More ESG news – Page 321
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Firms petition European Commission on SRI
EUROPE – Fifty European organisations, businesses and professionals have submitted a formal petition to the European Commission to include provisions related to social responsibility in its new directives on prospectus obligations.
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UK to review Myners principles
UK – The UK government is to review whether the non-legislative Myners Report on investment principles for occupational pension schemes is working two years after the original report was published.
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ABN Amro takes e804m pensions charge
NETHERLANDS – Dutch bank ABN Amro has taken a net charge of 804 million euros under US accounting rules relating to its pension obligations.
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NAPF hires ex-JPM chief for corporate governance
UK – The National Association of Pension Funds has appointed Geoff Lindey, ex-head of UK institutional investments at JPMorgan Investment Management, as strategic advisor to its corporate governance team.
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New UK pensions consultant Epic spies niche
UK – In the current environment, you might think it would not be advisable to start a new pensions business, but Epic Investment Consulting thinks it’s found a worthwhile niche
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UK’s ABI sets up corporate governance web site
UK – The UK insurance industry trade body the Association of British Insurers is to launch a corporate governance web site in March. The launch will be marked by a conference on corporate governance.
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SAM and Monte Paschi in Italian SRI assault
SWITZERLAND/ITALY – Monte Paschi Asset Management and SAM Sustainable Asset Management have established an agreement to work together in an attempt to become the market leader in sustainability investments in Italy.
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Morley FM in European SRI expansion
UK/Netherlands - Morley Fund Management is to roll out its SRI fund range into the Netherlands in March this year..
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ABP takes 10%-15% stake in SRI firm Innovest
NETHERLANDS - Stichting Pensioenfonds ABP, Europe's largest pension fund, has bought a 10%-15% stake in socially responsible investing investment research and advisory firm Innovest Strategic Value Advisors for an undisclosed sum.
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UK trustees see corporate governance impact
UK – Reflecting the higher profile corporate governance is now taking for the pension industry, a survey of UK pension trustees reveals that a majority see good corporate governance as the most important factor in the performance of UK stocks in the long term.
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AIMR calls for investors’ interests to come first
US – Following a string of corporate scandals, the Association for Investment Management and Research has made a plea for investors’ interests to come first.
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UK: Higgs governance proposals welcomed
UK – A new set of proposals aimed at reforming the role of non-executive directors in UK companies has been broadly welcomed by the industry, though some say institutional shareholders will have to do their bit as well.
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Pensions on agenda at World Economic Forum
SWITZERLAND – The impact of pensions on government finances and financial markets is on the agenda at the World Economic Forum’s annual meeting in Davos, Switzerland this week.
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Crestco to launch electronic proxy voting
UK – Crestco Ltd., the UK subsidiary of Euroclear, is to launch an electronic proxy voting service on January 20 in response to increasing market demand.
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UK’s South Yorkshire reappoints PIRC for SRI
UK – The 2.6 billion pound (3.9 billion euro) South Yorkshire Pensions Authority has reappointed Pensions Investment and Research Consultants for three-year corporate governance and socially responsibility investment mandates. The size of fee was not disclosed.
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Green Paper lacking on custody - Northern Trust
UK – Custody services provider Northern Trust says the government’s recent pension reform proposals did not address a key aspect of the Myners report dealing with the independence of custodianship.
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Hermes governance fund wins $100m Calpers backing
EUROPE/US – Calpers, eyeing a “tremendous opportunity”, has approved a 100 million dollar investment in a Hermes corporate governance fund which targets underperforming companies.
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Sweden’s AP3 taps CoreRatings for SRI
SWEDEN – The 13.9 billion euro AP Fonden 3 Swedish pension fund says it has hired consultancy firm CoreRatings to provide socially-responsible investing advice, adding that it will take an active role in the companies in which it invests.
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SPK to invest e31m in Scottish Widows’ SRI fund
SWEDEN – Sweden’s 1.2 billion euro Sparinstitutens Pensionskassa pension fund will invest 31 million euros in Scottish Widows’ Investment Partnership’s European socially responsible investment fund.
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PIRC calls on trustees to take responsibility
UK – Pension fund trustees must take more responsibility for overseeing investment strategy, and must use their power as shareholders to intervene at underperforming companies if markets are to be reformed, says Pensions Investment Research Consultants, or PIRC.
