Bank chaos, Larry Fink's stance on climate change, and important dates coming up...
Tulipshare
Helping investors push for stronger environmental and social commitments by using corporate governance to create impact
Bank disruption is still the main topic of the week
The internet is awash with analysis on SVB and now Credit Suisse, so we won’t add our two cents, but for shareholder activists this can serve as a good lesson in why governance is so important. Premium FT subscribers can read Moral Money’s take on why the ‘G’ in ESG matters:?
BlackRock’s Larry Fink has said that it’s up to consumers and governments to fight climate change, not investors
In the letter he stated that, “it is for governments to make policy and enact legislation, and not for companies, including asset managers, to be the environmental police.” He does, however, still view climate risk as an investment risk and continues to take his fiduciary duty to supply investors with comprehensive information - including climate data - extremely seriously.?
Meanwhile Patagonia questions the fine line between the climate crisis and profit…
An interesting read from a company who’s just given the majority of their profits to fight climate change.?
Which is a good time to mention that Tulipshare will be hosting an in-person panel discussion on sustainability and profit at The Conduit next month
The fintech company will bring together a panel of industry experts to discuss whether sustainability can be profitable for both individuals and businesses. Want to join us in London??
Apple faces ‘scant’ shareholder dissent at AGM
Apple investors rejected all shareholder proposals, re-elected the board, and approved the company’s compensation plan at their recent AGM. This comes, however, after successfully reaching a settlement with shareholders around their App Store takedown policy, prompting shareholders to withdraw the related proposal from the ballot prior to the AGM.?
Upcoming record dates to note…
Buying shares before the company’s ‘record date’ gives you the best chance at being able to vote at their AGM. While we don’t know the exact record dates until the company releases their proxy statement, we can usually estimate them based on last year’s dates. The next estimated record dates coming up for our campaigns are: Tesla, AT&T, Halliburton, and Chubb.?
Please remember that if you decide to invest, capital is at risk - meaning the value of your investments can go up as well as down.