These are tumultuous times at the US Securities Exchange Commission (SEC) as the agency undertakes efforts to revise rules governing shareholder rights and corporate accountability. The SEC has proposed extensive changes resulting from concerted corporate lobbying effort aimed at Trump appointees to the SEC to roll back investor protections and insulate CEOs from accountability to shareholders.
Teacher Magazine – How the British Columbia Teacher’s Federation and SHARE made history through a vote on gender diversity at Waste Connections Inc.
SHARE monitored the quarterly calls of some of the biggest companies in the world to see if they have reacted to the US Business Roundtable’s statement on the purpose of a corporation.
Even as some energy sector leaders publicly endorsed the Paris Agreement, they engaged in intensive direct lobbying and financed trade associations, think tanks or political campaigns that hindered development of effective climate regulations. The misalignment between corporate rhetoric and political advocacy also constitutes a material risk for investors.
Canadian Investment Review – Seeking to tighten regulations for proxy advisory firms would imply that these firms are doing something wrong, says Kevin Thomas chief executive officer of the Shareholder Association for Research and Education. He says this isn’t the case.
Globe & Mail – The shareholders of Waste Connections Inc. demonstrated that one female director on a corporate board is, in their eyes, no longer enough.
Globe & Mail – Canadian companies have steadily, but slowly, added women to their boards and executive ranks over the past decade as they respond to pressure from shareholders. The shift has been due in large part to regulations that forced them to disclose their gender diversity and explain how they intend to improve it.
Benefits & Pension Monitor – Green banking initiatives have not changed lending and investment practices, says a report from Boston Common Asset Management in partnership with a number of regional partners, including its Canadian partner SHARE. It finds that, despite an explosion of risk assessment tools and green banking industry initiatives in recent years, practical change in the financial sector remains elusive.