If you think Monday’s oil price collapse was bad, hang on. More bad news could be on its way in the weeks ahead in corporate annual general meetings across North America. Two unregulated, U.S.-based proxy advisory firms are influencing the voting decisions of Canada’s largest institutional investors with elaborate environmental, social and governance screens that are the object of lobbying by radical environmental groups.
In a June 2018 paper for a Harvard Law School forum, lawyers David M. Silk, David A. Katz, and Sabastian V. Niles warned corporate boards to be prepared for the 300+ questions on ISS’s “Environmental & Social Quality Score” request. “Some of these entities seek to impose, on public companies, the burden of providing data for third-party subscription-based services,” they wrote.
ACCF found that different metrics, weighting and definitions of what constitutes ESG can produce widely varying scores. For example, Tesla has scored far below Volkswagen’s ranking in ESG screens from Sustainalytics, a global ESG research firm, despite VW being embroiled in an emissions-control scandal. Some biases appear to emerge mainly from which industry a firm operates in, rather than anything it has done.
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CTVNews - 🏆 1. / 99 Read more »
Source: nationalpost - 🏆 10. / 80 Read more »