Insights for Institutional Investors I Minerva Blog

US state attorneys general escalate ESG pressure on credit ratings agencies

30 April 2026

State-level political pressure is increasingly poised to shape the boundaries of “acceptable” financial risk analysis in the US, with direct implications for the consistency and independence of credit ratings.

Trump’s Anti DEI Order Heads to Court as Investors Hold the Line

30 April 2026

US political and legal pressure on DEI is creating a growing disconnect with investor expectations, forcing boards to navigate conflicting risks between regulatory exposure and shareholder governance norms.

Stewardship after the 2026 Code: Clarity on purpose, friction in practice

29 April 2026

An early snapshot of how investors are responding to the 2026 UK Stewardship Code is beginning to emerge just as another proxy season gets under way.

BP’s AGM votes: governance opacity, not just protest

24 April 2026

BP’s 2026 AGM should be understood first as the consequence of a mishandled governance issue, and only second as a response to activist campaigning.

Minerva Proxy Update

24 April 2026

This proxy update highlights key voting outcomes from the past few weeks of the 2026 proxy season and assesses key developments for the week ahead.

Shell Faces Renewed Legal Pressure Over Future Oil and Gas Investment

23 April 2026

Climate litigation is moving upstream into corporate strategy, raising the prospect that courts could directly constrain future fossil fuel investment and redefine board accountability for capital allocation decisions.

The fiduciary squeeze is timed for when trustees can’t look up

23 April 2026

A cluster of interventions on sustainability-linked stewardship landed in the three weeks when trustees have the least capacity.

From Pensions to Power: ERISA, Stewardship and a Transatlantic Clash over Capitalism

20 April 2026

The US Department of Labor has quietly opened a new front in the long‑running campaign against proxy advice and stewardship.

Texas Climate Investing Blacklist Stays on Ice

17 April 2026

A Texas federal judge has refused to let the state revive its anti-ESG investment law while its Fifth Circuit appeal plays out.

Regulating the Raters: The FCA’s ESG Regulatory Proposals, Minerva’s Response, and What the Market Should Watch

16 April 2026

In March 2026, Minerva submitted a formal response to the FCA’s consultation paper CP25/34, which for the first time would bring ESG rating providers within the UK regulatory perimeter.

Germany Eases Pressure on Investor Collaboration

15 April 2026

Germany has abruptly narrowed its “acting in concert” standard after a rebuke from the Court of Justice of the European Union.

ExxonMobil’s Retail Voting Programme, Texas Redomicile and the Architecture of Shareholder Disempowerment

13 April 2026

On 27 May, ExxonMobil shareholders will vote on a ballot that includes a proposal to redomicile the company from New Jersey to Texas.

Aviva’s York AGM and the quiet narrowing of physical accountability

10 April 2026

Aviva plc, the UK‑listed insurer and asset manager, has confirmed that its 2026 Annual General Meeting will be held at its regional office in York on 6 May, starting at 9am.

FCA Sustainability Disclosure Proposals: A Turning Point for UK Market Transparency

10 April 2026

The FCA’s consultation CP26/5 proposes the most significant overhaul of listed company sustainability disclosure in the UK for years.

Why Switzerland’s Proposed Sustainability Bill Matters for Investors

9 April 2026

Switzerland has opened consultation on a draft Federal Act on Sustainable Corporate Governance that offers one of the clearest early signals of how European sustainability regulation is evolving after the EU Omnibus.

BP’s Climate Block Brings Investor Backlash

8 April 2026

BP’s decision to exclude a Follow This shareholder resolution from its 2026 AGM has moved beyond a technical dispute and into a direct test of board authority.

Governance and stewardship news

ISSB sets direction for TNFD-aligned reporting