Church of England brings multi-billion voting clout into play against excessive City bonuses
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Church of England plans to use its £3 billion voting clout to tackle excessive City bonuses as it seeks to reignite last year's "shareholder spring". The Church, which holds a significant amount of its £8 billion assets as shares in companies, said it will challenge the City's bonus entitlement culture by rejecting soaring director pay deals as the annual meeting season gets under way. James Featherby, chairman of the Church of England's Ethical Investment Advisory Group, said: "We want to see lower annual bonuses and greater emphasis on rewarding executives who manage ethical, social and environmental issues well and so deliver enduring corporate success." Last year's shareholder spring saw a number of controversial City pay deals voted down, with firms including Aviva, Prudential and Cookson feeling the wrath of investors.
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