Business leaders and managers are being challenged by the rising expectations of stockholders and stakeholder with regard to the corporate performance in the areas of ESG (environmental, social issue and governance) performance. Peers and competitors are increasingly setting the pace for industries and sectors as they create and implement sustainability and corporate responsibility strategies and actions. Who cares about this? Asset owners and asset managers looking at investments through the ESG/Sustainability lens. And third party stakeholders who are setting the pace in ESG research, standard setting (for industries), media, issue advocates…and others watching the corporate sector. Our team is watching the watchers for you. We bring you news, commentary and research in key areas of interest for both investors and asset managers -- and for corporate boards, executives and managers. As Sustainability and ESG frameworks are adopted by more investors, the capital markets are determining winners, laggards and losers. Track the trends, the news, updates, the important developments – makeSustainability HQ™ your headquarters for ESG knowledge management. ESG / Sustainability 3 Sustainability Lessons from the Ceres Conference
(Source: GreenBiz) The Ceres-ACCA (Association of Chartered Certified Accountants) North American Awards for Sustainability Reporting went to Nike for Best Sustainability Report, followed by first runner-up American Electric Power (AEP). Anvil Knitwear, a small, private B2B-focused apparel manufacturer, was recognized for best first-time report and SAP AG recognized for innovative use of web and social media. While the awards alone might not be big news, the story behind them reveals some great advice for companies at the beginning of the sustainability journey. Associated Profiles : Ceres Despite Shareholder Vote, Coke Keeping Bisphenol A
(Source: International Business Times) Since roughly 2007, conflicting reports have been featured in the news calling it both safe and a health risk. BPA is an estrogen-mimicking chemical found primarily in plastics; but it has also been found in the adhesives in can linings — in direct contact with food and drink. Facing pressure from shareholders, Coca-Cola recently voted on a shareholder resolution to remove BPA from can linings. One in four shareholders voted to approve the resolution — about 26%. Associated Profiles : As You Sow Japan Disaster Boost for Green Energy
(Resource: CRI English.com) The nuclear disaster at Japan's Fukushima Daiichi nuclear power plant in March has led many to question the safety of nuclear power. Japan itself recently announced plans to close its third biggest nuclear plant in Shizuoka prefecture following concerns it could be vulnerable to a future earthquake. The new uncertainty over the safety of nuclear power has led many to look for alternative sources of energy. And, as CRI's Dominic Swire finds out, the renewable energy sector is likely to benefit. Associated Profiles : Bloomberg New Energy Finance US companies less likely to assure sustainability data
(Source: Global Reporting.org) Companies in the US are less likely to have their sustainability performance data checked than those in other countries, according to the Global Reporting Initiative (GRI). Figures from the GRI Reports List published today (Wednesday 11 May 2011), alongside GRI’s Year in Review 2009/10, suggest that the proportion of GRI sustainability reports from the US being assured is 66 percent lower than the global average. Associated Profiles : UN - Global Reporting Initiative GRI Commentary Justifying $15 Trillion for Renewables
(Source: Geoffrey Styles, Energy Outlook) Yesterday I received a joint press release from a group of renewable energy trade associations. It touted a new report from the UN Intergovernmental Panel on Climate Change (IPCC) on the potential growth of renewable energy by 2050. The report has already garnered an impressive array of headlines, such as "Renewable Energy Can Power the World" and "Renewable Energy Key to Solving Climate Change". The headline from the Financial Times was characteristically more concrete, "World faces $15,000 bn renewable energy bill." Unfortunately, although the final report, rumored to run 1,000 pages, might support all of those conclusions when it is issued at the end of the month, the 25-page "Summary for Policymakers" falls far short of inspiring such confidence. Heaven help those policymakers if the summary is all they actually read. Research Packaging survey: Sustainability even more important than price (Source: Plastics Today) According to DuPont's survey last month of nearly 500 professionals at consumer packaged goods processors and converters, sustainability is their companies' top concern, even more than concerns about cost. Almost 40% of those surveyed identified sustainability issues as the top challenge facing the packaging industry, according to DuPont's survey, followed by 33% who named cost issues. Sovereign Wealth Funds Nigeria: House Passes Sovereign Wealth Fund Bill
(Source: AllAfrica.com) Abuja — The House of Representatives Tuesday concurred with the Senate in the passage of the Sovereign Wealth Fund (SWF) Bill into law. The legislation, which had earlier been passed by the Upper Chamber of the parliament, was simply read on the floor and lawmakers affirmed by voice vote that it be passed into law without further deliberations since the other chamber had done a good job on it. Associated Profiles : Excess Crude Account (Nigeria) Norway’s Wealth Fund Rose $11 Billion in Quarter
(Source: Bloomberg) Norway’s sovereign wealth fund returned 59 billion kroner ($11 billion) in the first three months of 2011, the smallest gain since last year’s second quarter, as European bonds slumped. The $573 billion Government Pension Fund Global returned 2.1 percent, as measured by a basket of currencies, the Oslo- based investor said today. The equity portfolio returned 2.9 percent and fixed-income investments climbed 0.7 percent, led by gains in covered bonds. European bonds fell 1.1 percent. Group for sovereign wealth funds defends investment role, says they foster global stability
(Source: Washington Post) BEIJING — Representatives of the sovereign wealth funds of China, Australia, Russia and other governments defended the funds against criticism they use their investments for political ends, saying Thursday that they are a force for global stability. At the end of a two-day meeting, representatives to the International Forum of Sovereign Wealth Funds said such funds should be treated as normal investors so long as they disclose their government mandate and act as commercial entities. Associated Profiles : China Investment Corporation, National Wealth Fun |
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United States Pension Funds Higher Employee Contributions Reduce State Pension Costs
(Source: CalPERS) The State of California will contribute $170 million less for State employee retirement benefits next year due to State employees paying more toward their pensions and lower than expected state payroll and cost-of-living increases. According to an actuarial analysis presented today to a committee of the California Public Employees’ Retirement System (CalPERS) Board, the State contribution will be $3.51 billion for the fiscal year that begins July 1, 2011. For the current fiscal year, the State is expected to pay $3.68 billion. The projected contribution amounts are based on the State’s expected payroll. The rate recommendation will go to the full CalPERS Board for approval tomorrow. Associated Profiles : California Public Employees’ Retirement System (CalPERS Shareholders give BoA heads a bashing
(Source: Channel News Asia) Shareholders and home loan customers ran roughshod over Bank of America's management Wednesday, as its chief executive said it was still struggling with its mortgage portfolio in a deeply troubled housing market."We are a much stronger company than last year," CEO Brian Moynihan said at the largest US banks shareholder meeting in Charlotte, North Carolina. Associated Profiles : New York City Comptroller’s Office: Bureau of Asset Management Cuomo Plans to Propose Changes to New York State Pension System
(Source: San Francisco Chronicle) New York Governor Andrew Cuomo said he will introduce a bill that curbs the costs the state and local governments pay on employee pensions "within days." "We can't afford the public pension system we have in this state, period," Cuomo, a Democrat, said today in a briefing with reporters in Hempstead on Long Island. The plan will include a proposal to mitigate so-called pension padding, in which employees artificially inflate their salaries with overtime pay. Associated Profiles : New York State Common Retirement Fund CalPERS Commits to Campaign for Innovative Environmental Sustainability
(Source: Cal PERS) Anne Stausboll, Chief Executive Officer of the California Public Employees’ Retirement System (CalPERS) and speaking as Co-Chair of Ceres, has announced plans to implement environmental, social and governance (ESG) commitments that were developed by a diverse group of key economic players. “Two dozen top executives from Fortune 500s, organized labor, foundations, investment firms and pension funds discussed the urgency of the challenges before us and what we could do collectively and individually to catalyze global-scale action,” she said in opening the May 11-12, 2011 Ceres Conference. Associated Profiles : California Public Employees’ Retirement System (CalPERS), Ceres Watching the Watchers  Glass, Lewis & Co. LLC
Headquarters: San Francisco, California
Established: 2003
OVERVIEW / MISSION
Glass Lewis sums up its activity: “Glass, Lewis & Co. LLC is the leading independent governance analysis and proxy voting firm, serving institutional investors that collectively manage more than $15 trillion in assets.” The firm claims that its mission is “to be known as the world's leading governance analysis and proxy voting firm by offering independent research and best-in-class execution solutions that empower our clients to vote their proxies in the interest of long-term, sustainable shareholder value.”
News Sweeps Amgen shareholders may question executive compensation at annual meeting
(Wednesday - May 18, 2011) Associated Profiles : Glass, Lewis & Co. LLC - The discussion over executive compensation follows calls from Institutional Shareholder Services Proxy Advisory Services and Glass Lewis & Co. to vote against the company's named executive compensation and in ... Harvest to Heat at the Philip Johnson Glass House
(Wednesday - May 18, 2011) Associated Profiles : Glass, Lewis & Co. LLC - In addition to touring the buildings, grounds, and art collections at the Glass House, guest will enjoy dishes prepared by five chefs featured in Harvest to Heat: Michel Richard (Michel Richard Citronelle in ... Proxy advisers recommend Cascade Financial's merger
(Tuesday - May 17, 2011) Associated Profiles : Glass, Lewis & Co. LLC - Cascade Financial Corp., the parent company of Cascade Bank, today announced that Institutional Shareholder Services Inc. and Glass Lewis & Co., two of the leading independent US proxy advisory firms ... [more] |
