Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-07-07-Speech-2-652-000"
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"en.20150707.38.2-652-000"2
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"Mr President, I support improving shareholder engagement and increasing transparency. But I feel that this report has moved too far away from those aims, instead placing unnecessary burdens on business. Articles 3f, 3g and 3h risk revealing business-sensitive information with no obvious benefit to the public, and I ask: why should an asset manager be responsible for reducing his or her investees’ social and environmental risks?
I am pleased that recent negotiations have reverted back to the Commission’s initial ‘comply or explain’ approach, and I disagree with the obligation for Member States to introduce additional measures to support long-term shareholding. Surely shareholders should have rights which relate to their amount of capital investment rather than how long they have owned the shares.
Finally, the inclusion of a far-reaching country-by-country reporting requirement for large and listed companies in every EU country is unacceptable. This has nothing to do with shareholder rights, and it is inappropriate for those on the left of this House to attempt to include this issue in multiple files. Instead we should promote the work that the G20 and the OECD have already done at an international level."@en1
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