Corporate governance – Page 63
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NewsChurch of England leads shareholder rebellion at Exxon
More than 40% of shareholder votes support splitting chairman and CEO roles as investors increase pressure over climate change measures
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NewsSwiss authorities consider ban on pension broker commission
Pension fund association Asip has supported plans to overhaul the country’s rules on fees paid to brokers for promoting second-pillar funds
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Frankfurt-based index provider Solactive backs UK proxy voting firm
Solactive has made a ‘significant strategic’ investment in Minerva Analytics, which was founded after a management buyout of Manifest
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NewsSweden revamps AP fund boards with industry veterans and academics
New chairs for AP1 and AP3, along with three new deputies and 12 new board members across the €126bn system
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Investors remain unconvinced on financial benefits of diversity
Some major asset owners are concerned that focusing too much on workforce diversity could put them in breach of their fiduciary duty
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NewsSSGA presents ‘game-changing’ ESG scoring system
SASB-based transparent system incentivises companies to improve practices and reporting of environmental, social and governance issues
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NewsManagers urged to comply with new cost disclosure templates
Minister warns government could legislate to enforce new transparency codes if managers fail to adopt the templates voluntarily
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Church fund to vote against entire Exxon board over climate change
Church of England’s £8.3bn endowment fund joins forces with New York public pension fund to increase pressure on oil giant
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NewsOil companies not attractive without climate commitment, say managers
UKSIF and Climate Change Collaboration find nearly a quarter of managers believe oil companies are uninvestable
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LGPS funds face more change as governance consultation launched
Hymans Robertson has put four options for structural reform to LGPS staff and stakeholders
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KPMG review raps AP1 boss over staff trip
Auditor concludes Magnusson should have raised proposed staff trip to France with board
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British Airways settles six-year dispute with pension fund
Airways Pension Scheme trustees can reintroduce discretionary benefit increases after funding position improves
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NewsAccounting roundup: Guidance issued on pension equality costs
Plus: Hybrid pension plan accounting; Politicians call for break up of ‘big four’; FRC publishes draft plan and budget
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NewsNetherlands roundup: Schemes ‘must reclaim mistakenly paid benefits’
Also: KLM’s cabin staff scheme opts for two-tier board in governance shake-up
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Danica to divest weapons exporters to Saudi Arabia after govt ban
Danish pension fund and parent Danske Bank to sell off ‘case by case’, says CIO
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UK asset manager body rejects FRC’s proposed stewardship definition
Investment Association calls for ‘careful redrafting’ of proposed new stewardship code
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UK pension fund body targets consolidation in strategy update
Pensions dashboard, cost transparency and improving standards placed at the centre of four-year plan
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UK lawmakers urge asset owners to act on executive pay
BEIS committee says main responsibility for bringing about change lies with asset owners, not asset managers
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Norwegian SWF ‘slow to act’ on climate-related exclusions
‘Moving targets’ on climate change measurements has made blacklistings hard to put in place, says ethics council
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NewsESG roundup: Corporate reporting alignment project moves ahead
Plus: PPF backs Transition Pathway Initiative, BNPP AM tightens coal policy
