EUROPE – The UK's responsible investment charity FairPensions will change its name to ShareAction from today.
It stated that it had become clear that the name FairPensions did not convey the full breadth of its work.
It said: "Our new name better captures our vision of a world, where people take action to ensure their invested pensions and savings reflect their values, a world where ordinary people are able to be active and powerful participants in a responsible and sustainable capitalism.
"Although pension investments remain a central focus for us, the name ShareAction better captures our interest in other institutional investors and in the challenges that face the investment industry as a whole.
"It also clarifies that our focus is on invested pension savings, rather than the state pension or unfunded public sector schemes."
But ShareAction stressed that it would continue to inform policy debates on pensions, corporate governance and sustainability, and to alert investors and the wider public to the risks presented by environmentally and socially unsustainable practices and the dangers of improper governance.
It has just commented on a report by the US Department of the Interior, which sharply criticises Shell's Arctic exploratory drilling operations.
The report confirms that Shell was unprepared for the 2012 drilling season and that critical systems had been poorly tested.
Furthermore, the report identifies serious deficiencies in Shell's oversight of contractors.
Louise Rouse, director of engagement at ShareAction, said: "The US Interior Department report should be sobering reading for investors. Shell's inadequate preparations, lack of contractor oversight and late response to problems that arose in its Arctic drilling operations has uncomfortable echoes of the root causes of the Deepwater Horizon oil spill.
"Shareholders need to press the company urgently on its plans to address the multiple deficiencies in its operations before even considering recommencing its Alaskan Arctic project."
Meanwhile, the Carbon Disclosure Project has rebranded itself as CDP after broadening its horizon in recent years.
Paul Simpson, chief executive at the CDP, said: "We have evolved significantly, achieving substantial success along the way and have outgrown our name.
"We no longer work on the issues of carbon, energy and climate alone but have expanded to cover a wider spectrum of the earth's natural capital, specifically water and forests.
"Our platform now supports multinational purchasers to build more sustainable supply chains. It enables cities to exchange information and take best practice action.
"Further, we assess the climate performance of companies and drive improvements through shareholder engagement."
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