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ICCR publishes its proxy resolutions for 2012.
RI’s regular review of governance developments

Pharma giant commits to “future dialogue”
15 most blacklisted companies listed by large investors.

Lawyers exploit Dutch Court of Appeals to get shareholder damages.

German company faces ‘reputation risk’ say investors as DoJ reviews Foreign Corrupt Practices Act.
RI’s regular review of governance and engagement developments

Canadian investor hires engagement specialist from mutual fund firm

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

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

Divestments over non-compliance with Global Compact

Increased levels of accountability and transparency are needed if Japanese companies are to attract long-term shareholders.
RI’s regular review of governance and engagement news

State finance chief talks ESG, engagement, BP, fracking and climate change.

Investor suit over foreign exchange trading controversy
RI’s regular look at governance and engagement news

Ethical advisory group “not prepared to sanction” investment

Investors have responsibilities to ensure that they don’t sustain or aggravate conflict
RI’s regular round-up of governance and engagement news

Trade body says funds also becoming more ‘hands on’ with investee companies.

Pension fund meeting with HP’s sustainability chief

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

Local Authority Pension Fund Forum conference told of risks

Latest asset owners to issue compliance statement

Investor says engagement is working at world’s largest gold mine

Engagement guidance released alongside new Corporate Governance Code

Insurer to make third party managers RI compliant.
RI’s regular round-up of governance news.

Challenge comes as UK government reiterates exec pay legislation threat.
ABI, TUC and BlackRock all contribute to Stewardship thought papers.
The current sub-optimal engagement process needs to change.

Decision on legal action expected shortly as fund sells off holdings.

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

Software giant says it appreciates discussions with shareholders
RI’s regular roundup of governance news

Decision follows engagement with company
RI’s regular round-up of governance and engagement news

An incomplete or uncertain regulatory environment can increase risk for both companies and investors.
Engagement could be a turning point for marine engagement.
RI’s regular review of governance and engagement news
Investment bank defeats investors over bonus billions

“Engaging shareholders and empowering them to take action on executive pay”
RI’s regular look at governance and engagement news

Report to look along the chain of investment decision making.

Some of world’s largest pension funds in plea over proxy access
Number of against votes rises year-on-year

Chief executive sends email response to campaigners

Fund accused of potential breach of government cluster bomb treaty commitment.

US institutional investors in potential multi-billion dollar case
RI’s regular review of governance and engagement news
RI’s regular Tuesday round-up of clean investing developments

Holding revealed by Finance Minister contravenes tobacco investment policy

Two-year engagement relating to VW acquisition
RI’s regular review of governance developments
RI’s regular Tuesday review of clean investing news
RI’s regular round-up of governance and engagment developments
RI’s regular review of governance and engagement news

Allegations include so-called ‘transfer pricing’ of tax receipts out of Africa.
RI’s regular review of governance and engagement news

Shareholders can’t say they weren’t warned!

Media giant “not a place where shareholders come first” says Church Commissioners’ Whittam Smith
RI’s regular review of governance and engagement news

Appointment follows major internal review.

The former UK Financial Services Secretary talks activism, engagement and converting sceptics on the value of better stewardship.
RI’s regular review of governance and engagement news
Review of Bebchuk, L. A. and Weisbach, M. S.. (2010) “The State of Corporate Governance Research.” The Review of Financial Studies, 23 (3): 939-961.

Investor facing scrutiny from NGO
Shareholders engaged with forestry firm before scandal
Influential responsible investor now blacklists 63 firms
RI’s regular review of governance and engagement news
RI’s regular review of governance and engagement news

The funds are lodging fewer resolutions but driving deeper to get better value for money.
RI’s regular review of governance and engagement news

Deleted over environmental management and health & safety failings

Investor says just 50 firms report on supply chain water risks

Exclusions amid treaty ratification and increased ESG focus

Investor takes “pragmatic” view of companies’ operations

Influential asset owners refused to back Sir William Castell
A look at some of the most important environmental, social and governance (ESG) resolutions at forthcoming US shareholder meetings, in chronological order.
We will update it as the proxy season progresses.

“Landmark” shareholder vote at company meeting

AP funds’ Ethical Council also in dialogue with France’s Veolia and Alstom
RI’s regular review of governance and engagement news

43% of votes against Castell – CBIS

CalPERS and Florida SBA also vote against environmental committee chief

New workplace scheme to screen human rights, environment and corporate governance

New “fully transparent” offering mapped to KPIs for ESG 3.0
SEC gives OK to New York Pension Funds’ AGM proposal
RI’s regular review of governance and engagement news

Long-awaited Green Paper on Corporate Governance from European Commission

Change in empahsis by Carbon Disclosure Project

Investors table questions on pay and climate change

Companies Act-style provision recommended for institutional investors

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

New fund seeks to be a “responsible and vigilant asset owner”
RI’s regular review of governance and engagement news
RI’s regular review of governance and engagement news

Munich Re chief to step down from his current corporate position in October to focus more time on PRI role

US industrial group L-3 Communications readmitted
RI’s regular review of governance and engagement news

Decision follows exit from index in 2010
RI’s regular review of governance and engagement news

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

Shareholders get opportunity to remove directors over remuneration

Fund wants managers to monitor ESG risk and engage with companies

Major hurdles remain to clear before international agreement can be reached.

Initiative ahead of UN discussions to kick off next month.

Giant fund now excludes a total of 51 companies

More leverage on social and environmental issues with investee companies

Company to face questions at AGM in May

CHF100m mandate also targets revenues from gambling, nuclear energy and genetically modified organisms
RI’s round-up of sustainable finance news.

Climate Principles progress report published

Battle lines drawn for proxy season

Asset manager faces up to activist investor

Investor group favours UK-style engagement at oil major

Wellcome Trust among six new asset owners to back code

Investor also expresses concerns over proxy voting

Ethical investor becomes the latest institution to exit mining firm

Call comes as US funds get lead plaintiff status

Furore recalls Zembla pension fund exposé of 2007

EarthRights International says fund has $4.7bn tied up in repressive regime

New code gets backing of $1.2trn investor

Influential responsible investor initiates dialogue with oil giant
Investors key to corporate reform, says Anne Simpson

Boutique considers including info in annual Assurance Report

€20bn railway fund the latest asset owner to sign up

€86.5bn buffer funds complete procurement

Fund changes tack from exclusion of big polluters via external mandates

Giant fund to relegate governance from initial screening process

€49.2bn sovereign fund develops ownership rights approach

Finance ministry rejects watchdog’s criticism that fees should have been capped.
Fund has scope for engagement with bond issuers on ESG issues.

US retailer blacklisted by €3bn industry-wide scheme

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

Response to “subjective” decision by Dow Jones/SAM
RI’s regular round-up of responsible investing news

€8.8bn state fund also considering footprint of total portfolio

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

Fund says many foreign companies unable to meet its pay criteria.

Could non-compliance with prohibition of controversial weapons be a problem for institutional investors?

Investors to get more say on company boards

The recent visit of the Burmese senior general to India underpins a growing corporate relationship.

Giant fund the latest to exit Africa Israel Investments
New company founded by BT Pension Scheme’s manager

Giant pensions manager abstains at AGM vote over ESG concerns.

€126bn pension trio wants companies to ignore guidelines

How the debate and practice of engagement in Japan has developed.

EC Green Paper is sceptical about shareholder oversight to prevent another financial crisis.
Dutch giant releases Responsible Investing Report
It’s “comply or explain” this time for pension funds

Few fund managers sold BP despite some of the warning signs.

Investors seeking information on boards’ competence in wake of Gulf spill

Assets run via an SRI process reach 13% as fund recovers on performance.
The KLP fund shows good performance of indexed responsible investments

Demand a full, long-term environmental clean-up, board accountability and management explanation, say Mark Tulay and Stephen Viederman
RI’s regular round-up of the most important responsible investment news

IIGCC says potential for future legal proceedings are being looked at by signatories.

Investors need to be aware of the multiple sustainable initiatives and how they work.
Phosphate imports targeted by €32.5bn insurer

Global Pension Fund manager to track firms for 20 years

11% of votes decline to support management

€15bn fund in dialogue on a range of issues

Investors square up to under-fire mining company

Malaysia’s Khazanah Nasional joins SWF forum

Shareholders press BP over safety and environmental cost of deep sea oil extraction.
Management change at Norwegian insurance and asset management group

Investors respond to the consultation process for the forthcoming Corporate Governance Code.

As investors get tough on corruption, what are the implications of OECD enhancements to the Anti-bribery Convention

Swiss investors demand that board engages with investors on executive remuneration.

Second bidder wanted to spin off ISS

Brady Dougan, Credit Suisse chief executive, in line for €50m five-year pay-out.

Defence and construction sectors under particular focus.
€4bn fund revises voting guidelines.

Dutch pension giant now excludes 33 firms in total.

More than 15% of share register fails to back BP management.
F&C voted against incoming PPF chair’s role at US mine firm
Shareholders at AGM open door to court action against former Swiss bank chiefs.

Resolutions for improved reporting lodged with two more oil majors.

APG Asset Management warns it may join shareholder protests over the involvement of oil giants BP and Shell in controversial tar sands projects in Alberta, Canada.

Two of the UK’s largest pension funds set up an investor communication website as part of alliance to coordinate share voting at company meetings – made possible thanks to clarification on ‘acting in concert’ guidelines from the UK Financial Services Authority

Investors take sides on call for oil giant to disclose info on environmental and economic risks.

Local Authority Pension Fund Forum says oil giant has provided necessary information.

Report to look at work of remuneration committees and consultants.

Funds follow advice of Ethical Council in potentially controversial sell-off.
More engagement needed, but more resources necessary.

Ethos calls on shareholders to reject remuneration report and oppose director ‘discharge’.

Why have institutional investor groups had little to say about the post crisis reforms?

Parliamentary bills look to ratify Oslo Convention.

Schemes pool governance expertise and voting resources.