ESG roundup: France’s Ircantec launches energy poverty initiative

first_imgAt the end of the year Anah will report on the effectiveness and relevance of the offer. If the results are positive it will be extended to the entire country.The initiative forms part of Ircantec’s work to alleviate energy poverty and the pension scheme’s wider social action policy. It aims to prevent its most vulnerable retirees from losing their independence and encourage them to look after their homes.The initiative was motivated by the results of a survey Ircantec carried out last year, which showed that the vast majority (85%) of respondents did not undertake renovation work in their homes due to a lack of support and resources.The respondents tended to be women living on their own, on average 70 years old, on low incomes of €10,000-€12,000 a year, and owners of houses that are more than 30 years old – and hence most of the time poorly insulated.Fellow French public sector pension scheme ERAFP has also engaged in a housing initiative for the benefit of its members. Large UK pension investor joins IIGCC Brunel Pension Partnership (BPP), the £28bn (€31.8bn) asset pool for 10 UK local government pension schemes, has become a member of the International Investors Group on Climate Change (IIGCC).It is the first of eight such pools to join the group. Dawn Turner, CEO of BPP, said: “Improving our knowledge-base on climate change will benefit our clients as we strive to help them to achieve their investment objectives. IIGCC provides a platform for conversation, information-sharing and collective influence.”Bristol-based BPP is in the process of establishing a network that will assist in delivering on the commitments implied in Brunel’s investment principles and values and considers IIGCC a key organisation in this area, according to a statement.Several of BPP’s senior staff transferred from the Environment Agency Pension Fund, which is also a signatory to the IIGCC.    ICGN sticks to its guns on differential ownership rightsThe International Corporate Governance Network (ICGN) has reiterated its opposition to differential company ownership rights, calling for benchmark stock indices to disallow shares with differential ownership rights and setting out recommendations for action from investors.In a nuanced briefing note, it acknowledged that not all institutional investors – including some ICGN members – were in favour of exclusion and that global index providers had responded well to concerns relating to dual class shares in their indices.But not enough had been done to protect investors from differential ownership in benchmark indices, according to ICGN.Investors could therefore take steps, such as encouraging companies with existing dual class structures to introduce sunset provisions that would result in the elimination of such structures over time as the company evolved.Investors could also encourage index providers to stop adding new dual class shares into benchmark indices.ICGN’s opinion can be found here.Earlier this year Swedish state pension fund AP7 settled a lawsuit with Facebook, which had proposed an overhaul of voting rights for different classes of shares. CEO Richard Gröttheim said the victory had saved investors as much as $10bn.Wanted: Pension scheme views on responsible investingInvestment consultancy Aon is seeking the views of pension schemes around the world on environmental, social and governance matters and responsible investment.It has put together a short survey of mostly multiple choice questions that can be completed here: tweaks proxy voting guidelinesEthos Foundation, the Swiss pension-fund-backed proxy voting agency, has adjusted its voting guidelines and corporate governance principles for 2018.Next year’s edition specifies Ethos’ criteria for approving a company’s remuneration report. Ethos will pay particular attention to the vesting of deferred variable pay in the form of shares and the information the company provides about this. It expects companies to be more transparent about this aspect of pay. French €9.8bn public pension scheme Ircantec is offering its pensioner members financial support to carry out energy efficiency work on their homes.It is offering to contribute €1,500 towards improvement costs, on top of support available from Anah, the national housing agency, and local authorities engaged in home improvement programmes.Ircantec is also offering a “social loan” of €500-€10,000 at a rate of 0% and repayable over a period of between one and five years.The experimental offer is due to be offered over a period of one year from 1 January to 200 households in Brittany, Pays de Loire, Hauts de France, Grand Est and New Aquitaine. It will primarily target households in areas covered by public housing support programmes.last_img read more

‘La Liga will go on without Messi as it did without Ronaldo’

first_img Promoted ContentYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeDid You Know There’s A Black Hole In The Milky Way?What Happens When You Eat Eggs Every Single Day?Couples Who Celebrated Their Union In A Unique, Unforgettable Way10 TV Characters Who Were Destined To Become IconicA Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This Day6 Ridiculous Health Myths That Are Actually True10 Phones That Can Work For Weeks Without Recharging10 Risky Jobs Some Women DoTop 7 Best Car Manufacturers Of All Time8 Superfoods For Growing Hair Back And Stimulating Its Growth5 Of The World’s Most Unique Theme Parks But Tebas is confident LaLiga would survive without Messi, claiming it has already gone from strength to strength after Cristiano Ronaldo’s shock move from Real Madrid to Juventus two years ago. He said: “I do not think that the arrival of Messi can solve the problems of Serie A, which are linked to the bad relationship between high debts and insufficient collections. “Serie A figures are stressed and these economic problems are certainly not solved by Messi. “I would like Messi to stay here but if he leaves it would not be a drama. Spanish football president Javier Tebas claims Lionel Messi’s potential Barcelona exit would not be a blow to LaLiga. LaLiga’s president claims Lionel Messi’s potential exit will not harm the league Inter Milan have been tipped to pull off an audacious move for the Argentine superstar by their former chief Massimo Moratti. Messi, 32, is currently at odds with the Barca board after cutting his wages by 70 per cent to help support non-playing staff during the coronavirus crisis. The six-time Ballon d’Or winner also had a public spat with director Eric Abidal in the wake of Ernesto Valverde’s sacking earlier this season. And with just over a year remaining on his contract, there is a feeling Messi could call time on his brilliant Catalan career. He is regarded as one of the best in history, having scored 627 goals in 718 games while winning ten LaLiga titles and four Champions Leagues. Read Also: Real Madrid star Toni Kroos questions footballer wage cuts “Maybe it never was even before all this [coronavirus] misfortune. “He is in the final stretch of his contract and, without doubt, it would take a tremendous effort to bring him here. “I don’t know if the current situation changes anything for better or for worse.” FacebookTwitterWhatsAppEmail分享 center_img “It was said that without Ronaldo, La Liga would have lost money. “But instead we have earned more, even in Portugal. “Players help but are not essential to a championship.” It now remains to be seen if Inter do move for Messi after they triggered his £132million release clause in 2006 when he was just 18 years old. Former Inter president Moratti said: “I don’t believe Messi is a forbidden dream at all. Loading… last_img read more