The Magazine of Corporate Responsibility

Tag Archive for ‘CalPERS’

Proxy Voting for Sustainability

A sustainability advocate argues that it is illogical – and quite myopic – that many large institutional investors refer to shareholder resolutions on climate change and other material issues as “special interest,” “non-routine” or involving “special circumstances.” The opposite is true, she says: if companies aren’t addressing sustainability they won’t be producing long-term value for their shareholders.

Improve Public Trust: Transform the Nominating Committee

Corporate governance expert Paul Strebel says there’s need for a “fundamental change” in the way board directors are nominated, with members of the nominating committee drawn from a more diverse group of stakeholders than has been the case. “To improve public trust in business, the search for board directors has to extend beyond the world of top executives,” he says.

Senate Negotiators Move to Limit Proxy Access in Finance Bill

To the dismay of activist investor groups, Senate Banking Committee chairman Christopher Dodd proposed that investors seeking to nominate directors for shareholder votes be required to own at least a 5% interest in the company for two years. Few, if any, institutional investors would be able to meet such a requirement.

SEC Votes for Improved Disclosure on Climate Risk

In an action hailed by environmental groups as “ground-breaking,” the U. S. Securities and Exchange Commission voted to provide guidance to publicly-listed companies regarding the level and quality of their disclosures on climate change and its “material” impact on their businesses.

Financial Crisis Commission: Watch Out for Phil Angelides

There will no doubt be a fair amount of theater this week as the Financial Crisis Inquiry Commission holds its first public hearings exploring the causes of the 2008 financial crisis that nearly catapulted the U.S. and world economies into a 21st century Great Depression. While many will focus attention on the star bankers testifying, there’s another potential star in this drama that you might want to keep on eye on: the commission’s chairman, Phil Angelides.