Investor Mining and Tailings Safety Initiative | The Church of England

The Church of England Pensions Board and the Council on Ethics of the Swedish National Pension Funds convened a global tailings summit to review the progress of the industry 9 months after the disaster at Brumadinho.  This summit included:  Release of Phase 1 of a new project: the New Global Independent Tailings Database, including initial…

Wake Up Call for Corporate Leaders on ESG, Sustainability, and Engagement

Edelman’s 2019 “Trust Barometer” shows a strong swing toward ESG and sustainability from investors. We believe the first of their conclusions listed below is misleading. It cannot be emphasized too strongly that sustainability by its very definition is not a trade-off for returns; it is essential for returns, both present value and long-term, as the…

Long-term matters: How capitalists can save the Amazon from capitalism

When foundations and wealthy individuals launched their Rapid Response-Able Fund (RRAF) in spring 2020, commentators sneered at the “save the world” motivation while others said it would distract attention from the political changes that were needed. But at $10bn (€9bn), with plans to scale quickly to $100bn, interest in corporate boardrooms snowballed. RRAF would target…

Shareholder Rights Directive II fact sheet – GOV.UK

New guidelines for UK fund managers: Occupational pension schemes are required to document and disclose online their policy on engaging with investee companies, their investment strategy and their arrangements with asset managers. The Pensions Regulator will update their guidance with regards to engagement, investment strategy and asset manager arrangements. Trustees have an important role to…

Converging on climate lobbying: aligning corporate practice with investor expectations | Reports/Guides | PRI

PRI’s new guidance for engagement on corporate climate denial and lobbying: nvestors are increasingly scrutinising corporate engagement on climate policy as it plays a critical role in helping governments create practical climate policy solutions. However, corporate engagement on climate policy is a double-edged sword.  Negative and resistant corporate interest, often represented by third-party organisations, can…

Investors turn up the heat on governments over climate change – CNN

Investors managing assets worth $35 trillion are sending a message to governments and companies: Do more to fight climate change. A group of 515 investors on Wednesday urged policymakers to act with the “utmost urgency” to comply with the goals of the 2015 Paris climate agreement, which seeks to limit global warming. “Much more needs…

A $750 Billion Midwest Fund Group Pushes for Board Diversity – Bloomberg

A group of 11 pension and union funds with a collective $750 billion in assets has picked up the mantle [on board diversity in small and mid-size companies]. Called the Midwest Investor Diversity Initiative, the group, which includes the United Auto Workers Retiree Medical Benefits Trust, the Illinois State Treasurer’s Office and the Ohio Public…

Investors discuss future of ESG engagement at Sustainable Finance Forum | IR Magazine

A large UK pension manager gave a frank and detailed description of engagement with oil and gas companies, relating to enhanced disclosure and increased action on climate initiatives, particularly the 2C degree scenario. He emphasized the need for more ‘credible’ institutional leaders to ‘step up’ regarding climate issues, and suggested that the media could be…

WSJ: Giant Investors Are Coming After One of Wall Street’s Cash Cows

Liz Hoffman and Geoffrey Rogow write about direct contact between the largest investors and their portfolio companies in the Wall Street Journal. While it applies to the functions related to research and deals usually undertaken by financial intermediaries, it is likely to have an impact on governance and ESG-related engagement as well. Wall Street’s role…