Ep 3: Helen Wiggs from ShareAction on shareholder coalitions

By working together, shareholders can have a much bigger impact on the way businesses are run than they would do on their own. Just because a fund manager is small, that doesn’t mean they can’t make a difference. GSI likes to work in coalition with other other like-minded organisations.. And one of those is ShareAction, a charity that promotes responsible investing and works to improve corporate behaviour on environmental, social and governance issues. In this episode, Robin Powell interviews Helen Wiggs, ShareAction’s Head of Corporate Climate about the valuable work her organisation is doing. +++ Here are the relevant time codes in case there's a specific issue you would like to hear Helen Wiggs’ views on: 1.25 Tell me about ShareAction and how it has developed. 2.25 You say you started on S, but you've moved more over to E as the years have gone by, is that right? 2.45 Is it time to focus attention, not exclusively, but primarily on climate change? 3.25 What is ShareAction's purpose as an organisation? 3.50 Are you genuinely are making a difference? 4.20 I've seen ShareAction describe itself as a critical friend. What do you mean by that? 5.14 What is your own background and how did you come to end up at ShareAction? 6.33 How seriously do you think the City of London takes ESG and climate risk? 7.54 What is ShareAction’s Investor Decarbonisation Initiative? How does it work? 10.10 How important are collaborative coalitions to ShareAction’s work? 11.08 Do you think ESG has made investing a more collaborative environment? 12.31 Can investors be a catalyst for change? 13.40 Tell me a little more about engagement with company boards. What are the different levels of engagement? 15.12 Are companies more responsive to what you’re trying to do? Are they taking more responsibility? 16.38 Do organisations like ShareAction still have a role to play, even as more companies incorporate sustainability into their internal operation? 17.50 Shareholder resolutions are an important part of what you do. How do they work, and how effective are they? 19.06 Could you give a real-world example of shareholder resolutions making a positive difference? 20.10 What has ShareAction been doing within the chemicals sector? 21.28 Is there ever a place for divestment, or is shareholder activism always a better way to go? 23.34 What drives fund managers to be active shareholders? 24.37 One could ask: why are small players like GSI, for example, even thinking about this issue when, compared to the big fund management firms, they have very little influence. What do you say to that? 26.58 Are Vanguard any better or worse than the other big fund managers when it comes to shareholder activism? 28.35 What does “good” look like, from a shareholder activism standpoint? 30.22 How optimistic are you about the role that investors and the industry can play to tackle climate change? Will it make a difference, or is it ultimately out of their hands? 32.10 Do you feel that, just when we need to be focused on the climate, our attentions are being forced elsewhere? For example, towards the crisis in Ukraine and the ongoing inflation issue? +++ Music used: Inspired by Kevin MacLeod Link: https://incompetech.filmmusic.io/song/3918-inspired License: https://filmmusic.io/standard-license