of some of the world's most influential pension funds.
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Four Winds Capital to raise $100m for timber
UK - Four Winds Capital, the alternatives boutique which recently established a London office, is looking for a secondary $100m in equity fundraising for timber fund, Phaunos.
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UK small cap bosses enjoy 89% bonus rise
UK – The heads of FTSE100 companies enjoyed median bonus rises of 39% last year, according to data from corporate governance specialist, RREV.
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€221bn Norwegian fund keeps on gambling
NORWAY – The NOK1.8trn (€221bn) Norwegian government pension fund has come under fire again for its investments – this time over gambling.
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Hermes criticises VW but won't stop Piech
GERMANY – At the annual general meeting of car company Volkswagen (VW), shareholders, including UK’s fund manager Hermes, criticised the firm’s corporate governance.
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UK protection fund to create SRI policy
UK – The UK’s £305m (€446.3m) Pension Protection Fund is seeking a consultant to help it create a policy on socially responsible investing.
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UK’s Marathon Club calls for statement of beliefs
UK - Pension trustees should be clear about their investment beliefs as well as focus less on short-term asset manager performance, says the Marathon Club.
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Norwegian fund to screen for arms links
NORWAY – The NOK1.8trn (€220bn) Norwegian Government Pension Fund – Global is to screen its equity holdings to filter companies with connections to certain types of weapon production.
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Regulators probe Dutch institutional real estate
NETHERLANDS – Dutch regulators are probing institutional investors’ real estate investment activities to detect corruption.
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Dutch VB writes SRI manual
NETHERLANDS – The VB, the Dutch Association of Industry-Wide Pension Funds, has drafted a social responsible investments (SRI) manual to help pension funds inject more transparency into their investments.
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Link manager pay to data skills – study
GLOBAL – A new academic study has suggested that investment managers’ pay should be tied to their skills in using information.
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Ex-Hewitt employee jailed for theft from client
UK – A former Hewitt Associates pensions administrator has been given a 21-month prison sentence for stealing more than a quarter of a million pounds from a client.
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Norwegian state fund to raise equity exposure
NORWAY – Changes to the investment rules of the Norwegian Government Pension Fund announced today will see the fund’s equity exposure rise from 40% to 60%.
