More ESG news – Page 307
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ABP and PGGM to invest in carbon reduction
NETHERLANDS - The large pension funds ABP and PGGM will invest €275m and €200m respectively in carbon trading and technology to reduce the emissions of greenhouse gases, they have announced.
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NBIM to take on more corporate governance staff
NORWAY – Norges Bank Investment Management, in the news over the disinvestment of Wal-Mart, looks to be boosting its corporate governance efforts with new staff.
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Norway fund defends Wal-Mart divestment despite ‘flawed’ screening criticism
The Norwegian Government Pension F – Global today responded robustly to allegations that its equities screening process was arbitrary, opaque and unfair.
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UK pension regulator finds governance failings
UK – The Pensions Regulator has found a “significant minority” of UK pension funds have shortcomings in important areas of good governance practice.
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Jones resigns as Morley CEO
UK - Keith Jones is to leave insurance group Aviva's Morley Fund Management arm after seven years as chief executive, the company said.
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UK schemes quiz firms on women’s pay
UK – The Local Authority Pension Fund Forum has written to all companies in the FTSE 350 index enquiring about equal pay for women.
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State Street shareholder activist ‘facing jail’
GLOBAL – A shareholder activist is facing jail after being ejected at State Street Corp.’s annual meeting, according to a filing at the Securities and Exchange Commission.
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Fortis sets up green venture capital fund
NETHERLANDS – Fortis Venturing has set up a new venture capital fund for sustainable so-called ‘technostarters’ in the Netherlands.
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IBM trustee tells of battles with company
EUROPE – A former member-nominated trustee at IBM’s £4.9bn (€7.2bn) UK pension fund says he feels the computer giant made his role more difficult through a lack of information.
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Morley nabs Insight’s Waygood for SRI
UK – Asset management firm Morley Fund Management said today that Steve Waygood has been appointed to the newly created post of head of socially responsible investment (SRI) engagement.
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Swiss insider trading scandal widens
SWITZERLAND – A sixth pension fund has become embroiled in the alleged insider trading scandal at Swiss bank Swissfirst – the Pensionskasse for the bank itself.
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ABP’s Munsters calls for one share, one vote
NETHERLANDS - Roderick Munsters, chief investment officer of Europe’s largest pension fund Stichting Pensioenfonds ABP, has called for the European Commission to implement a ‘one share, one vote’ system of shareholder ownership.
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BBC scheme taps Hermes for ownership advice
UK – The £7.5bn (€11.1bn) BBC Pension Scheme has joined the British Coal Staff Superannuation Scheme and Stichting Pensioenfonds ABP as clients of Hermes’ equity ownership service.
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Nestlé CEO: pension funds are main stakeholders
SWITZERLAND - Peter Brabeck-Letmathe, chairman and chief executive of Nestlé, has acknowledged pension funds’ role as primary stakeholders in the food group.
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Swiss schemes named in insider trading probe
SWITZERLAND – Five Swiss pension funds, including one for technology firm Siemens and one for pharmaceuticals firm Roche, have been named in connection with insider trading that allegedly took place ahead of a merger between two Swiss banks.
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Deminor to launch activist fund this year
BELGIUM – Shareholder rights and corporate governance advisory company Deminor is to launch an ‘activist fund’ later this year.
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Shell indicates $500m settlement with investors
NETHERLANDS – Oil giant Royal Dutch Shell has indicated it would settle the class action suit brought by investors over its misreported reserves for $500m.
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New report calls for European pensions regulator
EUROPE – A new report has called for a European pension regulator among a host of recommendations for the global pensions industry.
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Myners joins Land Securities as chairman
UK – Paul Myners, the former Gartmore chief who wrote an influential report on institutional investment for the government, is to join real estate firm Land Securities as chairman.
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Dutch pension fund members get more say
NETHERLANDS – The Dutch government is to amend the current Pension Law proposal to include a legal basis for pension fund members to have a role in the management of funds.
