Major investor will target bosses at firms failing on climate

1/23/2022 8:39:00 PM

Investor targets bosses at firms failing on climate

Investor targets bosses at firms failing on climate

Aviva Investors will vote to get directors kicked out of firms that fail on sustainability goals.

A major UK investment fund has said it will vote to try to get directors kicked out of firms that fail to make good on environmental pledges.BlackRock, the world's largest fund, has told the firms it invests in to step up on sustainability or face the consequences.

"We will hold boards and individual directors accountable where the pace of change does not reflect the urgency required," said the annual letter from Aviva Investors boss Mark Versey."This is of serious concern as ecosystem services provided by the natural world underpin our economies and societies and will increasingly become an important driver of company valuations," Mr Versey said, adding that more than half of the world's economic output is "reliant on biodiversity".

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AvivaUK avivaplc avivainvestors seem to have forgotten that they have built 3 incinerators in Hull Boston and Barry. Hypocrisy at its best. Get your own business in order before you start telling others! Sure they do

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Getty Images Image caption, Aviva Investors will seek to remove board directors of firms that continue to take part in deforestation A major UK investment fund has said it will vote to try to get directors kicked out of firms that fail to make good on environmental pledges.CNN that they don’t have any information “indicating any specific, credible threats related to the events occurring .Pointing out that concrete is the most widely used material in the world after water, Mr Emerson said an increase in diesel costs would have to be passed on to the consumer.Lord Drayson was “delighted” about taking his health technology start-up public.

Aviva Investors also wants bosses' pay to be linked to sustainability goals. It is the latest big investment firm to ramp up the pressure on corporations in a bid to make them clean up their acts.. BlackRock, the world's largest fund, has told the firms it invests in to step up on sustainability or face the consequences. Image source, Getty Images Image caption, Building supply costs have already surged globally and trade bodies fear an increase in diesel costs will cause some businesses to fail Four of Northern Ireland's trade bodies representing the sectors affected have also warned that costs will increase from April. Aviva Investors, which has £262bn of assets under management, set out its expectations in a letter that will be sent to 1,500 firms in 30 countries this week. But they added that “the United States is in a period of heightened threat,” noting that both domestic and foreign extremists remain as possible threats. The fund said it had broadened its definition of sustainability and would now focus on issues such as biodiversity and human rights, alongside existing priorities like climate change and executive pay. Following a bumpy stint on Aim Sensyne’s value crashed earlier this month to less than £30m.

"We will hold boards and individual directors accountable where the pace of change does not reflect the urgency required," said the annual letter from Aviva Investors boss Mark Versey. No credible specific calls for violence have been made, but problematic online chatter, such as the perceived ineffectiveness of nonviolent action and speculations that the demonstrations are being organised by the authorities to arrest attendees, has been detected. "A reasonable extension of time would allow the more timely transition to alternative fuels and protect jobs and our economy, ultimately enabling the carbon reduction we all seek," he added. Easy ways to make your savings fight climate change Mr Versey said there had been an "alarming" 68% decrease in animal and plant species between 1970 and 2016. "This is of serious concern as ecosystem services provided by the natural world underpin our economies and societies and will increasingly become an important driver of company valuations," Mr Versey said, adding that more than half of the world's economic output is "reliant on biodiversity". “The objective is to make sure that those who are coming to the District to engage in constitutionally protected events can do so in a safe manner,” they said. On human rights, Aviva expects companies it backs to scrutinise the impact they have when doing business, and to take action to stop harm." Although agricultural machinery like tractors and diggers will still be able to run on red diesel, concerns have been raised about farmers in Northern Ireland who also use that machinery for construction purposes. Firms will need to give more detailed explanations of how they intend to meet environmental goals, it added. The organisation has been identified as one of the largest sources of misinformation about vaccines.4m in emergency fundraising, with the potential for a further £5m.

Mirza Baig, Aviva Investors' head of environmental, social and corporate governance, told the BBC that some companies intentionally set vague targets to avoid being held to account. He said Aviva would increasingly use its vote as a shareholder to try to oust directors at firms that had a "high impact" on the planet but did little to rectify this. “Defeat the Mandates” march director Louisa Clary told the outlet that they have “contracted out comprehensive private security who will work in concert with local and federal law enforcement in keeping this march peaceful”. The statement from HMRC added: "You will need to retain evidence to confirm the correct fuel has been put into the fuel tank. The fund may also vote against executive pay deals if a firm is falling short, and as a last resort could withdraw its investment. 'Things could be different' Last year 280 firms changed their practices after pressure from Aviva Investors, Mr Baig said. Recommended. However, he urged more big investment firms to use their "loud" and "influential" voices to drive change. More on this story. “Why it isn’t riding this wave is the million pound question,” rues one insider.

"If there was enough pressure being put on businesses then the world would look very different," he said. Big investment funds are increasingly leaning on firms to make them change the way they do business. Last week Larry Fink, the chief executive of BlackRock, the world's biggest investment fund, denied that the firm was being "woke" in calling for stronger climate policies from companies. Instead, he said the move made good business sense at a time when the public increasingly expects companies to behave ethically. in its outlook, adding: "Make no mistake, the fair pursuit of profit is still what animates markets; and long-term profitability is the measure by which markets will ultimately determine your company's success. More than that, it was “appropriate for a business working with sovereign UK patient data”, given the required transparency and corporate governance standards.

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