Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-07-07-Speech-2-651-000"
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"en.20150707.38.2-651-000"2
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"Mr President, like other colleagues, I welcome the provisions for country-by-country reporting in the directive with the objective of tax justice for our world, but as Parliament’s rapporteur on corporate social responsibility, I welcome the recognition in this directive that business responsibility is an issue of corporate governance too.
The move towards long-termism is an essential response to the financial crisis but is essential for sustainability too. The Commission produced a communication saying it was in favour of long-term investment, and I strongly support the directive incentivising long—termism, as it chimes with the global move being led by the United Nations Environment Programme Finance Initiative, the UN Principles for Responsible Investment and the UN Global Compact.
I support the right of shareholders to vote on remuneration policy and to be informed by their stakeholders too. If Alcoa, ING National Grid and Shell can reward their executives based not just on profitability but also on sustainability, so can other companies.
Transparency throughout the investment chain, including for fund and asset managers and financial analysts, is important. I regret the fact that the UK Government calls the provisions in this directive overly prescriptive. The aspects for institutional investors to engage with companies on social, environmental and human rights issues are important and are an important part of ensuring that the new EU law on non-financial reporting is actually used."@en1
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