Category: international corporate governance

UK pension funds target BP and Shell directors over climate goals- FT | Reuters

Two of the UK’s largest pension schemes will vote against the renewal of top directors at BP Plc (BP.L) and Shell Plc (SHEL.L) at their annual meetings unless both companies strengthen commitments to tackling carbon emissions, the Financial Times reported on Sunday. The plan by Britain’s Universities Superannuation Scheme (USS) and Borders to Coast, which…

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Europe: Say-on-climate voting is on the up, but support falls

Say-on-climate voting is on the up, but investor support falls by Gavin Hicks Support for say-on-climate proposals has dropped off year on year, though the number of votes— which are currently voluntary—has greatly increased, according to new research. There is also an emerging divide among shareholders. European fund managers appear to be increasing their dissent,…

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Shareholder participation on the rise in the UK | Financial Times

UK retail investors are taking a more active role in their holdings, according to data showing a surge in voting participation among shareholders. Some 210,000 shareholder votes were processed by fund supermarket Interactive Investor in 2022, a 30 per cent increase on the previous year. The boost came in the first full year since the…

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What Does the EU’s $414 Million Fine Mean for Meta and Social Media?

Matt Steib reports in New York Magazine: 2022 was a rough year for Meta with shares of Mark Zuckerberg’s company dropping 64 percent by the end of December. And so far 2023 isn’t going much better. On Wednesday, European Union regulators determined that Facebook, Instagram, and WhatsApp — all owned by Meta, which is based in Ireland for tax…

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The ‘G’ In ESG: Exploring the impact of corporate governance

Despite this, ESG goes beyond an isolated consideration of ‘E’ and ‘S’. In fact, by leaving governance factors out of the decision-making process altogether, organisations risk missing a crucial opportunity to fully leverage the power that comes with embedding sound corporate governance and risk management systems into their corporate pillars.This can spell disaster in a…

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Audit watchdog to overhaul UK corporate governance code | Financial Times

The UK’s corporate governance code will be overhauled for the first time in four years with new rules to make boards more responsible for fraud and their company’s finances, and strengthen accountability for bad behaviour. The Financial Reporting Council, which oversees the audit industry, on Tuesday laid out plans to carry out recommendations made by…

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Larry Fink Is Wrong About the Impact of the Russian Invasion on Globalization

In his annual letter to shareholders, Blackrock’s Larry Fink says that the response of the business community to Russia’s invasion of Ukraine signals “an end to globalization.” He’s wrong. It’s just the opposite. He writes: The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades….

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Proxy advice law which sparked fears it would reduce investor activism defeated in the Senate – ABC News

Australia’s parliament has thrown out the new restrictions on proxy advisory firms. Three days after they were introduced into federal parliament, the Senate has overturned Treasurer Josh Frydenberg’s regulations on proxy advisers. Proxy advisers are the people who advise big investors, including superannuation funds, on how to vote on issues impacting the re-election of company directors. Board…

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