Responsible Investor

Denmark’s ATP “gratified” asset firms Goldman Sachs AM and PIMCO signed UN PRI

Fund giant says it engaged with managers to “induce” them to sign up

Environment, Feb. 7: Generation IM discloses stake in smart grid firm

RI’s regular review of environmental investing news

MSCI: Environmental, Social and Governance Trends to Watch in 2012

Accounting for natural capital, conflicting water demands and the shifting debate on climate change

RI Governance, Feb. 2: MSCI’s governance earnings slip in fourth quarter

RI’s regular review of governance developments

Ontario Teachers fund writes to 665 companies outlining exec pay expectations

Canada’s Teachers gets specific on remuneration

Norwegian pension fund meets resistance in US shareholder rights campaign

Western Union seeks to omit shareholder resolution from ballot

US investors push House of Representatives on forced labour law

House proposal would oblige companies to identify and report risks.

A third of Swedish companies making little sustainability progress despite local investor pressure

Sustainable Value Creation in Sweden reports second year findings.

Shareholders withdraw Pfizer lobbying resolution as company agrees to dialogue

Pharma giant commits to “future dialogue”

Vedanta Wal-Mart and Freeport most excluded companies in European investor sample: Novethic

15 most blacklisted companies listed by large investors.

FREE UK confirms binding shareholder votes on future executive pay

Government issues measures to address pay “disconnect”

New Dutch class action pay-out could lead investors to chase US claims in the Netherlands

Lawyers exploit Dutch Court of Appeals to get shareholder damages.

FREE Major investor coalition seeks disclosure of US corporate lobbying expenditure

Shareholder resolutions tabled at 40 blue chip companies

Siemens faces investor call at Jan 24 AGM to quit US Chamber of Commerce over bribery issue

German company faces ‘reputation risk’ say investors as DoJ reviews Foreign Corrupt Practices Act.

FREE China: manufacturing sector and social issues highest reported investor ESG risks: study

Environmental risks ahead as government policy tightens.

Bank of America seeks to omit NY funds’ proposal on mortgage foreclosures

RI People & Appointments, January 16: US SIF names four new board members

RI’s regular round-up of people news

FREE Planned UN climate fund ‘won’t get $100bn’, says World Bank climate chief

Flagship climate fund was agreed at Durban talks

RI Governance & Engagement, Jan. 12: CalSTRS votes against entire Aberdeen AM board

RI’s regular review of governance and engagement developments

MIT Sloan Survey: take up of business critical sustainability initiatives has reached tipping point

Number of companies profiting from sustainability lower but rising.

FREE Key EU Parliament committee backs financial transaction tax

MEPs say the “pendulum has swung” in favour of controversial tax

UK government indicates binding pay vote on the way: but will it work?

PM Cameron says there is a market failure on pay, so let the ‘market’ decide!

FREE €3trn investor group sets out to improve quality of engagement

Goal to make engagement “more rewarding” for investors and companies

RI Briefing, January 4: €5bn charity sector fund signs up to Stewardship Code

RI’s regular round-up of responsible investing news

SEC planning rules on disclosure of investors’ executive pay votes

New provisions under the Dodd-Frank Act

Bob Monks hits out at SEC plans to clamp down on shareholder voting advisers

ISS founder says proxy firms are the only service sector not “suborned” by corporate management.

FREE Dutch pension giant excludes Wal-Mart and PetroChina

Divestments over non-compliance with Global Compact

Olympus scandal highlights need for tighter focus on corporate governance in Japan

Increased levels of accountability and transparency are needed if Japanese companies are to attract long-term shareholders.

RI Governance & Engagement, Dec. 22: New York City funds hold big banks to account

RI’s regular review of governance and engagement news

RI Briefing, December 21: Microfinance transparency project winds down

RI’s regular round-up of responsible investing news

€55bn investor group presses Canadian government on extractives

Canada urged to sign up to industry transparency initiative

RI Briefing, Dec. 14: $4bn set to go into impact investments - JP Morgan

RI’s regular round-up of responsible investing news

FREE €9bn Church investors to exclude high interest-rate lenders

Ethical advisory group “not prepared to sanction” investment

ESG USA: US investor groups issue fracking risk recommendations for oil & gas companies

List compiled after lengthy risk engagement with companies.

NYC funds withdraw Hewlett-Packard sustainability proposal after engagement

Pension fund meeting with HP’s sustainability chief

FREE Norwegian Finance Ministry puts France’s Alstom on watch over corruption

FMC Corp. and Potash Corp. excluded over Western Sahara operations

Norwegian government fund seeks to nominate directors at big US firms

Norges makes its first ever ‘proxy access’ move

NBIM to publish written expectations on board accountability

One of six strategic focus areas for influential investor

MP warns investors about News Corp. computer hacking allegations

Local Authority Pension Fund Forum conference told of risks

RI Governance & Engagement, Dec. 1: Class action lawyers looking at Olympus

RI’s regular round-up of governance and engagement news

RI Briefing, Nov. 30: Global Reporting Initiative names new chairman

RI’s regular round-up of responsible investing news

FREE BSkyB AGM: 19% of shareholder votes go against James Murdoch

Shareholders make their views known at media company

Academic study finds flaws in corporate CSR reporting

Survey of 4,000 companies finds mistakes and omissions

California pension giant votes against entire BSkyB board

Investor pressure ahead of next week’s AGM

US sustainable investment forum raises concerns over integrated reporting (amended)*

US SIF fears diminished ESG reporting

FREE Singapore panel calls on shareholders to vote responsibly at AGMs

Engagement guidance released alongside new Corporate Governance Code

Church investors meet with FTSE-listed hotel chains over Olympic trafficking

Hotels in spotlight ahead of London games

US asset management firm comes out in support of Occupy Wall Street

Responsible investors backing protest movement

LAPFF opposes James Murdoch’s re-election as BSkyB chairman

Voting alert follows engagement and evidence before Parliament

FREE CalSTRS wants yearly reports on political contributions

Vote at giant fund’s investment committee formalises procedure

S&P-Dow Jones index merger creates ESG benchmark powerhouse

Index titans seal merger agreement

India’s struggle against corruption: what could the LokPal bill mean for companies and investors?

Anna Hazare’s campaign could start to break the cycle of graft.

RI Governance & Engagement, Nov. 3: €10bn UK fund tenders proxy voting

RI’s regular round-up of governance and engagement developments

FREE Bank of America chief to co-chair new UN sustainable energy group

Senior figures appointed by Secretary General

What’s in this week’s EU CSR Communication and Transparency Directive for investors?

A mixed bag of good intentions, but fewer concrete policy measures.

FREE HSBC, Microsoft and Coca-Cola back integrated reporting pilot project

More than 40 global corporations named as participants by IIRC

EU Transparency Directive outlines new extractives and logging company reporting standards

Country-by-country reporting will encourage accountability and governance of natural resources, says EU.

EU considers requiring all financial institutions to disclose responsible investment criteria

Sweeping “Responsible Business” proposals from European Commission

Dutch pension giants vote against Murdochs as CalPERS hails “winds of change”

“Strong signal” to directors pushing for change, says CalPERS’ Simpson

Investor group calls for James Murdoch to leave Sotheby’s and GSK boards

Union-affiliated CtW widens scrutiny on News Corp. director

RI People & Appointments, October 17: TIAA-CREF seks MD, Global Social & Community Investing

RI’s regular Monday review of people news

CalPERS to back innovative floor resolution calling for separate CEO/Chair at News Corp.

Giant pension fund to attend AGM and back Christian Brothers’ motion

New York City funds trigger Microsoft supply chain commitment

Software giant says it appreciates discussions with shareholders

RI Briefing, October 12: UK ethical investment reaches €12.9bn says EIRIS

RI’s regular round-up of responsible investing news

Investors back EU on enhanced disclosure for extractives companies

But letter to EU Commissioner, Michel Barnier, warns on legal conflict.

Pressure mounts on News Corp board as US proxy firms weigh in

ISS and Glass Lewis recommend director no votes.

£100bn UK pension fund group opposes Murdochs at News Corp AGM

Decision follows engagement with company

RI Governance & Engagement, Oct. 6: Pension case vs. ratings agencies gets go-ahead

RI’s regular round-up of governance and engagement news

Oil sands: a policy engagement role for responsible investors

An incomplete or uncertain regulatory environment can increase risk for both companies and investors.

The future of fish: investors get active on unsustainable fishing practices

Engagement could be a turning point for marine engagement.

Top 13 extractives giants own 6,000+ subsidiaries as EU mulls country-by-country reports for sector

Report says shareholders can’t measure potential risks to their investments.

Australian super funds urged to vote against News Corp directors

ACSI recommendations follow phone hacking scandal

RI Analysis: How judge rejected pension fund claim over Goldman bonuses

Investment bank defeats investors over bonus billions

RI Governance & Engagement, Sept. 22: Malaysia seeks to boost corporate disclosure

RI’s regular round-up of governance and engagement developments

Pension fund class action against US finance giant Hartford dismissed

Plaintiffs’ assumptions “faulty” says judge

ATP and others lose out in UBS mortgage-backed securities class action

Legal decision in credit-crisis related case

FREE Investor group quizzes FTSE 350 chairs over women on boards

Letter to companies organised by UKSIF

Major US companies reporting climate change strategies, says CDP

Findings of Carbon Disclosure Project’s S&P 500 report

$1.6trn investor-led coalition calls for integrated sustainability reporting

Group targets both listed and large unlisted firms

UK considers introducing binding shareholder votes on executive pay

“Engaging shareholders and empowering them to take action on executive pay”

Investors “woefully inadequate” on climate as CDP reports disclosure/performance link

CDP Chairman Alan Brown in broadside at investment community.

RI Briefing, September 14: Canada’s OTPP signs up to UN PRI

RI’s regular round-up of responsible investment news

$2trn global investor group urges SEC to bring in new director election rules

Some of world’s largest pension funds in plea over proxy access

EU to push on with tougher ‘comply-or-explain’ corporate governance reporting, while UK pushes back

UK Business Secretary says government will seek EU support to block any changes.

Clean Investor, September 13: Danish pension funds back Africa green energy fund

RI’s regular Tuesday round-up of clean investment news

UK banking giant RBS cuts links to cluster bomb clients

Chief executive sends email response to campaigners

$18trn International Corporate Governance Network backs corporate political spending disclosure

Investor group supports academics’ petition to SEC

Pension funds in class action over banks’ LIBOR price fixing

US institutional investors in potential multi-billion dollar case

RI Governance & Engagement, August 25: Investors urge SEC to pursue proxy access case

RI’s regular review of governance and engagement news

FREE NBIM withdraws request for special audit at Porsche

Two-year engagement relating to VW acquisition

RI Governance & Engagement, August 11: Australian super funds release new governance guidelines

RI’s regular review of governance developments

RI Briefing, August 10: Lothian pension fund awards ESG-themed mandates

RI’s regular round-up of responsible investing news

Institutional investor group calls on Shell and Total to cease Syria operations

NBIM wants “market-wide rethink” on how investors tackle remuneration

Voting on executive pay a “distraction” says giant investor

FREE Australian investor groups launch ESG reporting guide for companies

Super funds and wealth managers give investor perspective on ESG

Ontario Teachers pension fund takes activist stance at McGraw-Hill

OTPP teams up with activist hedge fund JANA at S&P owner

How low pay is moving up pension funds’ governance agendas

Investors taking on top pay have so far been silent on pay at the other end

FREE Christian Brothers confident of investor support for News Corp. AGM governance motion

“If it appears in the proxy it’ll get a good vote,” says US faith investor.

Listed Dutch firms improving ESG disclosure says Eumedion

But more transparency still needed, says governance forum

$1.2trn investor group calls for “strong, legally binding” Arms Trade Treaty

Treaty “directly relevant” to the long-term financial interests of investors

RI Governance & Engagement, July 14: PIRC calls for new chair at BSkyB

RI’s regular review of governance and engagement news

FREE Giant US pension fund votes against Marks & Spencer CEO

Florida’s SBA casts vote against re-election of Marc Bolland at today’s AGM

Dutch engaged share ownership guidance launched by Eumedion

New “stewardship” guidance from €1trn investor forum

FREE Editor’s comment: Murdoch and News Corp, hacked to bits?

Shareholders can’t say they weren’t warned!

FREE US institutional investors take on News Corp. over phone hacking

US funds file amended complaint in wake of scandal

Clean Investor conf: IIGCC’s Sørensen says investors don’t use CDP data, proposes ‘ownership’ shift

CDP rejects claims its data is ignored.

The RI Interview: Lord Myners on governance - practising what he preaches

The former UK Financial Services Secretary talks activism, engagement and converting sceptics on the value of better stewardship.

Asset owners, fund managers to sit on UK’s new Kay Review panel

Government confirms role of asset owners in major systemic review

UK’s €9bn Church investors target supermarkets over cheap alcohol

“We want to use our influence as shareholders”

FREE Singapore Exchange introduces sustainability reporting guide for listed firms

Exchange cites pressure from global investors

RI Governance & Engagement, June 23: Record 109 proxies in 2011

RI’s regular review of governance and engagement news

Norwegian govt fund embroiled in Indonesia illegal logging allegations

Investor facing scrutiny from NGO

RI Governance & Engagement, June 16: Call for Shell to exit Syria

RI’s regular review of governance and engagement news

FREE Investors join companies in calling for European GHG emissions cuts

Declaration ahead of EU meetings next week

Calvert’s Amazon.com climate change proposal gets big-name support

Responsible investors see case for climate change report

Bloomberg, TIAA-CREF support new Global Initiative for Sustainability Ratings project

Ceres/Tellus Institute project gets underway

Singapore introduces guidance on shareholder engagement

Monetary Authority consultation calls for “constructive relationship” with companies

FREE Gold mining giant Barrick investigates sexual assaults at Tanzanian mine, faces human rights claims

Company takes unusual step of publishing internal investigation details.

Google facing sustainability proposal at annual meeting

Internet giant argues against board sustainability committee

RI Governance & Engagement, June 2: Proxy Governance chief joins NYSE

RI’s regular review of governance and engagement news

Shareholders’ ESG proposals get strong backing at Exxon Mobil annual meeting

Investors show support for resolutions

FREE $202bn investor group challenges US firms over trade group membership

Responsible investors query National Association of Manufacturers’ sustainability stance

Remuneration at heart of new OECD guidelines for multinationals

Tougher standards to protect human rights and social development

NY pension fund motion on sexual orientation gets massive support at KBR

Strong support for a shareholder proposal opposed by management

RI Governance & Engagement, May 26: SocGen CEO opposed by 15% at AGM

RI’s regular review of governance and engagement news

Ernst & Young buys Proxy Governance assets

Global firm sets up governance team for market “in flux”

Investors call on Chevron to settle $18bn Ecuador case

Signatories sought for letter challenging oil major

$900bn investor coalition to write to Russell 1000 CEOs in sustainability push

Levi Strauss kicks off investor-corporate sustainable round table with supply chain commitment.

US pension giants make massive ESG commitments

Funds collaborate with business groups in new sustainable economy roundtable

RI Round-up: how big funds have voted on US ESG proposals

Investor votes on climate change, pharmaceutical prices, executive pay

UK reporting watchdog forced Rio Tinto to publish ESG financial risks

Investigation followed complaint from investor.

Amazon.com facing climate change resolution at AGM

Investors have opportunity to hold firm to account

Is the EU Green Paper the end for ‘comply and explain’ corporate governance?

Regulators may start to challenge corporate ‘explanations’.

European fund association puts forward own version of Stewardship Code

EFAMA also seeks role in responsible investment standards

RI Governance & Engagement, May 6: Stewardhip Code covers 40% of UK AUM

RI’s regular review of governance and engagement news

Proxy Round-up: Key ESG shareholder proposals at US AGMs (May 5-17)

UPDATE: A look at some of the most important environmental, social and governance (ESG) resolutions at forthcoming US shareholder meetings, in chronological order for May 5-17

UK authorities launch consultation on boardroom diversity

FRC wants “workable alternative to quotas”

NY pension fund keeps environmental pressure on mining giant Freeport-McMoRan

New York Common Fund files shareholder resolution for June AGM.

Australian Future Fund divests from defence companies

Exclusions amid treaty ratification and increased ESG focus

Co-op invests in West Bank-linked Veolia and Alstom despite misgivings

Investor takes “pragmatic” view of companies’ operations

Clean Investor, April 26: Business leaders back UK green bonds

RI’s regular Tuesday review of clean investing news

Dutch pension giants voted against BP safety chief

Influential asset owners refused to back Sir William Castell

Shareholders back independent chair at ratings agency Moody’s

“Landmark” shareholder vote at company meeting

Australia’s first climate change resolution gets 8.5% backing

Super funds step up to challenge Woodside Petroleum on carbon price assumptions

RI Briefing, April 20: AFL-CIO unveils Executive PayWatch site

RI’s regular Wednesday round-up of responsible investing news

BP’s ghost reappears but have asset owners learned their lessons?

Australia’s first climate change AGM resolution at Woodside Petroleum takes place on April 20.

Investors register protest over BP’s safety committee chairman

43% of votes against Castell – CBIS

Norwegian investor KLP votes against BP chairman

Environment committee chief and remuneration also rejected

Giant US pension funds weigh into BP AGM protest

CalPERS and Florida SBA also vote against environmental committee chief

Wal-Mart could face shareholder resolution on supply chain sustainability

SEC gives OK to New York Pension Funds’ AGM proposal

RI Briefing, April 6: FTSE launches ESG ratings service

RI’s regular round-up of responsible investing news

Getting transparent with the extractives industry: the EITI

Successful transparency initiatives indicate a growing sense of urgency and responsibility in confronting problems in natural resources rich countries.

New California hybrid corporate form could bring mainstream capital to social enterprises

The Flexible Purpose Corp. is being pushed in the Senate

EU wants a “critical mass” of shareholders taking engagement seriously

Long-awaited Green Paper on Corporate Governance from European Commission

Goldman Sachs facing six ESG resolutions at annual general meeting

Investors table questions on pay and climate change

RI Governance & Engagement: April 1: RWE, BP, US proxies, fifth analyst call

RI’s round-up of the most important corporate governance and shareholder engagement news.

BP faces pressure from world’s biggest investor proxy voting firms ahead of AGM

Influential advisors take oil major to task over remuneration and safety.

Clean Investor, March 29: Impax sets up US subsidiary

RI’s regular Tuesday review of clean investing news

RI People & Appointments, March 28: SocGen boosts SRI broker research team

RI’s regular Monday review of people moves and appointments.

RI Governance & Engagement, March 25: BP to meet with SRI investors

RI’s regular review of governance and engagement news

RI Governance & Engagement, March 18: Renault facing shareholder resolution on CEO pay

RI’s regular review of governance and engagement news

Call for “thorough investigation” into monitoring role of shareholders

Belgian governance chief’s intervention ahead of EU Green Paper

FTSE4Good deletes software giant Oracle over human and labour rights

South Korea and Israel added to investment universe in review

RI People & Appointments, March 14: Female directors proposed at Deutsche, Munich Re

RI’s regular Monday review of people moves and appointments.

RI Comment: BP’s AGM - where’s Deepwater?

RI Governance & Engagement, March 11: Latest legal moves in US proxy access battle

RI’s regular review of governance and engagement news

RI Briefing, March 9: GovernanceMetrics report on women on listed company boards

RI’s regular round-up of sustainable finance news.

Shell cuts executive bonus link to Dow Jones Sustainability Index

Decision follows exit from index in 2010

US oil majors petition SEC to write off environmental shareholder resolutions from AGM votes

Companies seek SEC OK for omitting investor filings from the proxy.

Shareholder engagement: a promising SRI approach?

Report outlines how institutional investors are using engagement strategies

UK panel sees investors’ role in boosting women on boards

Government review suggests changes to corporate governance code

Australia legislates to give shareholders more say on pay

Shareholders get opportunity to remove directors over remuneration

Almost 40% of shareholders vote down Novartis board package at AGM after first ever say-on-pay

AGM is first ever advisory vote on remuneration following investor campaign.

Co-operative Asset Management in ESG tie-up with KKR

Co-op hails “innovative partnership”

EU “close” to making corporate ESG disclosure mandatory – Eurosif

Expect a directive on mandatory ESG disclosure, says Christensen

US investors target “fracking”, political contributions, network neutrality

Battle lines drawn for proxy season

Shareholders drop resolution on BP’s Gulf oil spill

Investor group favours UK-style engagement at oil major

UN Global Compact expels more than 2,000 companies in enforcement drive

Global Compact gets tough on firms

RI People & Appointments, January 24: New chairman at €1trn Eumedion

RI’s regular Monday review of people moves and appointments.

Boston Common divests Cisco Systems over human rights

Investor also expresses concerns over proxy voting

Investors should be more involved in company audits, says UK watchdog

Financial Reporting Council consults on corporate reporting and audit

Canada’s Northwest & Ethical divests from Vedanta

Ethical investor becomes the latest institution to exit mining firm

APG calls on BP to integrate safety into pay following Deepwater

Call comes as US funds get lead plaintiff status

French dairy giant Danone experiments with sustainability-linked coupon for corporate bonds

Project currently on hold because of KPI quality.

BP facing shareholder resolution on oil spill

Global investors team up to quiz oil major on risk management

SEC to clamp down on extractives payments, mine safety and conflict minerals

New proposals under Dodd-Frank Act

Norway’s KLP puts BP on watch list over Deepwater oil spill

Influential responsible investor initiates dialogue with oil giant

EU launches non-financial reporting consultation: UK MPs call to bolster OFR

EU appears minded to seek greater ESG disclosure by companies as UK MPs aim to toughen director reporting duties.

Malaysian stock exchange to launch ESG index

Bursa Malaysia launches programme to promote ESG integration

“Water the new carbon” as CDP’s Water Disclosure Project releases first results

$16trn investor-backed initiative quizzes companies on water usage

European Commission consults on ‘country-by-country’ multinational tax reforms

Investors could be better able to assess national tax activities, says EU.

EU may legislate on corporate social and environmental data

New initiative alongside corporate governance green paper

It’s time for asset owners to stand up and be counted on executive pay, or face legislation

Public and globally accepted pay principles could avoid the need for blunt legislation.

Dutch pension fund PNO excludes Wal-Mart over labour standards

US retailer blacklisted by €3bn industry-wide scheme

AP2 demands performance metric on company share matching schemes, extends enviro assets

€22bn buffer fund moves into agriculture and timber alongside its existing green bonds allocation.

Shell to review Dow Jones Sustainability Index as bonus metric after being dumped from benchmark

Response to “subjective” decision by Dow Jones/SAM

Hungary toxic spill is symptomatic of poor safety in the extractives sector

Investors and corporate peers need to push laggards towards best practice.

Carbon Disclosure Project unveils FTSE 350 climate leaders

Plaudits for HSBC, Reckitt Benckiser, RBS, Scottish & Southern and Tesco

MSCI’s governance revenues hit by declines in proxy research, voting

Third-quarter earnings report released

ESG reporting in Eastern Europe reaching par with Western European peers

Investability of New Europe companies improving rapidly on ESG factors, says study.