Governance and stewardship news

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.

A group of leading Asian institutions with $4trn under management have launched a new collaboration aiming to lead the continent's push for decarbonisation in line with the 2015 Paris Agreement.

The Council of Institutional Investors (CII) has challenged the Securities and Exchange Commission's (SEC) planned changes to shareholder proposal rules.

The Competitions and Markets Authority (CMA) has published the ‘Green Claims Code’, containing guidance principles to assist businesses in complying with consumer protection law and avoid making misleading environmental claims. A full review of misleading claims will be conducted by the CMA at the beginning of 2022.