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Opalesque Exclusive: CalPERS expands environmental, diversity corporate governance guidelines
The CalPERS Board today signaled the importance of environmental disclosure and diversity of corporate boards by expanding corporate governance guidelines for portfolio companies.
The new guidelines will be added to the System’s Global Principles of Accountable Corporate Governance. These principles are used by CalPERS to vote proxies, engage management and boards of equity companies, and implement initiatives.
"Today we are making these important additions to our corporate governance program. Corporate governance is about aligning companies and investors to generate sustained, long-term share value," said Rob Feckner, CalPERS Board President. "Achieving sustained performance must include company actions to respond to environmental risks. Companies also should ensure that they have the best mix of directors possible, maximizing diversity of backgrounds, perspectives and skills."... Full press release: Source
Carbon market exchanges ripe for consolidation
From Reuters: A cut-throat battle is emerging to dominate trade in permits to emit greenhouse gases, which could grow to rival the $3-trillion oil trade, with dominant exchanges eventually expected in Europe, the U.S. and Asia….
London will remain the world's carbon trading capital in 2012, when the Kyoto Protocol's first commitm...................... To view our full article Click here
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