Proxies? Proxy voting service? Proxy voting agency? Proxy advisor? Every AGM season throws up a host of questions about proxy voting and how shareholders vote their shares. Shareholder voting is a complex, legal process and in most jurisdictions is bound by company law (as in the UK). In other markets, such as North America, stock exchanges or […]
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The Insurance Regulatory and Development Authority of India (IRDAI) has published a draft stewardship code for insurers in their role as institutional investors managing funds on behalf of policyholders. The IRDAI said: “Considering the fiduciary role played by the insurance companies as investors on behalf of the policyholders, it is felt that greater transparency is needed as […]
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Peter Damgaard Jensen, chief executive of the large Danish pension fund manager PKA has become chairman of the Institutional Investors Group on Climate Change (IIGCC). Jensen took over from Donald McDonald, who has also retired from his post as a BT Pensions trustee director, at the beginning of the year. The IIGCC currently has over 130 […]
Read MoreA revised corporate governance code came into effect on 1st January 2017 in the Philippines. The code has been developed by the IFC, a member of the World Bank Group, and the Philippine Securities and Exchange Commission (SEC) with the aim of improving the competitiveness of listed companies in the country and their ability to attract foreign […]
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The International Organization of Securities Commissions (IOSCO), which represents global financial regulators, has published a statement on implementation of new accounting standards related to revenue, financial instruments, and leases. The three new International Financial Reporting (IFRS) Standards, issued by the International Accounting Standards Board, are expected to significantly affect the financial statements of many issuers globally, IOSCO […]
Read MoreThe UK’s Financial Reporting Council (FRC) has announced that in 2017 it will carry out a number of targeted thematic reviews of company reporting and audit on issues it knows to be of shareholder interest and where weaknesses have been identified. In respect of corporate reporting the FRC said it would be writing to companies […]
Read MoreThe UK government’s widely trailed corporate governance green paper has focused, as expected, on executive pay and stakeholder representation at companies as well consulting on corporate governance rules for large privately owned companies. Manifest welcomed the consultation particularly the Government’s questions in relation to proxy advisors and other shareholder advisors who support investment managers and asset owners in their […]
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The think tank CDP released its latest global water report for 2016 at the UN’s COP 22 Climate Change meeting in Marrakesh, Morocco which took place this week. The report highlights how companies are managing water risks as the global climate changes and is seen as critical in meeting climate change targets now the Paris Agreement has entered […]
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Quality of Sustainability Reporting Slammed Uncertainty about ESG Risks Exclusion remains dominant theme in Europe The sustainable and responsible investment sector continues to grow and evolve across Europe according to the latest survey by Eurosif while a survey by RBC Global Asset Management in the US found that more capital than ever is being put […]
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Set against a backdrop of stagnant economic growth and societal discontent with the political status quo, global investors and corporations face ever growing risks and challenges. Having initially stabilised the sinking ship in the immediate aftermath of the GFC, governments, regulators and institutions around the world are now turning their attention to the role of business and […]
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