CEO stakeholder commitments illusory claim Harvard duo Research conducted by two renowned Harvard academics has cast doubt on the commitments made a year ago by 181 CEOs affiliated to the Business Roundtable trade group. Twelve months ago, business leaders at some of the world’s biggest companies pledged that they would consider the interests of all […]
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UK commits to new accounting watchdog, despite delays The UK government has pledged to push ahead with a new authority to oversee corporate governance standards, following criticism from a top business committee over its inaction to date. In an open letter to the Business, Energy and Industrial Strategy (BEIS) committee, the government promised to push […]
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Investors declare “a change is gonna come” Asset owners and fund management groups are pressuring their portfolio companies to look at the makeup of their leadership teams in the wake of the Black Lives Matter protests. The under-representation of non-white ethnicities in the boardroom has been a concern for investors for some time, but the […]
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Investors ask SEC to intervene on Covid disclosures A group of investors have called on the Securities and Exchange Commission to force companies to disclose how the Covid-19 pandemic has affected their business operations. Representatives from 98 asset owners, fund managers, public interest groups, lawyers and trade unions, have asked the SEC to consider new […]
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FRC reports highlight benefits of Covid disclosures Investors require “clear and timely” disclosures from companies during the Covid-19 pandemic to inform decision-making and drive capital allocation. Two new reports from the Financial Reporting Council have attempted to break down what investors need from companies during the current period of uncertainty. The FRC has recommended that […]
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Boardroom woes sees more departures from EasyJet Further turmoil has gripped budget airline EasyJet after two board members announced their departure amid the ongoing bitter row between the leadership team and founder Stelios Haji-Ioannou over a plane order. EasyJet ordered more than 100 aircraft worth £4.5billion from Airbus in 2013, which chief executive Johan Lundgren […]
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Regulators: Beware of climate risks in actuarial forecasts Regulators are warning that risks from climate change pose a significant threat to the quality and accuracy of actuarial work. This latest warning from the Joint Forum on Actuarial Regulation – which includes representatives from the Financial Reporting Council, Financial Conduct Authority and the Pensions Regulator – […]
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Report: Fossil fuel bank lending could torpedo capital markets Rules governing lending to fossil fuel-intensive companies need tightening to protect investors and the financial stability of capital markets, a report has warned. In its report, Breaking the Climate Finance Doom Loop, the Finance Watch lobbying group said action taken by regulators to date had been […]
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Carney: Data interpretation key to zero carbon transition Investors must learn how to interpret, and apply, the increasing volume of ESG data if they are to formulate successful strategies to tackle climate change, according to the former Bank of England governor Mark Carney. Addressing members of the Personal Investment Management and Financial Advice (PIMFA) trade […]
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IMF warns equity investors over climate risk Equity investors will increasingly have to consider the physical impacts of climate change on their portfolios, according to recent guidance from the International Monetary Fund. In a written update on its website, the IMF outlined the direct cost of severe weather events such as floods, forest fires and […]
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