More ESG news – Page 310
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VW pension managers exit amid probe
GERMANY – The resignation today of Volkswagen’s human resources head Peter Hartz follows that of VW’s Pension Trust director Helmuth Schuster amid a bribery investigation.
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ABP, Hermes in Japan governance move
NETHERLANDS – Stichting Pensioenfonds ABP, the largest Dutch pension fund, has tapped Hermes to assist it on corporate governance issues on its €4.9bn Japanese equity portfolio.
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INTERVIEW: US’s Oxley on corporate governance
GLOBAL – US congressman Michael Oxley, co-author of the US Sarbanes-Oxley corporate governance legislation, says institutional investors are “finding their voice” in corporate governance.
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Dutch schemes’ boards ‘need more control’
NETHERLANDS - The boards of pension schemes still aren’t sufficiently aware that they need to be in control and that just implementing internal management is not enough, claim two Dutch experts on corporate governance.
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French reserve fund to invest €600m in SRI
FRANCE - The Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, has started to select managers for up to six socially responsible investing mandates worth a total of €600m.
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Report warns pension funds about climate risk
GLOBAL – A new report has warned pension fund trustees that they need to consider climate change if they want to do the best for their beneficiaries.
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Petroleum Fund in ownership rights move
NORWAY - Norges Bank Investment Management, which runs the NOK1.09trn (€134bn) Petroleum Fund, has set up a new ownership rights group to further its work on corporate governance.
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Dutch system seen as global pension leader
NETHERLANDS – “The Dutch pensions industry had come from being a virtually unknown pension power 10 years ago, to being the global pension revolution leader today,” said Keith Ambachtsheer, academic and strategic adviser to pension plans.
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France’s FRR calls managers to SRI meeting
FRANCE – The €19.6bn Fonds de Réserve pour les Retraites, the French Pensions Reserve Fund, is planning to meet asset managers about socially responsible investing later this month.
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Governance group GES sets up engagement forum
EUROPE – Corporate governance consulting firm GES Investment Services has set up an ‘engagement forum’ for pension funds.
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Dutch pension governance group gets new head
NETHERLANDS – A Dutch treasury official is to take over from former Unilever pension executive Jos van Niekerk as director of the Dutch Foundation for Corporate Governance Research for Pension Funds, or SCGOP.
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Davies to chair UK asset management association
UK – Simon Davies, chief executive of Threadneedle Asset Management, is to take over from Lindsay Tomlinson as chairman of the Investment Management Association.
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Robeco to assist schemes in voting
NETHERLANDS - Robeco is to offer to assist its larger customers such as pension funds to influence listed companies to meet socially responsible investment criteria.
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ISS targets Europe with Deminor purchase
EUROPE – US-based corporate governance and proxy voting firm Institutional Shareholder Services is to launch a European operation following the purchase of rival Deminor’s governance arm.
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French reserve fund in SRI move
FRANCE – The French reserve fund, the Fonds de Réserve pour les Retraites, has made progress in its move towards socially responsible investing.
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F&C sides against limiting voting rights in France
FRANCE - Investment manager F&C has vowed to turn up pressure on French companies to end the practice of limiting voting rights.
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Credit Suisse defeats pension funds at AGM
SWITZERLAND – A corporate governance motion brought by a group representing Swiss pension funds has been defeated at Credit Suisse Group’s annual general meeting.
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German asset managers get governance code
GERMANY - A committee headed by well-known finance expert Professor Wolfgang Gerke has unveiled a new corporate governance code for asset managers active in Germany.
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AP1 to vote against GE and Chevron at AGMs
SWEDEN – Forsta AP-fonden, the €17bn Swedish buffer fund, is to back environmental resolutions at US industrial giants General Electric and ChevronTexaco at their annual general meetings tomorrow.
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Corporate governance manual launched
EUROPE – The CFA Institute has launched a 55-page manual on corporate governance for investors.
