ESG Monthly archive

Dec 30, 2020
Pursuing a higher standard of proxy statement
The legal team at Coeur Mining is proud of the evolution its proxy statement has gone through since 2015. Last year the company won the best proxy statement award in the small-cap category, and this year it takes home the same award in the mid-cap category. In recent years, Coeur’s proxy statement has been emblazoned with the firm's miss...
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Dec 29, 2020
Bolstering ESG in the proxy
At Nasdaq, the proxy statement is produced internally by a cross-functional working group whose members all have additional jobs to do. This team includes representatives from investor relations, internal audit, legal, the corporate secretary and the design team. It’s all the more impressive, then, that Nasdaq’s 2020 proxy statement has been judged 'best in class'. Erika Moore, Nasdaq’s assistant general counsel, says it takes the working group about six month...
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Dec 23, 2020
Federated Hermes’ pioneering approach to active engagement
How many people make up the Federated Hermes engagement and responsible investing team? We have more than 60 global team members deployed across engagement, stewardship and our responsibility office. How long have you worked for Federated Hermes, and in which roles? I joined Federated Hermes in 2008 and was an equity portfolio manager and vice president prior to my current role as director of the responsible investing ...
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Dec 18, 2020
The week in GRC: BlackRock targets climate and diversity, and SEC approves natural-resources disclosure rule
The week in GRC is taking a break for the holidays and will be back in January. Happy Holidays! – Reuters reported that ExxonMobil said it plans to reduce its greenhouse gas (GHG) emissions over the next five years to support the goals of the Paris climate agreement. The world’s largest oil and gas companies face heavy investor pressure to meet the 2015 Paris climate goal of limiting global war...
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Dec 17, 2020
Driving change – Diversity and the general counsel
Diversity and inclusion will feature prominently in the thinking of many corporate leaders and investors in 2021. That means corporate secretaries and general counsel will have an important role to play in advising boards, finding candidates and devising disclosures that will help shape narratives on a key set of issues. The protest movement sparked by the disproportionate impact of the Covid-19 pandemic on people of color and the deaths of African Americans at the ...
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Dec 15, 2020
Expect move toward assurance of ESG disclosures, experts say
As investor demand for ESG information continues to increase, a group of ESG experts believe pressure will build on issuers to seek third-party assurance for ESG disclosures in the near future. Third-party assurance has been a talking point for the last two years at the ESG Integration Forum – US, hosted by IR Magazine and Corporate Secretary. At both forums, audience members have expressed trepidation about seeking third-party assurance, with common conc...
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Dec 11, 2020
The week in GRC: Vatican launches ‘inclusive capitalism’ initiative and Tesla publishes its first diversity report
– The Wall Street Journal reported that ExxonMobil faces the threat of a proxy fight from a new activist investor with a sustainability focus. Engine No 1 was preparing to send a letter to Exxon’s board urging the company to focus more on investments in clean energy while cutting costs elsewhere to preserve its dividend. The letter ident...
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Dec 08, 2020
Governance Matters: Understanding Federated Hermes’ ESG integration and emerging themes for the 2021 proxy season
For corporate governance teams, the proliferation of socially responsible investment asset managers presents both risks and opportunities. Ignore their expectations and you might expect not only a higher cost of capital but also a slew of unwelcome consequences on the proxy front. In the latest episode of the Governance Matters podcast, we catch up with Martin Jarzebowski, director of ESG and responsible investing at Federated Hermes, about his firm’s approach to ...
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Dec 04, 2020
The week in GRC: Federated Hermes targets diversity and companies press Congress on climate change
– CNN reported that a vote on whether Swiss companies should face greater liability at home for human rights and environmental abuses committed overseas did not pass. Provisional results showed that more than 50 percent of voters approved of the Responsible Business Initiative but it did not garner support from the majority of cantons and both are necessary for a referendum i...
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Dec 02, 2020
Asset managers complain over CFA’s proposed ESG standards
CFA Institute’s plan to create a global ESG standard has triggered concern among some US and European asset managers already juggling overlapping regulations and rising costs in a crowded space. Virginia-based CFA Institute, which offers chartered financial analyst certification globally, has launched a consultation, gathering feedback on its proposed principles of voluntary ESG disclosure standards for investment products. It aims to issue a draft voluntary stand...
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