Greater powers for shareholders and tighter rules in respect of audit have been key proposals of the Local Authority Pension Fund Forum (LAPFF) in its recent work on financial reporting in the wake of the financial crisis.
The East Riding Pension Fund is the 50th fund to join the Local Authority Pension Fund Forum. Rodney Barton, Head of investments at East Riding said “The East Riding Pension Fund has decided to join the LAPFF as it will contribute to our aim of maximising shareholder value through active engagement on issues in accordance with the Fund's Corporate Governance and Voting Policy.”
The Local authority Pension Fund Forum (LAPFF) has given its support to efforts to improve corporate governance and strengthen shareholder engagement in the wake of the financial crisis
Given the scale of the vote at the Marks and Spencer AGM today on resolution 16, (37.7% vote in favour, the abstentions calculation is not clear at this stage) LAPFF are looking forward to an immediate dialogue with the company about how it plans to respond. We will also be talking to other supporters of the resolution to listen to their views on the way forward. More broadly this is a significant day for shareholder engagement. Sometimes shareholders need to step up and be public with their concerns and use their voting rights effectively. We need to get past the idea that meetings behind closed doors are always the answer.
The Local Authority Pension Fund Forum (LAPFF) has signalled its support for Sir Stuart Rose at Marks & Spencer but urged investors to support its resolution calling for the company to appoint an independent chair by July 2010.
Proxy voting advisory services have backed the Local Authority Pension Fund Forum’s shareholder resolution at Marks & Spencer seeking the appointment of an independent chair.
The Local Authority Pension Fund Forum (LAPFF) has urged companies, investors and remuneration consultants to strengthen the link between executive pay and long-term performance by making pay under long-term incentive plans (LTIPs) conditional on the achievement of non-financial performance targets.
The Local Authority Pension Fund Forum (LAPFF) has pledged to push for governance reform in a public statement on its post-crisis agenda issued today.
The Local Authority Pension Fund Forum (LAPFF) has called on its members to oppose both the re-election of a member of the remuneration committee and the discharge of the board at the forthcoming Annual Meeting at KBC, the Belgian banking and life assurance group.
The Local Authority Pension Fund Forum (LAPFF) has called on its members to oppose the remuneration report at Tullet Prebon, the UK-based inter-dealer broker.
The Local Authority Pension Fund Forum (LAPFF) has called on its members to withhold their support for the members of the compensation committee of T. Rowe Price, the US-based financial services holding company.
The Local Authority Pension Fund Forum (LAPFF) has filed a shareholder resolution at Marks & Spencer calling for the company to appoint an independent chair by July 2010.
Local authority pension funds have signalled their support for urgent action on climate change by backing international collaborative investor engagement.
Local authority pension funds will file a shareholder resolution at Marks & Spencer?s annual general meeting in 2009 if the company continues to breach corporate governance best practice.
The Local Authority Pension Fund Forum (LAPFF) will lend its support in 2009 to shareholder resolutions that seek greater disclosure from major US companies in the oil and gas, transport and mining sectors on their responses and strategies to climate-related business trends.
The Local Authority Pension Fund Forum (LAPFF) has welcomed BG Group's introduction of an external target to reduce its group-wide greenhouse gas (GHG) emissions.
Local authority pension funds have told Marks & Spencer that they do not support the company's decision to appoint Sir Stuart Rose as executive chairman.
The Falkirk and City of London pension funds are the latest local authority funds to join the Local Authority Pension Fund Forum.
The Haringey and Waltham Forest pension funds are the latest local authority funds to join the Local Authority Pension Fund Forum.
Performance-based pay for executive directors is not tied closely enough to management of non-financial business issues, research by the Local AuthorityPension Fund Forum (LAPFF) has found.
Cllr Ian Greenwood has been appointed as chairman of the Local Authority Pension Fund Forum following its annual general meeting on Tuesday.
The Local Authority Pension Fund Forum has welcomed FirstGroup's appointment of Professor William B Gould IV as independent monitor within its programme tracking implementation of its policy on freedom of association.
Pension funds are being encouraged to engage with companies over merger and acquisition activity, following the publication of a trustee guide by the Local Authority Pension Fund Forum (LAPFF) at its annual conference in Bournemouth.
A leading pension fund body has shown its commitment to shareholder engagement by backing the Principles for Responsible Investment (PRI), an investor initiative in Partnership with UNEP FI and the UN Global Compact.
A quarter of the UK's larger companies do not provide proper reports to shareholders on audit practices, a leading pension fund group has claimed.
Investors are being encouraged to engage with companies over human capital issues, following the publication of a trustee guide by the Local Authority Pension Fund Forum (LAPFF).
1. Government should adopt more rigorous targets than those set out in the draft Climate Change Bill, a major group of institutional investors has claimed. The Government's proposed legislation calls for at least a 60% cut in carbon emissions by 2050, but the Local Authority Pension Fund Forum (LAPFF) believes a tougher target should be set.
Just nine of the UK's leading fund managers publicly disclose comprehensive data on how they exercise their shareholder voting rights, with the majority of fund managers continuing to disclose no information at all, according to research by the Local Authority Pension Fund Forum (LAPFF).
Local authority pension funds are being urged to vote against the remuneration report of Shell at its forthcoming AGM following the company's failure to link directors' pay to management of non-financial issues, such as health and safety, with long-term pay awards.
LAPFF continues to press for remuneration reforms at BP in the wake of AGM vote
Local authority pension funds will oppose the remuneration report of BP at the company's forthcoming AGM as a result of concerns about insufficient linkage between executive pay and health and safety performance.
Shareholders are being denied information on companies' policies on equal pay despite its increasing importance as both a legal and corporate social responsibility issue, a major investor survey has revealed.
Pension funds will be able to assess their investment managers engagement with companies over labour standards in China using a new guide produced by the Local Authority Pension Fund Forum
Local authority pension funds will initiate a major shareholder engagement campaign during 2007 aimed at improving company audit practices.
BP must make improvements to remuneration policy, due diligence processes and internal monitoring in order to avoid further damaging safety failures, LAPFF has told the company.
The Local Authority Pension Fund Forum (LAPFF) is a co-signatory to a letter to Christopher Cox, chairman of the US Securities and Exchange Commission (SEC), calling for the introduction of shareholder advisory votes on executive compensation.
Phil Woolas MP, Minister for local government and community cohesion will speak at the annual conference of the Local Authority Pension Fund (LAPF) Forum on the future governance of the local government pension scheme (LGPS).
LAPFF challenges UK fund management industry to make shareholder engagement effective: Updated Guidelines published
LAPFF challenges FTSE 350 on equal pay for women employees
The Local Authority Pension Fund Forum (LAPFF) today publishes the results of a major study on addressing and managing the risks relating to operating in the People's Republic of China.
LAPFF Pension Funds Challenge Royal Bank of Scotland On Remuneration Disclosure
The Local Authority Pension Fund Forum (LAPFF) today welcomed comments from the chairman of Tesco, John Gardiner, at the company's AGM that the company would "look again" at the issue of the existing directors' contracts.
Cllr John Saunders, Deputy Chairman of the Local Authority Pension Fund Forum today attended the Glaxosmithkline plc AGM and challenged the board to justify the performance targets used to determine the vesting of options under the company's executive share option scheme.
Companies improve greenhouse gas reporting but further action needed
25% oppose Selfridges executive option scheme
Pension funds criticise Selfridges executive option scheme
LAPFF reveals new shareholder engagement on labour standards