/ Glass Lewis launches custom proxy voting policy incorporating EIRIS’ analysis of environmental and social issues
Press Releases - 14/11/2013
Glass Lewis launches custom proxy voting policy incorporating EIRIS’ analysis of environmental and social issues
EIRIS, a leading global provider of environmental, social and governance (ESG) research and Glass, Lewis & Co., the leading independent provider of corporate governance services, today announced the launch of a proxy voting service enabling institutional investors to incorporate accountability for environmental and social performance into their voting for company directors.
The service, initially based upon 1,500 leading global companies, will combine EIRIS’ long-standing expertise in assessing corporate performance on environmental and social issues with Glass Lewis’ detailed knowledge of the responsibilities of individual directors and board committees. Specifically, the service will allow Glass Lewis’ proxy voting clients the option of directly linking their voting in director elections to reflect dissatisfaction with inadequate ESG reporting practices at a company.
“We are delighted to be able to offer information over the Glass Lewis platform,” said Peter Webster, EIRIS CEO. “How a company tackles environmental and social issues is increasingly becoming an important element is assessing whether a board is fulfilling its responsibilities to look after long-term interests of shareholders. When the time comes to re-elect directors, shareholders will want to know whether the company has fallen behind on material environmental and social issues.”
Clients using the service will receive supporting analysis from EIRIS as summary notes integrated within the Glass Lewis platform. And while the service offers a standardised approach based on the contextual analysis provided by EIRIS and Glass Lewis, it is also flexible enough to accommodate a client’s individual ESG goals and philosophies and offers myriad policy and workflow options.
“Investors are increasingly looking to broaden the scope of their assessment of boards and companies to include more environmental and social factors,” said Katherine Rabin, CEO of Glass Lewis. “We think investors with a long-term perspective will find this a useful enhancement to the wide range of tools and services we already offer in the governance arena.”
EIRIS is a leading global provider of independent research into the environmental, social, governance (ESG) and ethical performance of companies. Wholly owned by the EIRIS Foundation, EIRIS is a social enterprise, working to help our clients develop the market in ways that benefit investors, asset managers and the wider world. Our mission is to empower responsible investors with independent assessments of companies and advice on integrating them with investment decisions. EIRIS now provides responsible investment services to over 200 clients including asset owners, asset managers, banks, stock brokers and governments around the world – as well as major index providers. We have 30 years’ experience of promoting responsible investment and helping consumers, charities and advisers invest responsibly. In September 2013, EIRIS launched the EIRIS Global Platform, an innovative and intuitive research platform for sustainability data. EIRIS has offices in London, Paris, Boston and Washington, D.C., as well as a representative based in Gothenburg. In addition to overseas offices, EIRIS has a global network of partners in Australia, Germany, Israel, Mexico, South Africa, South Korea and Spain to further extend our research coverage and keep us abreast of responsible investment issues at the local level.
About Glass Lewis
Glass, Lewis & Co. is a leading investment research and global proxy advisory and voting services firm, serving institutions that collectively manage more than $15 trillion. Glass Lewis helps institutional investors make more informed proxy voting decisions by identifying business, legal, governance and financial statement risk at more than 23,000 meetings worldwide. Founded in 2003, Glass Lewis is headquartered in San Francisco with offices in New York, Washington D.C., Ireland and Australia. For more information on Glass Lewis, visit glasslewis.com.