ESG: Do Fund Managers Practice What They Preach?

Segal Marco Advisors requested its top 100 managers by assets complete a questionnaire of the firm’s internal Evnvironmental, Social and Governance (ESG) policies and practices. The survey’s 24 questions focused on the practices of the firm, not of the underlying investments. The range of questions included measures like employee tenure and development programs and claims…

Nuns revolt over virtual AGM snafus

Earlier this week, more than 37 per cent of investors voted against Standard Life Aberdeen’s proposal to convene future shareholder meetings remotely, marking the first significant revolt against a virtual shareholder meeting by a UK company this year. In the US, the Interfaith Center on Corporate Responsibility, whose members include frequent shareholder proposal filers such…

ESG Outperformance Due to Supply Chain Risk Management

Why have companies with good ESG ratings outperformed in the recent crisis? That is a question many investors are asking now. And on Wednesday Tensie Whelan of NYU Stern Center for Sustainable Business had an interesting new answer to offer: supply chains. Speaking with Paul Polman (head of Imagine), Chris Pinney (founder of High Meadows)…

Hertz (HTZ) Seeks $70M in Clawbacks Tied to Accounting Scandal – Bloomberg

Hertz Global Holdings Inc. is demanding that ex-Chief Executive Officer Mark Frissora and other former senior managers return at least $70 million of incentive compensation for their roles in an accounting scandal five years ago. Mark FrissoraPhotographer: Andrew Harrer/Bloomberg The car-rental chain accused the former executives of pressuring employees to use fraudulent accounting techniques to…

The Insidious Vocabulary of CEO Compensation

As you can imagine, a lot of energy and creativity is going into figuring out how to make sure executives do not lose their bonuses because of COVID-19 economic uncertainty. We are watching this closely as it subverts the entire concept of incentive compensation if it is all upside and no downside. Incentive compensation is…

Supplemental Comments on SEC Proposed Rules: Proxy Advisors and Shareholder Proposals

ValueEdge Advisors has submitted two more supplemental comments on the SEC’s proposed rules on proxy advisory firms and shareholder proposals. We are grateful to James McRitchie for giving us permission to include his excellent research on the support for governance-related shareholder proposals. The full text of both comments are linked below. SEC supplemental comment on…