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Dear Fellow Supporters of Integrated Reporting,

This e-mail concerns a significant announcement by CalPERS about their new five-year ESG strategic plan, the  appointment of a new CEO for the International Integrated Reporting Council, the latest issue of the Journal of Applied Corporate Finance, a “Call for Papers” from that same journal for next year, the recently published “SASB Investor Engagement Guide,” and two short pieces, one I wrote and one an interview I did.

CalPERS
 
On August 15, 2016 CalPERS announced a six -point plan that is the next evolution of CalPERS' work on sustainable investing and the Global Governance program. From the press release:
"The California Public Employees' Retirement System (CalPERS) Board of Administration today adopted the Environmental, Social, and Governance (ESG) 5-Year Strategic Plan, a six -point plan that is the next evolution of CalPERS' work on sustainable investing and the Global Governance program.

The plan identifies six strategic initiatives that will direct staff’s work. The initiatives are data and corporate reporting standards; UN PRI Montreal Pledge company engagement; diversity and inclusion; manager expectations; sustainable investment research; and private equity fee and profit sharing transparency. These initiatives are cross-cutting issues which will have impacts on risk and return. Each initiative has specific objectives, key performance indicators, and a timeline.
 
The comprehensive plan is a result of more than a year’s worth of review by staff and the CalPERS Investment Committee. During this time, staff presented a thorough review of each channel- environmental, social, and governance. Staff also reported on how each channel could use the approach of integration, engagement, advocacy, and partnerships to move the strategy forward."
IIRC Announcement

Today the International Integrated Reporting Council (IIRC) announced that its board of directors has appointed Richard Howitt, Member of the European Parliament (MEP), as its next Chief Executive Officer (CEO).  Mr. Howitt will succeed outgoing CEO Paul Druckman on November 1, 2016 and will step down as an MEP to coincide with his appointment. Paul is one of the great leaders of the integrated reporting movement. He has put the IIRC in a strong position for his successor to continue to drive the adoption of integrated reporting around the world. We all owe Paul our deepest thanks for everything he has done and I wish him the best in his future endeavors.
 
Journal of Applied Corporate Finance
 
Every Spring the Journal of Applied Corporate Finance (JACF) devotes a Special  Issue to sustainability. This year’s theme is “Sustainability and Shareholder Value.” In his blog Don Chew, the Editor of the JACF, provides an overview of the themes in this Special Issue. My thanks to Don and to Carl Ferenbach and Chris Pinney of the High Meadows Institute for letting me make this available to all of you.

 


Call for Papers

 
Please see this “ Call for Papers ” if you are interested in submitting an article for the Spring 2017 Special Issue. Papers should be submitted by February 28, 2017.
SASB Investor Engagement Guide
 
On July 19 SASB issued the “SASB Engagement Guide for Asset Owners & Asset Managers,” which provides industry-by-industry guidance on how asset owners and asset managers can use the SASB standards to inform and enhance their engagement with companies. For every industry, the Guide poses questions investors can ask to facilitate a more complete and robust assessment of long-term risks and value creation. The Guide includes a foreword by Michelle Edkins, Global Head of Investment Stewardship at BlackRock.
 
Two Short Pieces


 
The first is an article I wrote with Tim Youmans called “Materiality and The Role of the Board” which appeared in the ICGN Yearbook 2016.
 

 


The second is an interview “In conversation: insights into integrated reporting” that I did with Christine Chow, Associate Director, Hermes EOS, Hermes Investment Management. It was published in CSj Viewpoint in Hong Kong.
 


 
Kind regards,

Bob






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Arabesque Partners · Arabesque Partners · 68 Brook Street · London, Greater London W1K 5DZ · United Kingdom