The Office of NYC Comptroller Scott M. Stringer has been influential in shaping today’s corporate governance landscape, particularly in regards to standardizing proxy access. Now, the New York City Pension Funds enters phase two of its Boardroom Accountability Project—which has been aptly termed “Version 2.0”—in order to “ratchet up the pressure on some of the biggest companies in the world to make their boards more diverse, independent, and climate-competent…”
How closely do these initiatives reflect the sentiment among today’s main street investor base? That’s exactly what we aim to explore by sparking discussion with Michael Garland, Assistant Comptroller for Corporate Governance and Responsible Investment for New York City Comptroller Scott M. Stringer, and Cindy Fornelli, Executive Director, Center for Audit Quality (CAQ).
The CAQ recently published its 11th Annual Main Street Investor Survey, which reported on the confidence levels of today’s retail investors across several aspects: U.S. capital markets, U.S. public companies, audit committees and corporate boards. In this episode, we discuss:
What are the main objectives of the Boardroom Accountability Project Version 2.0?
Specifically, what are the NYC Pension Funds requesting from corporate boards?
How much confidence do investors have in board members, audit committees, and U.S. public companies?
How aligned are institutional and main street investors in matters of corporate governance and investor confidence?