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Ask Me Anything !

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One of the peculiarities of the corporate scene is that those shareholders who do vote at the General Meetings of companies, tend to overwhelmingly support the recommendations of the directors. The result is that most resolutions get passed by more than 95% or higher.

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United Nations' Practical Guide to Active Ownership

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United Nations' Practical Guide to Active Ownership

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Discover the vast array of resources available to you! It's not as complicated as you may think.

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Join the Initiative to Drive the Banking Industry to Net-Zero Emissions!

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Join the Initiative to Drive the Banking Industry to Net-Zero Emissions!

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( Thurs day 15 th September) Global civil society organisations, including ShareAction, BankTrack and Reclaim Finance, have written to the UN Environment Programme Finance Initiative (UNEP-FI) and the Net Zero Banking Alliance (NZBA) steering committee, urging NZBA members to restrict their financing of fossil fuel projects, including coal, in order to align with the recently strengthened Race to Zero criteria.

The UN-backed Race to Zero campaign, of which the NZBA is a partner, updated its criteria for members in June. The seven net zero alliances under the Glasgow Financial Alliance for Net Zero (GFANZ) umbrella are required to meet the updated minimum criteria by June 2023.

The 16 NGOs are extremely concerned by reports that a UNEP-FI's spokesperson said it is unlikely that individual alliances will need to update their core commitments to meet Race to Zero's new rules. The NGOs warn that this undermines the credibility of UNEP-FI role as convenor of three of the GFANZ member alliances and its net zero commitment.

In its letter, the group asked the NZBA to urgently respond by outlining the timeline and process for updating its guidelines to maintain its accreditation, as well as the accountability mechanism that will ensure its members are aware of and will comply with their obligations. It urged the NZBA to go beyond the UN's minimum 'Starting Line' criteria by also playing a proactive leadership role, such as explaining how they will support climate-affected communities to ensure a fair transition.

Kelly Shields, Senior Campaign Officer at ShareAction said: "With 115 member banks representing almost 40 per cent of global banking assets, the NZBA has a key role to play in limiting global warming to a 1.5C world. It is vital that the alliance updates its guidelines in line with the strengthened Race to Zero criteria to ensure member banks act with the ambition needed to address the climate crisis."

The NZBA plans to review its guidelines by April 2024. The NGOs call for this to be brought forward so that members can adjust their policies in time for the June 2023 deadline.

Johan Frijns, Executive Director at BankTrack, said: "The new Race to Zero criteria leave no doubt that reaching net zero means ending our reliance on, and the financing of, fossil fuels as soon as possible, starting with coal. It is embarrassing, and ultimately fatal for the credibility of the NZBA if it does not now strengthen its membership criteria accordingly, right when the world is facing one climate disaster after another. Joining the alliance was always going to be about this: stop financing fossil fuels."

Paddy McCully, Senior Analyst at Reclaim Finance said: "The NZBA urgently needs to strengthen its guidelines and show that it is prepared to kick out any members which act in bad faith by refusing to adhere to these guidelines. The credibility of the NZBA, GFANZ and the financial sector's overall commitment to action on climate change will be badly damaged if its member banks are allowed to claim net zero alignment and then blithely continue to finance the same dirty activities they have in the past."

Notes to editors

For information or to request interviews, please contact the ShareAction press office at press@shareaction.org or +44 20 7183 4184

The letter can be found in full here, addressed to Eric Usher, Head of the UNEP-FI, due to the UNEP-FI's role as the convenor of the NZBA. The letter was sent to Eric Usher and the steering committee of the NZBA, which includes representatives from 12 member banks including HSBC, Morgan Stanley, Bank of America, Citi, and Standard Chartered, who are currently chair.

The full list of NGO co-signers is as follows:

AbibiNsroma Foundation, Ghana

AnsvarligFremtid, Denmark

Bank on our Future, UK & United States

BankTrack, The Netherlands

Climate Safe Lending Network, US

Environmental Defence, Canada

Fair Finance International

Global Witness, UK

Make My Money Matter, UK

Reclaim Finance, France

ReCommon, Italy

ShareAction, UK

Sierra Club, United States

Stand.earth, Canada and United States

Talanoa Institute, Brasil

350.org, Japan

Further detail around the Race to Zero 'Starting line' criteria and 'Leadership practices' can be found here.

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NGOs call on banks to raise bar for net zero delivery

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( Thurs day 15 th September) Global civil society organisations, including ShareAction, BankTrack and Reclaim Finance, have written to the UN Environment Programme Finance Initiative (UNEP-FI) and the Net Zero Banking Alliance (NZBA) steering committee, urging NZBA members to restrict their financing of fossil fuel projects, including coal, in order to align with the recently strengthened Race to Zero criteria.

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Banques : Les scénarios possibles pour la restructuration de Credit Suisse

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Le No 2 bancaire helvétique doit présenter le 27 octobre, son plan stratégique pour redresser une maison secouée par les scandales.

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Questions Raised Regarding Nestlé's Products?

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Questions Raised Regarding Nestlé's Products?

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Le siège de Nestlé à Vevey, en Suisse, affiche le logo de la multinationale (ci-dessus en novembre 2020). FABRICE COFFRINI / AFP

Dans un document interne, le numéro un mondial de l'agroalimentaire admet ne réaliser que 37 % de son chiffre d'affaires avec des produits atteignant le seuil de bonne qualité nutritionnelle.

Mauvais pour la santé. Une majorité des produits vendus par le numéro un mondial de l'alimentation ne sont pas "sains" et "certains de ses produits et gammes ne seront jamais 'bons pour la santé', en dépit des efforts pour les améliorer", admet Nestlé dans un document interne auquel a accédé le Financial Times.

"La présentation faite aux cadres dirigeants en début d'année indique que 37 % seulement des produits alimentaires et des boissons vendus par Nestlé, en chiffre d'affaires, hors aliments pour animaux et compléments nutritionnels, obtiennent une note supérieure à 3,5" sur l'échelle de qualité nutritionnelle australienne. Ce système proche du Nutri Score, qui sert de référence à des institutions internationales, classe les aliments sur une échelle de 0,5 à 5, précise le quotidien économique britannique. Nestlé estime que 3,5 équivaut au seuil de qualité nutritionnelle.

99 % des glaces et bonbons

Le géant de l'agroalimentaire reconnaît que "plus de 60 % de ses boissons et produits alimentaires vendus sous des marques grand public [Nescafé, Nestea, Maggi, Buitoni...] ne peuvent être qualifiés de 'sains selon des critères attestés' ". Dans le détail, 70 % des produits alimentaires n'ont pas atteint ce seuil, 96 % des boissons (à l'exception du café) et 99 % des glaces et confiseries. Relèvent le niveau l'eau et le lait, 82 % des eaux et 60 % des produits laitiers atteignant le seuil de 3,5.

La présentation indique :

Notre portefeuille est toujours sous-performant par rapport aux critères de santé dans un paysage où la pression réglementaire et les exigences des consommateurs grimpent en flèche."

Mark Schneider, PDG de la multinationale suisse, avait refusé, dans une interview accordée à Bloomberg en septembre, de se ranger du côté de ceux qui affirment que "les aliments transformés, y compris ceux qui sont produits par Nestlé et d'autres multinationales, ont tendance à ne pas être bons pour la santé", mais avait reconnu l'aspiration des consommateurs à une alimentation plus saine.

À propos du E obtenu par une San Pellegrino aromatisée à l'orange, la pire note de Nutri Score (elle contient plus de 7,1 g de sucre par 100 ml), le document de Nestlé s'interroge : "Une marque mettant en avant la santé devrait-elle recevoir un E ?"

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Agroalimentaire. La plupart des produits Nestlé sont mauvais pour la santé

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Dans un document interne, le numéro un mondial de l'agroalimentaire admet ne réaliser que 37 % de son chiffre d'affaires avec des produits atteignant le seuil de bonne qualité nutritionnelle. Mauvais pour la santé.

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BREAKING: Influence the Companies' Decisions

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BREAKING: Influence the Companies' Decisions

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Discover the latest news and events going on in your companies and influence those decisions now!

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Work is far from over and the the companies involved need to be held responsible!

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Increased Responsibility in Fracking Industries

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Increased Responsibility in Fracking Industries

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Decarbonization of the Automotive Industry by 2030

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Decarbonization of the Automotive Industry by 2030

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Bonuses in Encouraging Sustainable Development Objectives?

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Bonuses in Encouraging Sustainable Development Objectives?

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Annual Concerns: Shape the Future of Companies

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Annual Concerns: Shape the Future of Companies

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You have no time but have an opinion? Make it visible ! Vote for the theme you want us to discuss for you. Your voice shall be heard!