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ShareAction today expressed its disappointment at the Government’s rejection of the recommendation from the Law Commission to make clear in regulation that pension trustees’ should take account of environmental, social and governance (ESG) issues where these are financially material (or may become so), and may consider wider ethical factors under certain circumstances. 


The Government cites a lack of harmony amongst consultation responses as a reason for inaction. This is despite the Government supporting the Law Commission’s conclusions on fiduciary duties, and recognising that many respondents backed change. 


ShareAction welcomes the news that 29 of the FTSE 100 are now Living Wage employers.Consumer goods giant Unilever and banking group Lloyds are the latest companies in the FTSE 100 to announce their accreditation, following investor engagement led by ShareAction.

ShareAction’s campaign to get FTSE 100 companies to pay the Living Wage has been running since 2011, when just two FTSE 100 companies were accredited as Living Wage employers.


A group of MPs today asked their pension scheme, the Parliamentary Contribution Pension Fund (PCPF), for a meeting with representatives from the fund to discuss how their savings are invested. 

Taking part were Caroline Lucas, Green MP for Brighton Pavilion and Member of the Environmental Audit Committee; Barry Gardiner, Labour MP for Brent North and Shadow Minister for Energy and Climate Change; Huw Irranca-Davies, Labour MP for Ogmore and Chair of the Environmental Audit Committee; Dr Lisa Cameron, SNP MP for East Kilbride, Strathhaven and Lesmahagow; and Liz Saville Roberts, Plaid Cymru MP for Dwyfor Meirionnydd.


A coalition of 19 investors with over £625 billion in assets under management has written to 11 major automobile companies to call for improved reporting of their public policy interventions on emissions standards.

The letters to Volkswagen, BMW, Honda, Daimler, General Motors, Ford, Fiat, Peugeot and Toyota request detailed information on the lobbying position they are taking on emissions legislation currently being debated in the US and EU.


Responsible Investment NGO ShareAction has called on trade association BusinessEurope to take seriously the concerns raised by investors about its unhelpful lobbying on climate policy. 
In a letter to BusinessEurope’s President Emma Marcegaglia, ShareAction Chief Executive Catherine Howarth has challenged BusinessEurope’s defence of its position on climate change and its assertion that concerns raised by institutional investors were “inaccurate and biased”.


National Grid’s decision to accredit as a Living Wage employer brings the total number of FTSE 100 companies that have announced or applied for accreditation with the Living Wage Foundation to 24. National Grid employs 12,000 people in the UK, and so this makes it one of the largest employers yet to sign up to the Living Wage.