Noemi Distefano
-
This summer’s reading list got longer with the EU dropping CSRD guidance
European Commission white paper aims to provide more clarity to companies If you are heading off to or on your summer vacation and in search of the next thrilling read, look no further than the European Commission’s (EC) latest release: the FAQs on CSRD. That’s right, the commission picked the popular vacation month of August to drop a 52-page document including 90 questions and answers that aim to resolve any doubts you may have about CSRD and the related European Sustainability Reporting Standards (ESRS). The Q&A appeared online at a time when, even if you are not on vacation, you…
-
‘This is not about politics’: GIX co-founder on launching the first US green exchange
Daniel Labovitz talks about the genesis of the exchange and answers ESG-skeptic questions It’s been nearly three months since the Green Impact Exchange (GIX) filed an application with the SEC for approval of what is going to be the first green economy stock exchange in the US. On July 17, the US regulator published its notice to solicit comments from the investment community, which has until September 6 to submit its feedback. As an exchange focused on dual listings rather than primary listings at the moment, GIX was founded two and half years ago by a group of Wall Street…
-
CSRD readiness soars midway through first reporting year
More than nine in 10 companies ready to meet regulation requirements, research finds The four letters of the EU’s Corporate Sustainability Reporting Directive (CSRD) acronym have been almost as much a buzzword in 2024 as AI. Members of the European investment community and those who work for non-EU listed companies that have activities in the bloc face a new ‘burden of compliance’: CSRD came into force in 2023 and has applied since the start of this year. But if in 2023 many independent surveys found that at least six in 10 companies didn’t feel ready for CSRD, the same question…
-
Record-breaking shareholder proposals in 2024 focus on ESG and anti-ESG matters
First proposals for biodiversity and AI recorded this year, says Georgeson Corporate boardrooms – along with the rest of the world – are waking up to the fact that AI has the potential to reshape industries at breakneck speed. Its impact on how boards operate and how companies handle governance is only just beginning to be realized. A recent Governance Intelligence Webinar, sponsored by Nasdaq and titled ‘How AI will influence the future of the boardroom’, brought together a panel of industry experts to discuss AI’s transformative potential in governance. Moderated by Ben Maiden, editor-at-large of Governance Intelligence, the panel…
-
The ‘teenage years’ of ESG: Experts discuss shifting perceptions at ESG Integration Forum – Summer
Buy-siders and corporates offer views on evolution of ESG landscape and what it means for business Governance, sustainability and leading IR professionals, gathered at the IR Magazine ESG Integration Forum – Summer in New York last week to share their views and expertise on ESG issues facing US companies and their investors today. One of the sessions considered how attitudes around ESG are changing, the reasons behind the change and what it means for publicly listed companies. Steven Wade, head of content at IR Magazine, was joined by Cara Mia Manzella, manager of ESG program at Ominicell, Shanu Mathew, senior…
-
Cracking the code: Winning retail investor approval in M&A
Expert strategies for securing retail investor votes Almost a quarter of votes at Caterpillar’s AGM were in favor of a proposal seeking information about the company’s lobbying. The resolution garnered 23 percent of the votes cast. That level of support, despite not being a majority and being lower than the 29 percent of the vote it received at Caterpillar’s 2023 AGM, is widely viewed as significant by governance experts. Other lobbying disclosure proposals have this year gained significant support at Morgan Stanley (31.2 percent of votes cast), Verizon Communications (34.6 percent) and Goldman Sachs (39.4 percent). Shareholders have been voting…
-
Engagement on ESG issues key to managing downside risk, experts say
Engagement on governance issues higher but has lower impact on downside risk than environmental or social issue engagement Companies engaging in ESG-related conversations can mitigate and reduce theirdownside risks, according to astudy published in the Review of Financeby the Oxford University Press. The argument, framed within a context of the increasing recognition of the importance of ESG factors in investment decision-making, highlights that engagement on ESG issues can yield tangible benefits for investors by lowering afirm’sdownside risks. It states:‘Institutional investor engagement on ESG issues has become increasingly prevalent in financial markets. A primary goal of these engagements is to engender…
-
CSRD & ESRS compliance: Challenges, strategies – and the global impact on companies
New EU regulation ‘may become a de facto global ESG reporting standard’ Applied since only January this year, the EU’s Corporate Sustainability Reporting Directive (CSRD) has already emerged as a global, transformative force in the ESG regulatory context. Replacing the Non-Financial Reporting Directive, CSRD came into force in January 2023 and has applied since the start of this year. Alongside CSRD, the European Financial Reporting Advisory Group (EFRAG) developed the European Sustainability Reporting Standards (ESRS) as a roadmap for CSRD compliance by generating information that helps investors understand the sustainability impact of the companies in which they invest. This must…
-
Europe sees fewer say-on-climate plans put to vote
France, Spain and UK lead on climate plan proposals, while Portugal sees first company put climate strategy to its shareholder base Baker Hughes has promoted Georgia Magno to become chief legal officer. Magno was previously vice president and general counsel for Baker Hughes’ industrial and energy technology business. She joined the company in 2010, initially as general counsel for its global supply chain. She went on to hold legal roles in various commercial, operational and product line organizations with Baker Hughes countries, including Italy and the US. In her new role, Magno is responsible for the energy technology company’s legal…