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Authors

  • Aoifinn Devitt
    What is on the horizon for financial markets as we enter a new decade?
  • 28/03/2019
    EOS
    Bruce Duguid
    Investors can play a powerful role in tackling global challenges such as climate change or human rights issues by engaging with companies. But how can we ensure our efforts have the maximum impact?
  • Nicholas Spooner
    Just over one year on from the launch of Climate Action 100+ at the One Planet Summit in Paris, what have investors achieved?
  • Bruce Duguid
    BP is one of the world’s six oil and gas ‘supermajors’, operating in 72 countries. It is a vertically integrated business operating across exploration and production; refining; distribution and marketing; petrochemicals; power generation; and trading. It is also active in the area of renewable energy in particular biofuels production, wind farms and a new solar joint venture, as well as early stage investments in advanced mobility; bio-products; energy storage; and carbon capture and storage.
  • Bruce Duguid
    United Utilities is the second largest of 10 water and waste service companies in the UK, serving a population of approximately seven million people in the North West of England.
  • Bruce Duguid
    United Utilities is the second largest of 10 water and waste service companies in the UK, serving a population of approximately seven million people in the North West of England.
  • Bruce Duguid
    National Grid is one of the world’s largest publicly listed utilities. It focuses on the transmission and distribution of electricity and gas in the UK and the US.
  • Bruce Duguid
    National Grid is one of the world’s largest publicly listed utilities. It focuses on the transmission and distribution of electricity and gas in the UK and the US. Background The company is committed to building a long-term sustainable business. In recognition of the risks to its business from climate change, it has set ambitious greenhouse gas reduction targets to reduce its emissions by 45% by 2020 and by 80% by 2050, compared to levels in 1990. However, two major storms in the US in October 2012 and February 2013, as well as a number of smaller storms, had a material effect on its results, reducing its operating profit by £136 million (€155 million/$183 million) in the reporting year 2012/13. In addition, between 2009/10 and 2011/12, its lost time injury frequency rate rose from 0.15 to 0.18, with three fatalities occurring in 2011/12.
  • Bruce Duguid
    GlaxoSmithKline (GSK) is a global healthcare business, with pharmaceutical, vaccines and consumer healthcare divisions. It employs over 100,000 employees and had a combined turnover of £27.9 billion (€31.8 billion/$37.7 billion) in 2016.
  • 13/09/2017
    Stewardship
    Bruce Duguid
    Despite almost $500bn in reported opportunities from climate change NEW YORK; Sept. 13, 2017 – Four in 10 telecommunications and consumer goods companies reporting to CDP fail to capture or report any financial value from strong environmental performance, according to new research released today by Accenture (NYSE: ACN), CDP and Hermes Investment Management. The largest emitters in the global economy, responsible for 50 percent of carbon emissions that was reported to CDP, account for a cumulative $447bn opportunity from climate change. Yet 42 percent of these companies have not yet quantified the potential value. “We see this as a huge missed opportunity for companies. Reporting on financial value through environmental performance allows businesses to build investor trust, provide meaningful transparency and help ensure long-term profitability,” said Justin Keeble, Managing Director, Accenture Strategy. “Through this partnership with CDP and Hermes, we’re bringing Accenture Strategy’s industry-leading insights to help companies focus on sustainability as a means for value creation.”
  • 09/06/2017
    Stewardship
    Bruce Duguid
    The US’s withdrawal from the Paris Agreement has once again brought climate change, and by implication its associated economic risks, to the fore. Investors, businesses and governments are no longer able to turn a blind eye to carbon risks in the pursuit of fast profits, but can a low-carbon solution that suits all parties be found? The risks posed by climate change are many. Besides the well-publicised environmental impact – rising sea levels, melting ice caps and the destruction of habitats – businesses will also feel the effects. For example, Russia’s estimated losses from a 2010 heat wave and drought stand at $15bn, mainly from the destruction of crops. This contributed to global price increases and export restrictions on wheat. Meanwhile, insured losses from a 2011 flood in Thailand were similarly valued at $15-20bn and the disrupted supply of hard disk drives, of which Thailand produces 40% of the global total, led to price increases worldwide for both the drives and the products dependent on them (PWC, 2013)[footnote]“Business-not-as-usual: Tackling the impact of climate change on supply chain risk,” by Richard Gledhill et al. Published by PwC in Resilience: A journal of strategy and risk in 2013. [/footnote]. Clearly the effects of climate change on the global supply chain are already being felt, but can the problem be fixed?
  • 11/04/2017
    Stewardship
    Bruce Duguid
    • Hermes intends to vote against Chairman due to lack of diversity progress • Joins investor group in calling for further disclosure on climate risks Ahead of the Rio Tinto AGM tomorrow, Bruce Duguid, Stewardship Director within the Hermes EOS team at Hermes Investment Management, highlights two areas of focus in our engagement with the company. Environmental risk reporting The 2017 AGM season marks the first year of new climate change risk reporting requirements for mining companies Anglo American, Glencore and Rio Tinto. This follows the passing of resolutions last year, with the support of more than 95% of shareholders, requesting further disclosure of carbon-risk reporting and the company’s actions to manage them.