Alpha Investor’s Charles Mizrahi on God, Capitalism, and ESG

VEA Vice Chair Nell Minow interviewed Alpha Investor’s Charles Mizrahi for Medium about his article on the Biblical basis for capitalism. An excerpt: Over time the “invisible hand of the market” encourages compassion and generosity. Consumers patronize companies that are more socially responsible. Companies that are not, will see a loss of market share. End…

Did Goya’s CEO endorse Trump to prevent a buyout and keep his job?

We’ve heard a lot of crazy and colorfully named anti-takeover devices and strategies over the years, from chewable poison pills to greenmail, golden parachutes, and the Jewish dentists defense, but this is unquestionably the nuttiest, as possibly also the most destructive of shareholder value. [Goya CEO] Bob [Unanue] knew, when he said that [he supported…

A “Tectonic Shift” Toward Sustainability: BlackRock Investment Institute

A focus on sustainability can help make portfolios more resilient. We believe the adoption of sustainable investing is a tectonic shift that will carry a return advantage for years to come – and the coronavirus shock seems to be accelerating this shift. via Global Weekly Commentary | BlackRock Investment Institute A commonly held view is…

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…

Are Boards Talking About ESG? Pearl Meyer

This is disappointing. The panel suggests they need to look at ESG to respond to proxy advisors and investors. They need to look at ESG for the same reason proxy advisors and investors do; to better assess investment risk and return.

Is ESG All About the ‘G’? That Depends on Your Time Horizon. – MSCI

While governance showed more financial significance in the short term, environmental and social issues’ contributions to stock-price performance unfolded largely over our full 13-year study period. As opposed to “event” risks that were more immediately priced in by investors, some issues, such as carbon emissions, presented a risk of “erosion” to competitiveness over time and…

ISS’s Lorraine Kelly Responds to SEC Rule on Proxy Advisors

Lorraine Kelly, head of governance business at ISS, writes in Barron’s about the SEC’s proxy advisory rule. An excerpt: Since last year, the Securities and Exchange Commission has been swept up in a well-funded corporate lobbying campaign pressing for enactment of onerous regulations that will make it more difficult for shareholders to voice disagreement with…