More ESG news – Page 311
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CalSTRS plans $3bn emerging market move
GLOBAL – The $127bn (€97bn) California teachers fund CalSTRS is to launch a search for up to six active equity managers to invest about $3bn in emerging markets, or 10% of its international equity portfolio.
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Austria’s NÖVK scheme taps GES for SRI
AUSTRIA - Niederösterreichische Vorsorgekasse, a two-year-old Austrian pension fund serving 100,000 employees, has hired GES Investment Services for socially responsible investment consulting.
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Nestlé defeats pension funds amid “mistrust”
SWITZERLAND – Food group Nestlé has defeated a corporate governance motion brought against it by a group of pension funds - with outgoing chairman Rainer Gut questioning their motives.
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FTSE and ISS add corporate governance ratings
GLOBAL – FTSE Group and Institutional Shareholder Services have added corporate governance ratings to their new FTSE ISS Corporate Governance Index.
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Sweden’s Telia scheme shifts assets to SRI fund
SWEDEN – The Swedish pension scheme of Nordic telecoms firm TeliaSonera has shifted $140m (€108.7m) of assets into a socially responsible investing screened fund from State Street Global Advisors.
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NAPF venture has “concerns” over Jardine Lloyd
UK – The National Association of Pension Funds’ corporate governance venture says it has “several concerns” about governance at consulting and insurance firm Jardine Lloyd Thompson.
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Denmark’s ATP in socially responsible move
DENMARK – The Danish labour market pension fund ATP has signed a deal to use socially responsible investing research from Eiris.
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Nestlé resisting pension fund pressure
SWITZERLAND – Food manufacturer Nestlé has dismissed media reports that its board of directors would step down if a group of pension funds succeeded in preventing CEO Peter Brabeck from becoming chairman of the board as well.
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Blue Sky names new managing director
NETHERLANDS – Blue Sky Group, which manages the pension assets of airline KLM, has named Toine van der Stee as its new managing director.
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Mercer sees SRI becoming mainstream
GLOBAL - Mercer Investment Consulting says socially responsible investment practices are becoming mainstream among investment managers.
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Dutch pension groups form governance platform
NETHERLANDS – A number of Dutch institutions, including Blue Sky Group, MN Services and builders’ pension scheme SFB, have set up a group to lobby listed companies to improve corporate governance, IPE has learnt.
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Governance still seen as issue for Dutch schemes
NETHERLANDS – Peter de Koning, a former member of the Tabaksblatt corporate governance committee and current pension manager, says the overall governance of Dutch pension funds could be improved.
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Swedish AP funds in tobacco move
SWEDEN – Corporate governance representatives of two of Sweden’s national buffer funds could be set to join a key committee at tobacco products firm Swedish Match.
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Red tape killing Dutch company schemes - KPMG
NETHERLANDS - Thirty percent of Dutch companies with their own pension schemes are seriously considering abandoning them due to ‘red tape’, says KPMG.
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Dutch criticised for ethical failings
NETHERLANDS - Dutch pension funds lack transparency in involving social and environmental issues in their investment policies, while the locally-listed companies are less “socially responsible” than their French and UK counterparts, according to two reports.
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FRR seeks SRI, private equity consultants
FRANCE – The French reserve fund, the Fonds de Reserve pour les Retraites, is looking to select consultants to help it select asset managers for socially responsible investment and private equity mandates.
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German regulator misses out in EU directive
GERMANY - European pension funds looking to do business in Germany in the future will not be regulated by BaFin, the German financial services regulator, according to excerpts of a government draft law that transposes the EU pension funds directive.
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London pension authority eyes climate change
UK – Knowing the consequences of climate change is becoming a “respectable” long-term investment issue among investors, according to the chief executive of the London Pensions Fund Authority.
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Dutch schemes want more time before pay vote
NETHERLANDS - Thirty large Dutch pension funds want more time before a vote on the remuneration policy for board members of companies.
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CalPERS confirms Feckner as president
US – The $182bn (€139.4bn) California Public Employees’ Retirement System, under attack from state governor Arnold Schwarzenegger, has elected Rob Feckner as president.
