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…
Tag: proxy voting
As Markets Fall, Governance Rises in Importance | Morningstar
“Only when the tide goes out do you discover who’s been swimming naked.” Warren Buffett’s famous analogy highlights how a downturn in the strength of the markets or the economy, reveals previously-hidden risks and weaknesses for companies and investors. Although many investors have recently given most of their attention to the “E” and “S” parts…
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…
ISS Proxy Guidance Updates: Climate Change, CEO Pay, Political Contributions, Diversity, “Problematic Governance”
Each year, Institutional Shareholder Services updates its proxy voting policies based on feedback from its clients and current developments. Highlights from the updates for US companies in 2023 (emphasis added in italics). Climate Accountability For 2023, for high emitting companies – identified as those in the Climate Action 100+ Focus Group – ISS is extending the framework for all…
Highlights of the new DOL/EBSA Rule on ESG
Emphasis added. Full text of the rule.
US Department of Labor announces final rule to remove barriers to considering environmental, social, governance factors in plan investments | U.S. Department of Labor
We are delighted that the DOL/EBSA has issued a new rule on ESG and proxy voting, making it clear that ESG factors are a legitimate concern for ERISA fiduciaries in assessing risk and return. The rule takes effect in 60 days except for some of the proxy voting provisions which will take effect in a…
SEC Orders Enhanced Reporting of Proxy Votes By Investment Managers
Statement by Commissioner Caroline A. Crenshaw on the SEC’s updated proxy vote disclosure rules: Commission rules often focus on corporate transparency and helping investors understand how their money – their ownership stake of U.S. companies – is used. Today’s rule does just that. When the Commission adopted Form N-PX in 2003, it stated that investors…
The 70 BlackRock Analysts Who Speak for Millions of Shareholders – WSJ
On one hand, the concentration of share ownership has addressed some of the issues connected to the separation of ownership and control. On the other hand, there are still intermediaries between the beneficial holders and the companies whose stock is held on their behalf. This is all the more reason for a strong, enforceable fiduciary…
Monks and Minow Comment to DOL/EBPA on Pension Fund Fiduciary Proxy Voting and ESG
VEA Chair Robert A.G. Monks and Vice Chair Nell Minow have filed a comment with DOL/EBSA on the proposed rule covering proxy voting and ESG factors for pension fund fiduciaries. We strongly endorse the rule, point out the conflicts and deceptions of those supporting the previous rule, and discuss the collective choice problem as it…
Proxy Voting 2021: Report from Sidley, Insightia, Okapi
We highly recommend the new report from Sidley, Insightia, and Okapi on proxy votes in 2021. Some highlights: The 2021 proxy season was revolutionary in many respects, as investors used their voting powers to communicate their expectations to issuers on a variety of concerns. Investors exhibited renewed interest in a myriad of ESG issues, including…
ValueEdge Advisors 