Sustainability reporting standards must be harmonised as soon as possible and made mandatory for European listed companies. Eumedion wants this project to become part of an updated action plan to further broaden and deepen the European Capital Market Union. This is one of the messages in Eumedion's response to the consultation of the 'Next CMU High-Level Group on the future of the European Capital Market Union. The response was submitted today.
2019 Dutch AGM season: large number of board proposals rejected by shareholders or withdrawn ahead of shareholders meeting
Shareholders of Dutch listed companies are increasingly voting against board proposals. In particular poorly substantiated proposals for exorbitant executive pay packages and proposals that would lead to a "carte blanche" for the board to issue new shares led to shareholder rebellion. This is one of the main findings in today’s released Eumedion analysis of the 2019 AGM season.
An external, 'peer' group of companies should no longer be leading for the level and structure of executive remuneration. Supervisory boards must attach equal importance to the pay ratios within the company, the identity, the purpose and the values of the company and the expectations of the relevant stakeholders, including shareholders, employees, customers and the wider society. Eumedion has embedded this principle in the today's updated principles for a responsible executive remuneration policy of Dutch listed companiess.
Eumedion: reporting standards on climate risks should be incorporated in the EU Accounting Directive
Eumedion believes that the proposal to adopt the reporting standards on climate risks in the non-binding guidelines on non-financial reporting is not effective and is a proponent of incorporating those standards in the EU Accounting directive. This follows from today's Eumedion’s response to the call for feedback on the recently published report of the technical expert group on sustainable finance (TEG) on climate-related disclosures.