Local authority pension funds are not "duty bound" to invest in tobacco, a report claims.
Shareholders will be given more powers to hold companies to account under plans outlined yesterday by the business secretary.
Nick Clegg urged shareholders to act "like business owners rather than absentee landlords" in a speech yesterday.
Campaigning groups have welcomed the government's move to tackle spiralling executive pay, but warn giving shareholders a binding vote is not enough to stall the practice.
James Murdoch has survived a vote to oust him as chairman of BSkyB, despite opposition from investors.
The Kay Review's call for evidence has received highly contrasting evidence on the health of equity markets from lobby groups on each side of the argument.
Andrew Short looks at schemes' increasing involvement in shareholder activism, led by the revolt against News Corp, and asks if it is just the larger schemes that can engage on this issue
Pension funds can change the face of modern capitalism if their investment and governance structures are fundamentally redesigned.
Investors must ensure BP's "lessons have been learnt" from the Deepwater Horizon oil spill in the Gulf of Mexico last year, according to FairPensions.
FairPensions and Action on Smoking and Health have joined forces to write an investor briefing on fiduciary duty and the tobacco industry.