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May 2012
Growing investor support for coalition on shale gas link to methane emissions
Growing backing for Scottish Widows’ initiative
Renewable energy covered bonds proposed to tap €2.5trn market
Potential new channel for private sector low-carbon investment
$2trn investor coalition calls for mandatory corporate sustainability reporting
Group steps up call ahead of next month’s Rio+20 summit
New York City funds increase pressure on Wal-Mart over Mexican bribery allegations
Letter to fellow shareholders as proxy firms weigh in
RI ESG Briefing, May 22: Pfizer, Potash removed from sustainability index
The round-up of environmental, social and governance news
Energy giant becomes first listed company to back new German Sustainability Code
Blue chip backing is a major boost for new code
SRI funds delivering “strong and competitive returns” – Canadian study
New research from Canada’s Social Investment Organization
RI People & Appointments, May 21: UN PRI seeks Head of Research & Public Policy
ESG movers and shakers
Campaign group As You Sow rebuts Exxon Mobil over fracking risks
Group issues detailed response to energy giant
$1trn investor group unites to back best practices on gas “fracking”
Group of 55 global major investment institutions
RI interview: Michelle Edkins, BlackRock: leading the shareholder spring?
The governance chief of the world’s biggest fund manager talks say-on-pay and better board oversight.
RI ESG Briefing, May 17: CalPERS seeks support at Nabors AGM
The round-up of environmental. social and governance news
RI ESG Briefing, May 16: Mutual funds falling short on climate change voting - Ceres
The round-up of environmental, social and governance news
SRI retail fund sales recover slightly, green funds flat - Lipper stats
Asset flows for February 2012
40% back union pension fund’s proposal for independent chair at J.P. Morgan
Dutch pension giant PGGM votes against Dimon as director
RI ESG Briefing, May 15: Private equity giant partners with anti-corruption NGO
The round-up of environmental, social and governance news
J.P. Morgan AGM: how US institutions have voted on governance proposals
Banking giant faces shareholders amid trading losses crisis
PRI makes top-level hire of NYC Pensions Director for US signatory push
Asset owner recruitment will be at heart of new Network Manager role.
Luxembourg seeks leading role in responsible investment funds
Plan to make RI the “third pillar” of Grand Duchy’s funds industry
State Street Global Advisors signs up to UN Principles for Responsible Investment
$2trn fund giant is the latest major firm to back PRI
More German asset owners sign up to UN Principles for Responsible Investment
PRI continues to gain traction in Germany
SIRP research examines outcomes of investor engagement and alternative assets
Research on impact and governance presented in Paris.
RI ESG Briefing, May 10: Generation IM backs energy efficient lighting
The round-up of environmental, social and governance news
Broker survey reveals more than half would look more long term in absence of quarterly numbers
Citi analysts encouraged to comment on pros and cons of 3-month reports.
Northern Trust plans to introduce passively managed ESG investments
Long-term goal is to integrate the UN PRI framework
RI People & Appointments, May 9: APG seeking Governance & Sustainability Specialist
ESG movers and shakers
Support grows for Investors Against Genocide proposal at J.P. Morgan
Ongoing campaign gets backing from major institutions
RI interview: Anne Simpson, CalPERS: building a global coalition of asset owners on governance
How an informal group of the world’s largest asset owners is seeking to change the corporate governance landscape.
Aviva CEO Moss steps down after shareholder pay revolt
New interim chief aims to “regain the respect” of shareholders
Big US pension funds take on Wal-Mart over Mexican bribery allegations
CalSTRS sues while New York funds rally fellow investors
Responsible Funds, May 4: New Sparinvest ethical emerging markets fund
The round-up of responsible funds news
MSCI and Barclays partner on global ESG bond indices
New index series aims to fill gap in the market
Nearly half of German investors plan to engage on ESG - survey
Union Investment survey also shows UN PRI gaining traction
RI ESG Briefing, May 3: Aviva loses non-binding remuneration vote
The round-up of environmental, social and governance news
RI ESG Briefing, May 2: Christian Brothers on Parliament’s Murdoch verdict
The round-up of environmental, social and governance news
Danish listed clean energy investment fund founder and CEO exits
New team at Copenhagen-listed investor
New Zealand Superannuation fund plots major forestry move
Responsible investor talks with Harvard Management Co. over Kaingaroa estate
RI ESG Briefing, May 1: New York City funds to vote against Wal-Mart directors
The round-up of environmental, social and governance news
The missing shareholder links in France’s AGM reforms
French SIF responds to the recent corporate governance consultation.
CalPERS says investors must put ‘F’ for financial reform into ESG
Fund lays out five principles for its own market health agenda.
$650bn US asset management giant signs up to UN Principles for Responsible Investment
Venerable fund firm backs UN PRI
RI People & Appointments, April 30: Canadian funds hire BP exec for forestry role
ESG movers and shakers
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Major institutional investors back IFC’s first US-targeted green bond
New $500m US-targeted bond is well-received
Six major US funds take “extraordinary action” over real estate firm’s governance
$685bn asset owner group writes to fellow shareholders
Pension-backed water fund in breach of London exchange listing rules
Possible change to “premium” London listing
RI ESG Briefing, April 27: Strathclyde fund hires GES for “two-way” engagement
The round-up of environmental, social and governance news
Rabobank looking at “strategic options” for fund arm Robeco
Bank mulling future of responsible investment subsidiary
RI ESG Briefing, April 26: UK eyes renewable energy trading
The round-up of environmental, social and governance news
CalPERS’ first ESG report and new PRI framework show progress of responsible investment reporting
The age of transparency is slowly emerging
German institutional shareholder advisor VIP critical of Deutsche Bank CEO plan
Further pressure on banking giant in run-up to AGM
Faith investors respond to Walmart Mexico bribery reports
Statement from Interfaith Center on Corporate Responsibility
Tessa Tennant wins Joan Bavaria Award for Building Sustainability into the Capital Markets
Award presentation kicks off Ceres conference in Boston.
RI ESG Briefing, April 25: Ex-BP CEO Browne calls for extractives transparency
The round-up of environmental, social and governance news
RI ESG Briefing, April 24: New intergovernmental biodiversity body established
The round-up of ESG news
Korea sovereign fund backs new EIB Climate Awareness Bonds
Asian giant among new investors in climate bonds
New German corporate sustainability code gaining momentum
Energy giant RWE says it is considering signing up
RI People & Appointments, April 23: South Africa investment chief joins Global Compact board
ESG movers and shakers
Responsible Funds, April 20: responsAbility fund backs Central American co-ops
The round-up of responsible funds news
Dutch pension fund giant explains why it voted against Citigroup pay
More details from investor on unexpected annual meeting result
UK pension fund group says banks could be breaching law by overstating assets
Risks identified over IFRS accounting standard.
RI ESG Briefing, April 18: Shell invites SRI investors to visit Nigeria operations
The round-up of ESG news
Foreign investors take stand against Volkswagen chief Piech at AGM (Update)
At least four non-domestic institutions oppose election to board
Pension funds vote down Citigroup executive pay as bank loses AGM vote
Unexpected defeat at shareholder meeting for banking giant
French investor calls for CEO/Chair split and oversight committee at SocGen
Corporate governance rising on French investor agenda.
New York City funds make diversity disclosure agreements at Goldman Sachs, MetLife
Focus shifts to advertising industry
Goldman sets out opposition to shareholder proposal on political lobbying
Points to new policy developed after shareholder engagement
RI ESG Briefing, April 13: Generation IM backs waste-to-energy firm’s financing
The round-up of ESG news
Norwegian pension fund drums up support for US governance campaign
Investor presentations on ‘proxy access’ proposals
BP AGM: almost 12% of votes go against remuneration report
Oil major facing investors almost two years after Deepwater Horizon
RI interview: Teresa Fogelberg, GRI Deputy CEO: Rio+20 report or explain on corporate sustainability
GRI believes its proposal could be adopted in Brazil.
Swiss pension fund backs new Rothschild quantitative responsible investment strategy
Rothschild teams up with sustainability firm Conser Invest
RI ESG Briefing, April 10: French state fund issues responsible investment charter
The daily round-up of ESG news
Proxy preview: Shareholder ESG proposals at major US companies
Investor environmental, social and governance proposals
Swiss private bank Sarasin excludes controversial weapons
Swiss move comes as UK investors reportedly impose “blanket ban”
Responsible Funds, April 5: SAM celebrates five years of Healthy Living and Climate funds
The round-up of responsible funds news
UK pension fund eyes agriculture, timber in long-term fiduciary mandate
Potential 10-year contract with supplier
RI ESG Briefing: Principles for Sustainable Insurance set for Rio+20 launch
The daily ESG news round-up
Scottish Widows building coalition to tackle methane emissions
Says US environmental watchdog keen to work with investors
RI ESG Briefing: As You Sow report on ESG at solar photovoltaic companies
The daily round-up of ESG news
German exchange teams up with CDP to offer carbon data on 1,800 global firms
Specific CDP data points on listed firms worldwide
Investors’ “fracking” proposal at ExxonMobil gets SEC go-ahead
Shareholder motions on “fracking” and sexual orientation
Asset owners call for global debate on materiality in financial reporting (Update)
Response to European regulatory consultation
$1.6trn investor group engages with authorities on Canadian oil sands monitoring
Letter sent to federal and provincial ministers
RI People & Appointments, April 2: Sustainalytics’ Germany MD joins life insurer
ESG movers and shakers
RI ESG Briefing: Investors write to energy firms on shale flaring
The daily round-up of environmental, social and governance news
Asia investor group lays out plans for boosting regional asset owner climate change activity
Peer funds globally to help with Asia promotion.
RI ESG Briefing: Allianz takes renewables investment to €1.3bn with wind farm deals
The daily round-up of environmental, social and governance news
UK government seeks fund managers for non-domestic energy efficiency infrastructure
Focus is likely to be debt funding, says green investments team
ESG Asia conference: Singapore Exchange to survey 100 largest companies on ESG reporting
Study to be carried out by KPMG.
UK government puts off decision on corporate emissions reporting
Carbon Disclosure Project: “surprised and disappointed”
RI ESG Briefing: ISS fires employee for supplying confidential client data
The daily round-up of environmental, social and governance news
Call for investors to support sustainable stock exchanges
Exchanges see “investor ambivalence” – report
RI People & Appointments, March 26: New role for former UNEP FI head Clements-Hunt
ESG movers and shakers
Sustainalytics to buy Asian ESG research rival
Deal for Responsible Research expected to close in May
Responsible Funds, March 23: Netherlands’ SNS merges sustainable equity fund
The regular round-up of responsible funds news
RI ESG Briefing: UK pension fund tenders proxy voting
The daily round-up of environmental, social and governance news
World Water Day: why the water investment theme is more relevant than ever
A massive under-spend on infrastructure means pent up demand.
ERAFP takes major French step with shareholder voting and engagement policy
Move comes as AMF regulator consults on AGM process.
RI ESG Briefing: Danish pension fund’s Deepwater Horizon-related case dismissed
The daily round-up of environmental, social and governance news
RI ESG Briefing: Brokers top ESG research table as manager interest grows: survey
The daily round-up of environmental, social and governance news
Leading responsible investor says engaging with banking fixed income counterparties on ESG
Investment banks rated on social performance for risk.
What corporates, analysts and exchanges think of Blood and Gore’s ‘Sustainable Capitalism’ manifesto
RI asked the finance industry what it made of Generation’s much-discussed thought paper.
RI People & Appointments, March 19: US SRI fund marketing chief starts own firm
ESG movers and shakers
Responsible Funds, March 16: €6bn UK local authority fund eyes food waste investment
RIs’ regular round-up of responsible funds news
Institutional investor-backed Royal Bank of Scotland legal action goes forward
Action group delivers claim against bank and directors
RI Governance, March 15: New York City funds in director nomination push at two firms
RI’s regular round-up of governance and engagement news
Leading investment consultant calls for better ESG mandates
Owners need to show leadership, says respected industry figure
RI profile: How one of Switzerland’s largest pension schemes invested CHF130m into microfinance
PK Post’s Rolf Maurer explains how the fund made the strategic move.
RI Briefing, March 14: Dutch bank signs up as UN PRI goes past 1,000 signatories
RI’s regular round-up of responsible investing news
UK starts six-week consultation on final binding shareholder pay vote laws
Final review to examine impact, costs and benefits.
Shareholders and campaigners call for legal clarity on fiduciary responsibility
Mis-interpretation leads to erroneous focus on short-term returns
Environment, March 13: Norway fund buys into California water project
RI’s regular round-up of environmental investing news
NAPF Conference Report: reconciling short-termism and stewardship
The tension between long-term aspirations and short-term pressures
RI People & Appointments, March 12: New chair at Grameen Crédit Agricole Foundation
ESG movers and shakers
Pension fund-backed ‘long-term/sustainable’ model mandate set for formal launch
International Corporate Governance Network project
RI Governance round-up, Mar 8: UK names Edinburgh as Green Investment Bank HQ
RI’s round up of corporate governance news.
Ruggie’s legal legacy: could human rights become the biggest investor ESG risk?
Ruggie’s UN framework could slowly become legally binding and more financially material.
Denmark’s ATP says new UK DC arm to have responsible investment at core
Interview with Chair and CEO at Now:Pensions
RI Briefing, March 7: Global CEOs commit to Women’s Empowerment Principles
RI’s regular round-up of responsible investing news
Private equity firms expect ESG pressure from investors to grow – PWC survey
Survey of 17 private equity firms
Environmental news round-up, March 6: Malaysian SWF giant to invest more in green tech companies
RI’s regular round-up of environmental investing news.
EU starts 3-month consultation before possible regulation to put more women on boards
Commissioner says current rates will take 40 years for gender parity.
RI Governance, March 1: Danish pension fund divests mining firm over pollution
RI’s regular review of governance news
Investors get high-level support for Draghi letter on climate ‘stranded’ assets
Appeal to ECB Chief goes out today.
Florida pension giant brings global proxy voting in-house
Mirrors shift to combined global equity portfolio
Environment, February 28: New carbon indices launched for Australia, Europe and Japan
RI’s regular review of environmental investing news
Corporate political spending the big issue for proxy season – As You Sow
Proliferation of shareholder resolutions since Citizens United
Investors await Kay Review into long-term decisions making and markets
Fiduciary duty a possible area of focus
The €6bn ESG mandate tender you should know about…
France’s Ircantec revamps entire portfolio on RI lines.
SEC should back corporate political spending disclosure to investors – Commissioner
SEC Commissioner backs shareholders’ right to information
Investors step up annual board vote threat on 30% female exec representation
World’s largest fund manager among new 30% Club signatories
Responsible Funds, February 24: New manager at LGT sustainable global equity fund
The round-up of ESG funds news
Dutch pension giant backs massive $1bn Mexican wind farm project
Investor says project is in line with ESG criteria
RI Governance, February 23: South African state investor takes stand on exec pay
RI’s regular review of governance and engagement developments
Study finds obstacles to implementing faith-based investment
A “lack of tools and services” for religious investors
RI Briefing, February 22: Global Investor Survey on Climate Change
RI’s regular round-up of responsible investing news
We must end quarterly capitalism: Mindy Lubber
Short-sighted, short-termism is the financial markets’ Achilles heel
European SRI funds slow down sales slide, green funds continue to lose assets: RI Lipper stats
Asset flows for December 2011.
UK county council pension fund awards €71.5m timberland mandate
Fund puts 2% of assets into timberland
Investor support grows for CDP-backed corporate ‘Carbon Action’ initiative
$10trn of assets now back call for energy cost cutting
Private equity giant Carlyle working with Dutch pension funds on ESG
Firm reveals “working partnerships” with funds
RI Governance, February 16: Co-operative AM presents case study of Murdoch engagement
RI’s regular round-up of governance news
Giant LA fund wants UN PRI signatory for emerging markets mandate
Fund managers should consider becoming a signatory or incorporating principles
UK CEOs paid ‘excessive’ short and long-term bonuses compared to European peers: report
UK corporate chiefs 7 out of 10 best-paid in Europe in 2011
RI Briefing, February 15: Principles for Investors in Inclusive Finance: first year case studies
RI’s regular roundup of ESG news.
Global investors push SEC on “unfinished business” of proxy access and credit ratings agencies
Letter calls for regulator to “complete” investor protection work.
Investors and companies concerned over “quiet tyranny” of proxy firms: UK governance regulator
Financial Reporting Council notes strong concerns in report.
Environment, February 14: Pension–backed low carbon VC fund to liquidate portfolio
Key news in environmental investing
California may force companies to disclose political contributions
Proposed legislation before California State Senate
Investors to write to ECB chief Mario Draghi on carbon risk of indexed assets
European Systemic Risk Board urged to carry out an assessment on regulatory bind.
Institutional Shareholder Services employee suspended in kickback probe
ISS says it is taking the matter “extremely seriously”
Mercer to launch ESG-screened version of global asset manager database
Clients will be able to screen GIMD for ESG
OP-ED: Just 9% of ESG strategies get top Mercer rank: that’s a wake-up call for the UNPRI…
My 3 recommendations for pension fund trustees to spur ESG quality.
RI People & Appointments, Feb. 13: New investment chief at Australian Ethical
The round-up of ESG movers and shakers
Dell, Intel and Motorola under fire from NYC funds on supply chain labour rights
Adopt voluntary standards or face AGM votes, funds tell tech companies.
Counting share buy-backs as dividends is overstating investor returns!
Shareholders are starting to resist a technically dubious and politically dangerous trait, says Pierre-Henri Leroy.
RI Governance, Feb. 9: Finland’s Ilmarinen appeals ‘minimum dividend’ judgment (update)
RI’s round-up of governance and engagement news
Major pension fund-backed offshore wind farm set for official launch
Walney project shows role of institutional investors
New York City funds in positive engagement over clawbacks at banks
Withdrawal of shareholder proposal follows “informative and productive” discussions
US investors target US oil and gas giants AGMs on ‘fracking’ risks
Resolutions part of broader campaign over sector financial risks.
France’s €12bn ERAFP tenders for €865m in SRI convertible bond and real estate mandates
Huge ESG tender will follow fund’s SRI charter.
RI Briefing, February 8: New UK social impact bond in pipeline
RI’s regular round-up of responsible investing news
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
US faith shareholders to pressure Amazon, Boeing and GE over potential tax danger
ICCR publishes its proxy resolutions for 2012.
Environment, Feb. 7: Generation IM discloses stake in smart grid firm
RI’s regular review of environmental investing news
RI People & Appointments, February 6: UN PRI seeking Director of Global Development
ESG movers and shakers
Giant Japanese investor seeks environmental social and governance managers for passive equities
Candidates must be signatories to the UN PRI
MSCI: Environmental, Social and Governance Trends to Watch in 2012
Accounting for natural capital, conflicting water demands and the shifting debate on climate change
Social funds buck market as top performer hits 10.25% for 2011: RI publishes Cedrus top perf stats
Top 5 performing funds data across 11 sustainability themed asset segments.
Responsible Funds, February 3: the round-up of ESG funds news
RI’s regular look at responsible funds news
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
Australian super funds advised to see ESG as a competitive advantage
New guidance from financial services body Finsia
Aviva Investors names new Chief Responsible Investment Officer
First details of new structure emerge after shake-up
RI Briefing, February 1: Man Group hopes others will follow its lead on UN PRI
RI’s regular review of responsible investing news
Environment, January 31: Institutional investors’ climate change group reacts to EU working paper
RI’s regular round-up of environmental investing developments
Ending Wall Street’s big sleep on sustainability
A recent closed meeting of investors looked at moving from words to action.
Aviva Investors’ SRI team seeks to stay together with new parent
Team leader Michaelis confirms intention
Aviva Investors cuts London SRI equity desk amid wider job cull
Formation of new Global Responsible Investment Team
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.
UK’s €10bn responsible investment-focused pensions lifeboat in bond move
Leading responsible investor seeking bond managers
RI People & Appointments, January 30: New chairman at Finnish pension giant
RI’s regular round-up of responsible people moves
A third of Swedish companies making little sustainability progress despite local investor pressure
Sustainable Value Creation in Sweden reports second year findings.
RI Governance, Jan. 26: New proxy consultant launches in UK
RI’s regular round-up of govenrance and engagement news
Shareholders withdraw Pfizer lobbying resolution as company agrees to dialogue
Pharma giant commits to “future dialogue”
Major US corporate lobby groups tells SEC to regulate proxy firms as investment advisers
US regulator to issue ruling in coming months.