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ShareAction: transforming the investment
system to serve savers,
society, and the environment.

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ShareAction has criticised a review into legacy workplace pension schemes, conducted by the ABI and its members and overseen by an Independent Project Board, for being conflicted and ineffective. The charity has also expressed concerns over the secretive way the probe has been conducted so far.


ShareAction has published an investor briefing to accompany a report from the Carbon Tracker Initiative, “Carbon supply cost curves: Evaluating financial risk to oil capital expenditures” which argues that if oil companies are to create optimum value for shareholders they need to focus on lower cost, lower risk projects which give better returns. This briefing highlights some of the main findings from that report and suggests questions pension funds may wish to ask their fund managers to check that they are alert to these issues and engaging with oil companies to ensure the creation of optimum shareholder value.


ShareAction today launches a Manifesto for Responsible Investment, calling for legal change to ensure that the UK’s private pension providers are accountable and transparent to the millions of savers whose retirement assets they manage.


ShareAction welcomes the Law Commission’s confirmation of our long-held view that investors are not obliged to focus solely on short term financial return when making investment decisions.


The report helpfully states that fiduciaries are free to consider all factors which affect the financial performance of a fund, such as ESG and macroeconomic issues. We also welcome the report’s assertion that non-financial factors, such as beneficiary views and quality of life, may also be taken into account so long as this does not result in significant financial detriment.


Tesco will face questions over its refusal to pay staff a Living Wage at its AGM tomorrow (June 27). A ShareAction petition, which already has over 31,000 signatures, will be delivered by Amy Bradley, a former Tesco employee as the UK’s largest private sector employee is asked to ‘pay fair’ and commit to ensuring all staff, including cleaning contractors, enjoy the dignity of a Living Wage.


ShareAction, working closely with Citizens UK who lead the Living Wage campaign in the UK, has previously asked Tesco to put its ‘Every Little Helps’ slogan into practice when it comes to ensuring no full-time staff are forced to live below the poverty line.


ShareAction has launched an online petition calling on Hargreaves Lansdown to backtrack on its new policy of making customers pay to vote at company AGMs.


The private broking website has recently started charging fees of £10 plus VAT to customers who wish to attend the Annual General Meetings of companies they own. The fees also extend to making customers pay to vote.