Robbins Geller Rudman & Dowd LLP
Climate Impact & Sustainability Data (2013)
Reporting Period: 2013
Environmental Metrics
ESG Focus Areas
- Corporate Governance
- Board Diversity
- Sustainability Metrics in Executive Pay
- Responsible Investment
Social Achievements
- Secured $85 million settlement in a securities class action against The Blackstone Group L.P. for failing to disclose adverse trends and uncertainties.
Governance Achievements
- Successfully litigated cases highlighting the importance of accurate financial disclosures and corporate governance practices.
Climate Goals & Targets
Environmental Challenges
- Slow pace of board diversification, particularly in North America and Japan.
- Lack of incorporation of ESG issues of greatest importance to investors into executive pay plans.
- Low impact of sustainability metrics on executive payouts.
Mitigation Strategies
- Advocating for greater use of sustainability metrics in executive pay and focusing those metrics on issues most material to the firm.
- Supporting initiatives like the Diverse Director Datasource to assist companies in locating well-qualified women and members of minority groups.
- Pressing companies to ensure that nominating committees consider women and minorities as part of any director search.