UK/EU - Pension schemes in the UK are backing an EU initiative which aims to make European corporate governance "a model for the rest of the world".
The initiative aims to deliver an integrated, modern company law and corporate governance framework to businesses, markets and the public.
NAPF investment director David Gould backed aims to strengthen shareholder rights, reinforce protection for employees and creditors and increase the efficiency and competitiveness of business.
He added that the NAPF welcomed the need to develop electronic communication and proxy voting while retaining traditional methods “to ensure those without necessary equipment or expertise are not disenfranchised”.
The NAPF also pointed out that the action plan had rightly identified cross-border voting as a stumbling block to shareholders’ ability to exercise ownership rights.
EU internal market commissioner Frits Bolkestein said: “Working in partnership, we have a unique opportunity to strengthen European corporate governance – and to be a model for the rest of the world.”
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