EUROPE – Corporate governance consulting firm GES Investment Services has set up an ‘engagement forum’ for pension funds.

“The GES Engagement Forum enables clients to collaborate around companies’ compliance with international norms, enhancing their influence and diminishing the necessity to sell off shares,” the firm said.

The new service – building on its existing GES Active service - was developed in response to “increased client demand”.

“Since we are an independent analysis house with no connection to asset managers or companies, we can offer a unique meeting point for shareholders,” said managing director Magnus Furugård.

GES provides analyses and consultation for institutional clients with an estimated amount of assets of approximately €80bn.

The forum will be presented at a European road show in August-September.

Meanwhile, Norway’s Kommunal Landspensjonskasse says it has made “considerable progress” in its engagement with companies, although it hasn’t made any changes to its list of proscribed investments.

“It is common knowledge that KLP has a set of minimum requirements for ethics for all of its financial investments, and companies that may be associated with having breached international standards are filtered out,” KLP said.

”There is an active dialogue going on with most of the companies on the list, and major progress has been made in several of the cases,” said Cornelia Moseid, KLP’s adviser on ethics and social responsibility.

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