Responsible Investor

Resolutions from the Investor Network on Climate Risk (INCR), organised by Ceres and the Interfaith Center on Corporate Responsibility (ICCR), have pushed Ford the US car manufacturer, to announce it will publish a carbon emissions reduction strategy emissions including cuts of 30% by 2020 in its new fleet.
The groups are expected to file similar resolutions at General Motors. Mindy Lubber, president of Ceres and director of the INCR, said: “Ford, as well as General Motors, needs to do much more and quickly, to reclaim their leadership role in the global marketplace”.
The UK Local Authority Pension Fund Forum, which represents assets of £95bn, has joined condemnation of Marks & Spencer, the UK retailer which promoted chief executive Sir Stuart Rose to the joint post of chairman, breaching the UK Combined Code on corporate governance.

In a letter to the company, Councillor Ian Greenwood, chair of the forum, said: “There is a significant risk for investors that the decision to breach a key principle will send a message to the market as a whole.” LAPFF said it was considering “alternative routes” to express it concerns, without elaborating.
Institutional Shareholder Services (ISS), the US proxy voting company, says shareholders at Citigroup should reject the appointment of directors including Alain Belda, Kenneth Derr, Anne Mulcahy and Richard Parsons, because of lack of oversight on compensation. Among other issues, ISS cited the estimated $40m exit package given to former CEO Charles Prince, who was ousted in November amid huge mortgage-related losses at the bank.
UBS has hired Sir David King, former head of the UK Government Office for Science, as a counsel on environmental policy.

Not a member? Register here »