PFA Pension will intensify its dialogue with American companies due to the prospect of restrictions on shareholder rights, its head of responsible investments, Rasmus Bessing, has said.

"While in Europe we continue to focus heavily on developing rules for responsible investments that can support sustainable development," Bessing continued, "other winds" are blowing in the USA.

Bessing claimed the new US government, via the Securities and Exchange Commission (SEC), was making it more difficult for shareholders to submit proposals at general meetings about, for example, companies' handling of climate risks.

"This is happening because they do not believe global warming has economic significance for the companies," he suggested.

"Regardless of whether it concerns good corporate governance, social conditions or climate, these areas can weaken the companies' value creation if they do not receive sufficient focus.

"This increases the risk for us as investors when we have to generate returns and ensure financial security for our customers," added Bessing.

As a result, he said PFA would step up its efforts in the US through increased dialogue and activity.

"We will increase our presence, including through resolutions at the upcoming general meetings.

"We have already put pressure on McDonald's, among others, to increase transparency about how they handle their impact and dependence on biodiversity and ecosystems.

"We also have a critical eye on Meta, which we believe should do more to prevent the spread of misinformation and ensure children's mental health," said Bessing.

According to Bessing, both Meta and McDonald's are based in Delaware, one of the states where shareholder rights are under particular pressure and may be further restricted.

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