Church investors call for guaranteed working hours from U.K. companies
The Church Investors Group wants U.K. companies to guarantee minimum working hours for all employees.
A group of investors with more than £21 billion ($29 billion) in assets wants U.K. companies to provide guaranteed minimum working hours each week for employees.
The Church Investors Group, which represents 60 members, including the £3 billion Church of England Pensions Board, London, is contacting a select group of U.K. firms to encourage them to provide working hours in line with the Living Hours initiative. The initiative calls on employers to provide the right to decent notice periods for shift work and a right to a contract with living hours a guaranteed minimum of 16 hours per week.
By Susanna Rust2021-03-16T14:23:00+00:00
Nestlé is to give shareholders a vote on its climate strategy at its upcoming annual general meeting (AGM), prompting Ethos Foundation, a Swiss pension fund-backed organisation, to withdraw a shareholder resolution requesting such a move.
The shareholder resolution had been jointly submitted by seven Swiss pension funds. In December, Ethos had written to the board of directors to encourage the company to offer an advisory vote on their climate change-related plans.
In a statement, Ethos said it welcomed Nestlé’s decision, “which is based on numerous discussions between the company’s board of directors and Ethos”. However, it expected the “say on climate” practice to be permanent, and for Nestlé to submit to the AGM each year a specific report outlining the progress it had made towards achieving climate neutrality.
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Date: 27 May 2021
Major investors apply net-zero alignment framework to $8trn of assets
A coalition of 35 big-name investors has become the first to apply a new net-zero investment framework to their portfolios, with $8trn of assets covered.
The framework is designed to help investors deliver long-term net-zero financed emissions goals
Among the first adopters of the Institutional Investors Group on Climate Change’s (IIGCC) framework are Scottish Widows, Aberdeen Standard, Brunel, Nest, Legal & General Asset Management, the Church of England Pensions Board and the Environment Agency Pension Fund. Collectively, the 35 initial adopters are applying the model to $8trn of assets.
The framework was first trialled in real-world scenarios in the second half of 2020, on portfolios totalling $1.3trn. It is designed to help investors assess how and when to divest from high-emitting companies without credible decarbonisation plans; engage with companies that are developing such plans, and invest in more pr