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…

Preparing for Post-Pandemic Corporate Activism

Pre-pandemic, activists found new acceptance among institutional investors as they focused on unlocking value, creating efficiencies, and operating in a global environment with a focus on corporate and social responsibility governance issues. In what might be seen as a direct response to this trend, in August 2019, a group of 181 chief executives signed a…

JPMorgan Chase removes Climate Change Denier and Former Oil Company CEO from independent director role | Financial Times

JPMorgan Chase has promised to announce a new lead independent director by the end of September, bringing an end to the 19-year tenure of former ExxonMobil chief Lee Raymond and satisfying demands for change led by New York City’s comptroller and climate groups.  America’s biggest bank revealed the timetable for appointing Mr Raymond’s successor in documents filed ahead of its May 19…

Church of England fuels ExxonMobil rebellion with open letter | News | IPE

he Church Commissioners for England and New York State Common Retirement Fund (NYSCRF) have written an open letter to ExxonMobil shareholders asking them to call for change in the company’s governance and strategy, by their votes on three specific issues at the company’s annual general meeting on 27 May. Investors are being asked to: Vote…

Investors Call on Corporate Managers to Adopt COVID-19 Policies

From the Interfaith Center on Corporate Responsibility: We are 195 long-term institutional investors representing over $4.7 trillion USD in assets under management with global exposure across capital markets. We recognize the long-term viability of the companies in which we invest is inextricably tied to the welfare of their stakeholders, including their employees, suppliers, customers and…

Teamsters take aim at executive bonuses at drug distributor AmerisourceBergen

The Teamsters are asking for a hold on AmerisourceBergen CEO’s pay due to pending liability for the company’s involvement in opioids. nvestors are exposed to those costs, the Teamsters say. And they argue that a bonus deferral program is a “critical” accountability measure that would give the company’s board a longer horizon to decide whether…

Jupiter Backs Barclays Shareholder Resolution on Climate Change – Bloomberg

Jupiter Asset Management has thrown its weight behind a shareholder campaign urging Barclays Plc to set out how it will stop financing energy firms that don’t align with the Paris Agreement climate goals. The London-based fund manager joins around a dozen institutions including Amundi SA to back what supporters say is the first climate change…

JPMorgan rejects calls to disclose lending’s impact on climate | American Banker

JPMorgan Chase is resisting proposals from activist investors that would require it to take stock of the impact its lending activities are having on climate change. Several members of the Interfaith Center on Corporate Responsibility want to put several climate-related proposals to a shareholder vote that would, among other things, ask the bank disclose how…