For the second year Etica Sgr joined Yoox‘s AGM, held in Milan on 19th April.
It was voted in favor of all items in agenda and together with some socially responsible investors such as The Cooperative Bank (AUM 23 billion euros), Boston Common Asset Management (AUM 1,8 billion euros) and Tri-State Coalition, Etica stressed some important ESG issues.
Etica appreciated the publishing of first Yoox’s Sustainability Report, well detailed (level B+ of GRI Guidelines) and referred to all stakeholders.
Etica SGR underlined the importance to adopt detailed policies on human rights and labor respect, to suppliers and logistics centers mainly, given the strong Yoox’s presence in China as well.
Regarding remunerations, Etica SGR suggested to Yoox to introduce some indicators such as ROE, cost/income and ROS together with the existing ones in order to link the variable part of CEO’ remuneration to a good company’s management. The suggestions regarded ESG goals introduction as well. Finally, Etica SGR asked the difference between the medium compensation of Yoox’s employees and CEO’s one.
19 April 2013Engagement Italian companies