Five myths about shareholders — Christopher Marquis

Cornell professor Christopher Marquis writes this week’s “Five Myths” column in The Washington Post. We don’t agree with all of his points; most important, we believe that there is no trade-off of profitability in managing risk by incorporating sustainability concerns, and we note that most American workers are “small shareholders” via retirement plans, 401(k)s, or…

COVID-19 and Activism

From Sidley Austin: As the COVID-19 pandemic began to unfold in the US in early March, it quickly became clear that the crisis would act as a “poison pill” that would sharply reduce shareholder activism in the spring. Initially, many activists were preoccupied with their own survival and/ or attracting new capital rather than launching…

Boohoo Group PLC vows to rectify failings but margins remain a question

Boohoo Group PLC (LON:BOO) has vowed to address its corporate governance responsibilities after an independent review confirmed poor working conditions and low rates of pay in its supply chain. The report found that Its senior directors “knew for a fact that there were very serious issues about the treatment of factory workers in Leicester and…

Activist Trian Fund Management Takes Stake in Comcast – WSJ

Tough when the insiders have controlling shares, but then Trian is pretty savvy. It will be interesting to see where this goes. Trian Fund Management LP, a hedge fund known for pushing big companies to make operational and other changes, has launched an activist campaign against Comcast Corp. in a bet that the cable-TV and…

Climate risk & board conflicts at Standard Bank – Just Share

n 8 June 2020, 14 climate justice NGOs led by Just Share wrote to asset managers with shares in Standard Bank Group Limited (Standard Bank), calling on them to vote against the election of five climate-conflicted directors at the bank’s AGM on 26 June. Seven of Standard Bank’s 18 board members have close ties to…

Investor Mining and Tailings Safety Initiative | The Church of England

The Church of England Pensions Board and the Council on Ethics of the Swedish National Pension Funds convened a global tailings summit to review the progress of the industry 9 months after the disaster at Brumadinho.  This summit included:  Release of Phase 1 of a new project: the New Global Independent Tailings Database, including initial…