by Checking the stock markets in Zurich’s Bahnhofstrasse Keystone Shareholders in Switzerland want a rethink on how managers are paid and demand that priorities regarding corporate governance, sustainability and corporate social responsibility (CSR) be redefined, a survey has found. “Investors consider compensation systems not to be sufficiently aligned with social and environmental priorities and judge adjustments to bonus payments due to Covid-19 highly controversial,” according to a corporate governance study by Zurich-based consultants SWIPRA, published on Tuesday. Two-thirds of Swiss shareholders feel that environmental or social goals, such as equal pay, are currently given too little consideration in the assessment of managers’ salaries, it said. Nearly half
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swiss Info, Featured, Latest News, newsletter
This could be interesting, too:
Vibhu Vikramaditya writes Navigating the Slippery Slope: How Hoover’s Interventions Paved the Way for the Great Depression
Ryan McMaken writes Frédéric Bastiat Was a Radical Opponent of War and Militarism
Douglas French writes Millennials: In Costco We Trust
Vasil Georgiev writes Luftfahrtindustrie: Rückblick auf 2023 und Prognose für 2024
Checking the stock markets in Zurich’s Bahnhofstrasse Keystone
Shareholders in Switzerland want a rethink on how managers are paid and demand that priorities regarding corporate governance, sustainability and corporate social responsibility (CSR) be redefined, a survey has found.
“Investors consider compensation systems not to be sufficiently aligned with social and environmental priorities and judge adjustments to bonus payments due to Covid-19 highly controversial,” according to a corporate governance study by Zurich-based consultants SWIPRA, published on Tuesday.
Two-thirds of Swiss shareholders feel that environmental or social goals, such as equal pay, are currently given too little consideration in the assessment of managers’ salaries, it said. Nearly half of them also say that financial goals continue to be given too much weight in existing remuneration systems.
They were also asked whether the original targets for bonuses for 2020 should be kept, given the Covid-19 crisis. Some 44% of non-Swiss shareholders think the original targets should be maintained; only 17% of Swiss shareholders share this view.
Effects of Covid
The real effects of the coronavirus pandemic on corporate strategies have so far been limited, however.
The majority of the companies (60%) see little or no influence. That said, 51% of the companies believe that liquidity and capital management are becoming more important and 27% said the pandemic was strengthening the integration of CSR into corporate strategy.
SWIPRA Corporate Governance Survey
In collaboration with a team of researchers from the Institute of Banking and Finance at the University of Zurich, all companies listed on the Swiss Performance Index SPI as well as institutional investors from Switzerland and abroad were invited to participate in the eighth SWIPRA survey on corporate governance in Switzerland.
During the survey period (August/ September 2020), 73 Swiss companies listed on the SIX Swiss Exchange, representing about 77.2% of the market capitalisation of the SPI, and 76 institutional asset managers and asset owners from Switzerland and abroad participated. The participating investors, around 40% of them based abroad, represent at least 27.2% of the equity investments managed worldwide and hold substantial stakes in Swiss companies.
(SWIPRA)
On November 29, Swiss voters will decide on a proposal to impose due diligence rules on Swiss-based firms active abroad. It stands a good chance of passing, according to a recent poll.
You Might Also Like
Swiss government extends coronavirus economic support
The Federal Council is extending short-term unemployment benefits by another six months and plans to help cushion financial losses faced by public transport. On Wednesday, the government announced that it is extending the maximum period for receiving partial unemployment support from 12 to 18 months to counteract a rise in unemployment.
Swiss Solidarity raises CHF40 million for most vulnerable affected by Covid-19
The humanitarian charity Swiss Solidarity is helping over 100 groups to provide emergency assistance to the elderly, the homeless and other vulnerable people who have been struggling in Switzerland during the coronavirus pandemic.
Report alleges targeting of Swiss-based Catalan separatist’s phone
The telephone of Anna Gabriel, a leading figure of the separatist movement in Catalonia who has sought refuge in Geneva, has been reportedly targeted by a “possible case of domestic political espionage”, according to a news investigation.
Shoppers in Basel must wear face masks to reduce Covid-19 risks
Basel City has become the first German-speaking canton to require customers to wear face masks in shops to combat the spread of the coronavirus.
Rights activists want Swiss-Chinese trade deal to be overhauled
Campaigners are urging the Swiss government to renegotiate a six-year-old free trade agreement with China to try to improve human rights and labour conditions for its Uighur Muslim minority.
Valcambi refinery denies sourcing ‘dirty’ gold from Dubai
The Swiss-based Valcambi refinery has rejected accusations about gold dealings with a controversial company in the United Arab Emirates.
Hackers steal wages from Swiss universities
Unidentified cybercriminals have managed to siphon off employee salary transfers from at least three Swiss universities, including the University of Basel.
Swiss return frozen CHF36 million to South American football federation
Swiss authorities have returned about CHF36.6 million ($40 million) in funds frozen in Swiss bank accounts amid football corruption investigations into the South American football confederation CONMEBOL.
Tags: Featured,Latest news,newsletter