Governance and stewardship news

Investment firms will be expected to publish more data on their voting rights and influence over companies in which they invest under new EU rules.

The Department for Work and Pensions (DWP) has published a consultation covering UK pension schemes' climate change reporting and stewardship duties.

Left unabated, the global costs of climate inaction are equivalent to losing between 5 and 20% of global gross domestic product each year, now and forever. Achieving the goals of the Paris Agreement and the UN SDGs requires a shift in investments of US$5 to US$7 trillion per year until 2030, with climate-related costs of inaction valued at US$1 trillion per year.

The fourth edition of the Australian Stock Exchange’s Corporate Governance Principles strengthened its recommendations around board diversity.

In a second blog post in our series on Australia’s upcoming AGM season, Minerva provides an overview of the remuneration strike system and identifies key remuneration votes to look out for in 2021. This blog article is based on analysis from Minerva’s upcoming Australia Peak Season Preview briefing – say hello@minerva.info for more information.

International accounting standards group Accounting for Sustainability (A4S) is seeking input from corporate finance and investment chiefs on trends and views on the evolving ESG investment landscape.

The US Department of Labor (DoL) has reversed a controversial measure implemented under former president Donald Trump that would have inhibited pension funds from considering climate change and other environmental, social and governance factors when selecting investments and exercising shareholder rights.

The International Organisation of Securities Commissions (IOSCO) plans to establish a framework for members to understand and mitigate potential risks in working with ESG ratings and data providers.

Over 600 of the world’s largest companies are calling on G20 leaders to strengthen their national climate targets and deliver climate financing at the G20 and COP26 summits.

Banks holding shares on behalf of clients are still responsible for human rights due diligence at the companies whose shares they hold, according to the UN.

The Taskforce on Pension Scheme Voting Implementation (TPSVI) has published new recommendations to give pension savers a voice in how their savings are being looked after and encourages asset managers to engage with their clients.

Responding to Minerva's vital contributions to the new pooled fund proxy voting service from DWS, Investment Week has announced Minerva as the winner of the 'Best Sustainable & ESG Investment Initiative' for 2021.

With Australian AGM season around the corner, ESG issues look set to take centre stage as shareholder activism on environmental and social issues increases. This blog article is based on analysis from Minerva’s upcoming Australia Peak Season Preview briefing – contact hello@minerva.info for more information.

In an announcement on 30 September, the Taskforce on Nature-related Financial Disclosures (TNFD) listed 30 individuals from the financial services, corporate, and consultancy sectors who will make up the taskforce's committees.

Investors in Japanese listed companies pushed boards on director independence, diversity, and climate change in this year's proxy voting season, according to a new review.