Corporate governance – Page 12
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NewsRailpen expects companies to use new ISSB standards ‘at a minimum’
‘In 2024 we will continue to use our voice to advocate for the strong shareholder rights and effective corporate governance, which ultimately benefit both investors and companies,’ says Railpen
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NewsRegulator fines Dutch retail scheme for communication mishaps
Pensioenfonds Detailhandel has accepted the €136,000 fine, but claims the regulator’s conclusions were ‘too firm’ and were based on too little information
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NewsFrance is first country to transpose CSRD into national law
The Directive will replace the Non-Financial Reporting Directive, laying out much stricter expectations for companies reporting on environmental and social impacts
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NewsGerman regulator to check European green bonds issuers obligations
Green bond issuers must publish an information sheet before issuing the bonds, which includes essential information on planned taxonomy-compliant use of proceeds
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Opinion PiecesViewpoint: Unequal voting rights must be phased out
Weakening protections around dual class share structures will not deliver the desired benefits
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NewsFondo Pensione Cometa pushes Microsoft on AI risks at AGM
The pension fund is also in favour of an independent analysis of the reputational and financial risks resulting from Microsoft’s involvement in the military industry
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NewsNBIM to lead class action for first time, joining AP7 against SVB
AP7 reveals it is also leading class action in US against failed Signature Bank
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NewsInvestor coalition calls for phase out of unequal voting rights
It made recommendations to phase out dual-class structures tailored at different financial market participants
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NewsISSB: Scope 3 emissions emerge as key challenge
ISSB’s Transition Implementation Resource Group will aim to understand what challenges constituents are facing and attempt to avoid diversity in practice
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NewsInvestors coalition creates platform to strengthen human rights stewardship
Labour Rights Investor Network demand oversight over labour rights by senior management of investee companies
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NewsIPE Conference: Asset managers urged to implement diversity policies
More diversity on decision-making panels leads to better investment decision and even outperformance of peers
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NewsBpfBouw crowned most sustainable Dutch pension fund
The scheme for the Dutch construction sector has taken the first place from ABP
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NewsMining 2030 Commission gets supports from 82 investors as members named
Among the 82 investors that are backing the initiative are APG in the Netherlands, USS in the UK, US fund CalSTRS and Canadian pension fund CDPQ
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NewsStewardship and engagement hires decline, says Redington
Survey shows that 30% of managers are unable to evidence ESG views driving specific changes in investment portfolios
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NewsNet Zero engagement: asset owners publish rules for managers
The NZAOA asks investors to get engagement programmes assured and to focus on outcomes
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News‘Further work required’ on ESG and sustainable investment funds, says FCA
The regulator expects asset managers to address the good and poor practices outlined in the report to meet the requirements of SDR
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Special ReportColorado fire and police settle with Cognizant
In August 2021, Fire and Police Pension Association Colorado (FPPA), alongside other plaintiffs, reached a settlement with Cognizant Technology Solutions Corporation for $95m (€88.7m).
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Special ReportUSS settlement with Petrobras and PWC Brazilian subsidiary
In February 2018, the Universities Superannuation Scheme (USS) reached a settlement with PWC’s Brazilian subsidiary as part of a class action lawsuit against Petrobras.
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Special ReportDouble-edged benefits of litigation financing
European pension funds have become familiar with class action litigation, often tying it in with their fiduciary responsibilities as shareholders. Cases against UBS regarding its takeover of Credit Suisse; EY as auditor of fraudulent German payments firm, Wirecard; and Silicon Valley Bank, which collapsed in March, are the headliners of 2023.
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Opinion PiecesSuper funds voice corporate governance concerns with Australian business
At its recent annual general meeting in Melbourne, Qantas, Australia’s national carrier, was lambasted by irate shareholders over a litany of grievances, not least the role of chairman Richard Goyder and the board over what shareholders saw as the mismanagement of the airline.
