Shareholders Archive

Jun 21, 2019
How CalSTRS makes sustainability work
As a portfolio manager, how do you interact with other teams within CalSTRS on ESG issues? The group I’m in used to be called corporate governance; we recently changed our name to sustainable investment and stewardship strategies. CalSTRS has had ESG considerations in the investment department for decades, [but] around 15 years ago we started to build out our capacity to understand and act on ESG issues. Back then, my CIO Christopher Ailman ...
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Jun 21, 2019
Focusing on data analysis and engagement at AllianceBernstein
Can you outline some of the key aspects of AllianceBernstein’s ESG philosophy? We think about ESG as simply good research. As analysts, we are looking at companies – but you need to look at all factors that are important to a company in a particular industry. As a signatory to the UN [Principles for Responsible Investment], we agree to integrate ESG factors into the investment process. When you think about it, shouldn’t analysts be consi...
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Jun 19, 2019
Launching an impact-investment effort at Spouting Rock
What is the history of Spouting Rock and who are its clients? Spouting Rock began as a single family office. It was founded by our current president, Blakely Page. He had been doing investments for his own family – he has a long career on Wall Street – and then the firm established a merchant bank and broker-dealer side. In 2017 it started an asset management division. We have a handful of investment products; they’re not necessarily go...
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Jun 17, 2019
The Vanguard of ESG engagement
When Adrienne Monley started in the stewardship arm of Vanguard in 2015, as a leader on the US side, there were around a dozen people working in the team. That has since tripled in size and Monley moved to London in January 2018 to hire and establish a new stewardship team with a specific focus on European firms. ‘This globalization has been very deliberate on our part...
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Jun 06, 2019
Shareholders back diversity report proposals
Shareholders have in the past few weeks given their support to at least two proposals seeking to boost disclosure about diversity. According to a regulatory filing by The Travelers Companies on its May 22 AGM, roughly 51 percent of votes supported a proposal by Trillium Asset Management requesting that the company prepare a report for investors including: A c...
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May 31, 2019
The week in GRC: ExxonMobil shareholders reject climate proposals, and ruling raises concerns over SEC whistleblower policy
– The Guardian said that Democratic presidential candidate Bernie Sanders is planning to gatecrash Walmart’s shareholder AGM to demand that the company increase its 2.2 million workers’ ‘poverty wages’. Sanders, a long-time critic of working conditions at Walmart, will introduce the workers’ proposal at the AGM on June 5, although there i...
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May 10, 2019
Kellogg shareholders vote for annual director elections
Kellogg Company shareholders have backed a move to introduce annual elections for directors but will have to vote for additional measures if the change is to be implemented – a hurdle they have not overcome at a previous attempt. The vote took place at the Kellogg AGM held late last month in Battle Creek, Michigan. Specifically, the propo...
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May 10, 2019
Mastercard AGM to feature human rights and gender pay votes
Mastercard shareholders will vote on proposals regarding human rights and gender pay at the company’s AGM on June 25, after the company failed to get permission to exclude the measures. The proposals are another example of the increasing focus on human capital management – which covers a wide range of issues such as diversity, inclusion, talent development, succession planning and workplace culture and misconduct – among shareholder measures over the past coup...
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May 01, 2019
Shareholder activism in Canada declines sharply
The number of Canadian firms publicly targeted by activist investors in the first quarter of 2019 is down 43 percent on the same period last year. Whereas Q1 2018 saw 32 firms come under attack by activists, data from Activist Insight shows that just 18 were the subject of a campaign in Q1 2019. ‘Activism has slowed in Canada this year, partly because mining stocks have rallied after last year’s bear market and begun to address their weakness through M&am...
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