Responsible investment pressure group ShareAction has welcomed the UK government’s interim response to recommendations made by the Law Commission earlier this year which concluded that there were no legal or regulatory barriers to pension funds, whether defined contribution or defined benefit, making investments that support the wider social good. In the joint response document, the Department for […]
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The Task Force on Climate-Related Financial Disclosures (TCFD) has revealed it has public support from 237 companies with a combined market capitalisation of over $6.3 trillion, which includes 150 financial firms responsible for assets of over $81.7 trillion. The TCFD announced the growing support at the One Planet Summit hosted by French President Emmanuel Macron, […]
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US institutional investors have written to the Securities and Exchange Commission (SEC), following a meeting with the financial regulator voicing their public support for the SEC’s Rule 14a-8 which provides them with the right to put forward resolutions at company meetings. For advocates of the system of non-binding shareholder resolutions or proposals at US company meetings, […]
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The quality and quantity of dividend policy and practice disclosures have improved in the UK, according to a study conducted by the Financial Reporting Council’s (FRC) Financial Reporting Lab. The study examined how companies had responded to the Lab’s earlier report, Disclosure of dividends – policy and practice, published in 2015. This report recommended improvements to dividend policy and […]
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The Securities and Exchange Commission of Pakistan (SECP) is consulting on a corporate governance code for the country’s listed companies which have been issued as draft regulations under the recently passed Companies Act 2017. The SECP said the Listed Companies (Code of Corporate Governance) 2017 draft regulations are aimed at strengthening governance structures, bring consistency […]
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The UK government is to require companies to publish pay ratios between chief executives – based on their total remuneration – and their average UK worker. This was among the actions outlined in the government’s response to its corporate governance green paper consultation which ended earlier this year. The government said that the pay ratio information: […]
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Two private investors are taking legal action against Commonwealth Bank of Australia (CBA) for failing to adequately disclose climate change risk in the bank’s 2016 annual report. The shareholders are being represented by Environmental Justice Australia which has filed a claim against the bank in the country’s federal court. Environmental Justice Australia said that the proceeding was […]
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A coalition of 79 institutional investors from 10 countries, with nearly $8 trillion assets under management, coordinated by the responsible investment group, ShareAction, have backed a demand that companies disclose more information on how they manage their global workforces. The investors, which include Schroders, HSBC Asset Management, Axa Investment Managers, Legal and General IM, Nordea, APG, and […]
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The Financial Stability Board (FSB) welcomed the publication this week of the final report by the industry-led Task Force on Climate-related Financial Disclosures (TCFD) which included recommendations for effective disclosure of climate-related financial risks. Over 100 company bosses with a combined market cap of around $3.5tn and financial institutions responsible for assets of about $25tn […]
Read MoreIn a sign of disquiet about the acting chair of the US Securities and Exchange Commission (SEC), Michael Piwowar, Democratic Senators have suggested that he has overreached his authority in a letter to the regulator’s inspector general, Carl Hoecker. The Senators point out that Piwowar’s position is temporary until President Trump’s nominee for the position, Jay Clayton, […]
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