History
In the 1990s a campaign called 'Ethics for USS' led by the student network People & Planet aimed to make the Universities Superannuation Scheme listen to members’ concerns about the scheme’s investments. As a result, USS became the first pension fund to formally adopt a socially responsible and sustainable investment policy. This led to the establishment of a national organisation to champion Responsible Investment. FairPensions – the charity’s first operational name – was born. Early campaigns included ‘Patents v Patients’ in 2007, a campaign to stop pharmaceutical company Novartis' legal challenge against India's patent law to develop generic drugs. ShareAction worked with Oxfam to mobilise savers and institutional investors to put pressure on the company, highlighting the reputational risk of pursuing the claim. In August 2007 Novartis dropped its appeal, ensuring a key supply of low-cost drugs to the developing world was protected. In 2006 ShareAction published its first survey of pension schemes, examining the existence and transparency of investment policies on environmental, social and governance issues. The charity has since published many surveys ranking both pension funds and asset managers on such issues. In 2010 ShareAction co-ordinated shareholder resolutions at BP and Shell, asking them to publish details of the risks associated with their controversial tar sands project in Canada. Over 6000 supporters emailed their pension funds asking them to support the resolutions; consequently, an unprecedented number of shareholders went against the companies’ recommendations to vote against the resolutions, sparking conversations between investors, companies and savers. The campaign was a turning point in the use of ‘pension power’ to effect change. Campaigns ShareAction uses the power of the investment system to campaign
against company practices which are environmentally or socially damaging or which represent poor governance practice, and to promote responsible investment through the investment chain.
The charity engages with investors and companies to promote the value and business sense of investing responsibly, as well as encouraging individual supporters to take action.
Shareholder activism
ShareAction trains and supports individual and organisations to use shareholder activism as a way to engage with major companies. It also collaborates with institutional investors to leverage shareholder influence. ShareAction'Policy & research
ShareAction engages with policy-makers and the investment industry to promote responsible investment and transparency to the savers whose money underpins the investment system. The aim is to encourage a policy framework that makes the investment system more democratic and accountable, and ensures all risks and opportunities, including those relating to environmental, social and governance factors are properly considered by institutional investors. ShareAction regularly publishes research on issues relating to responsible investment. This includes reports which provide independent analysis and help shape public policy debate. In July 2015, ShareAction published a report outlining its vision for UK workplace pensions which called for less regulation and better member representation. The charity also undertakes industry surveys which examine and rank the responsible investment performance of the UK’s largest pension funds and fund managers. These surveys provide independent analysis and have become respected industry benchmarks. ShareAction’s latest survey examined how frequently asset managers sided with company management advice on controversial decisions such as pay in 2014.Responsible investment networks
ShareAction hostReferences
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