More ESG news – Page 320
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EU’s Bolkestein to speak at ICGN conference
NETHERLANDS – The European Union’s internal markets commissioner Frits Bolkestein is set to speak at the International Corporate Governance Network’s ninth annual conference in Amsterdam in July.
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DeAM plans new activist shareholder stance
GERMANY - Deutsche Asset Management says it plans to take an activist approach to the running of companies in which it owns significant holdings.
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French asset managers increase SRI capability
FRANCE – French investment firms are rapidly expanding their socially responsible investment management capabilities, reveals a study by SRI information provider Novethic and consultant Amadeis
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Hermes backs UK’s Higgs proposals
UK – Hermes Pension Management has called for companies and investors to embrace the Higgs proposals on corporate directors.
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Minister to speak at World Pension conference
IRELAND – Ireland’s minister for social and family affairs Mary Coughlan is to make the keynote speech at the world Pension Association’s annual conference in Dublin later this month.
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Irish exchange chief sets up investment consultancy
IRELAND – The chairman of the Irish Stock Exchange has launched a new investment consultancy called Acuvest.
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CalPERS names and shames on corporate governance
US – CalPERS, the US’s largest pension fund, has named and shamed those companies on which it will be focusing its corporate governance activism in the coming proxy season.
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PGGM and USS in emerging markets drugs plea
EUROPE – Dutch healthcare and social services pension fund PGGM and the UK’s Universities Superannuation Scheme education fund are among 12 institutions calling on drugs firms to make medicines more accessible in emerging markets.
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Seymour Pierce in asset management talks
UK – Financial services firm Seymour Pierce says it is in “advanced talks” to sell its asset management division, Pavilion Asset Management.
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Higgs review gaining support
UK – Much of the criticism of the Higgs Report into UK boardroom management appears to be the result of a lack of understanding - rather than any fault of the proposals themselves.
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UK sticks by trustee legislation
UK – The government says it will legislate to require the “appropriate expertise” from pension fund trustees.
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Some surprises in new UK CSR index
UK – There are some perhaps unexpected names – including oil, chemicals and mining companies – topping the first UK corporate social responsibility index launched today.
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CoreRatings hires ex-Morley SRI head
UK – Socially responsible investing consultancy CoreRatings, which is part of the same group as Fitch Ratings, has named Anne-Maree O'Connor as its new head of research.
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ABP affiliate Innovest unveils “carbon beta”
UK – We may in future be talking of portfolios in terms of their “carbon beta” if a project in which Dutch pension fund ABP has a stake takes off.
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CalPERS, CalSTRS highlight offshore tax havens
US – A group of US institutional investors, retirement funds and unions, including pension funds CalPERS and CalSTRS, have taken out a full-page advertisement in the Wall Street Journal urging Tyco and other expatriate companies to leave their offshore tax havens and return to the US.
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London exchange chief slams tax on pension funds
UK – Chancellor Gordon Brown’s five billion pound (7.3 billion euro) tax on dividend income paid by pension funds has been described as a threat to the position of the City of London – the UK’s financial heartland - by London Stock Exchange chief executive Clara Furse.
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Innovest hires ex-Fitch research head
UK – Andy White, the former managing director of research at ratings agency Fitch, has joined Innovest Strategic Value Advisors’ London office.
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Regulators’ crucial in consolidating stock markets
GLOBAL – Further consolidation of the world’s stock exchanges in a trend to a single global equity market is being predicted by Avinash Persaud, global head of research at State Street Global Advisors, but he warns that regulators must exercise their influence correctly.
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Harrigan is new president at CalPERS
US – The board of administration of CalPERS, the California Public Employees Retirement System, has elected Sean Harrigan as its president and Rob Feckner as vice president for 2003.
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UK sets up corporate governance office
UK – The UK government is setting up a new office that will become a “centre of expertise” on corporate governance issues.
