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…

Majority Action Wants Former Exxon CEO Off the Board of JPMorgan

Few people are in a position to influence Jamie Dimon, the chief executive who turned JPMorgan Chase & Co. into the biggest U.S. bank. The longtime climate skeptic who turned Exxon Mobil Corp. into the biggest U.S. oil company is one of them. Lee R. Raymond, 81, holds the top position on JPMorgan’s 11-member board…

The World’s Most-Profitable Hedge Fund Is Now a Climate Radical – Bloomberg

The hedge fund industry has no shortage of aggressive, in-your-face players, but few are as tough as Chris Hohn. The British billionaire takes the typical playbook to new levels—scuttling deals, pushing to remove bosses, and battering companies with litigation and threats. One opponent was so peeved after losing a boardroom battle with Hohn that he…

Board of tech group Inex to step down amid governance row

Big corporations are in favor of activism and engagement when they are investors. The entire board of tech group Inex will step down following pressure from some of its leading members, including Google and BT Ireland, arising from a corporate governance row. In an email to members shortly before Christmas, the company confirmed that three…