A huge investor coalition has called on national governments to accelerate policy changes that will support investment in climate change solutions. A group of 587 investment firms with a collective $46 trillion in assets under management yesterday issued a statement urging governments to take a range of actions, from strengthening emissions targets to mandating climate…
Category: activism
Activision Blizzard, sued for its workplace culture, is facing investor pressure from the Strategic Organizing Center.
The Strategic Organizing Center (formerly Change to Win) is a democratic coalition of four labor unions: Service Employees International Union (SEIU), International Brotherhood of Teamsters (IBT), Communications Workers of America (CWA) and United Farmworkers of America (UFW). Together, SOC-affiliated unions represent more than 4 million workers. In an interview with Slate, SOC’s research director, Richard Clayton,…
Shareholder Commons: First Annual Report
“TSC is a new NGO that is catalysing a paradigm shift in responsible investment.” … In their first year of activity, they have begun to build a field of asset owners, asset managers, advisors, and civil society organisations who want a new toolkit to ensure that profits are aligned with social cohesion and environmental preservation. They…
Agenda – Investors To Back Off Say-on-Climate Proposals
What Agenda calls backing off may just be a shift in response to the forthcoming SEC rulemaking on climate disclosure. Last year CIFF, along with several supporting partners including CDP, the nonprofit formerly known as the Carbon Disclosure Project, and ESG charity ShareAction, began a new, three-pronged initiative to push companies in the U.S. and…
Companies Agree to Support Paris-Aligned Climate Policy | ICCR
Building on the groundbreaking majority vote in support of a proposal on climate lobbying at Chevron’s 2020 annual meeting, investor members of the Interfaith Center on Corporate Responsibility are announcing agreements reached with five companies on similar proposals requesting a report on if and how the companies’ lobbying activities (direct and through trade associations) align…
Activist Stewardship
Highlights from a new article on hedge fund activism on behalf of long-term shareholder value, from Robert Eccles (Oxford University), Aeisha Mastagni (CalSTRS), and Kirsty Jenkinson (CalSTRS): The time has come for “activist stewardship.” Simply put, this means putting the skills and techniques of activist hedge funds to work where a company’s financial performance is…
Activist Investors Nominate Nine Directors to Kohl’s Board – WSJ
A group of activist investors has a big stake in Kohl’s Corp. KSS 8.48% and is attempting to take control of the department-store chain’s board, according to people familiar with the matter. A group that includes activists Macellum Advisors GP LLC, Ancora Holdings Inc. and Legion Partners Asset Management LLC, as well as 4010 Capital…
Proxy Contest at Exxon
Engine No. 1 has formally nominated the four directors it intends to install to Exxon’s board, launching a campaign the activist says will “ensure a clean break” for the oil major. The move comes less than two months after newly established activist Engine No. 1 wrote a letter to Exxon’s board criticizing the company’s performance….
Make climate risk reports mandatory for 480 FTSE firms, say investors | Environment | The Guardian
An influential group of investors is urging UK regulators to make climate risk reporting mandatory for nearly 500 FTSE-listed firms. The Investment Association (IA), which represents 250 members with £8.5tn in assets, has thrown its weight behind calls for compulsory environmental disclosures, amid concerns that listed companies are not being transparent about how climate risks…
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…
ValueEdge Advisors 