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The UK’s Financial Reporting Council (FRC) has moved to reduce reporting burdens and streamline processes for signatories through a revamp of its StewardshipCode. The final phase will see a revised version of the code being published sometime during Q1 2025, with a likely effective date in January 2026. trillion (US$64.8
Andrea Tweedie, Head of Stewardship at the Financial Reporting Council, highlights progress to date and calls for ‘good, bad and ugly’ feedback ahead of the upcoming review. It is easy to overlook how far stewardship has come,” she said. Long-term process The FRC’s StewardshipCode review will unfold in three different stages.
“Asset owners in Germany and Belgium were basically following the asset managers’ lead on stewardship, as there is not much pressure applied on them to exert influence,” he said. “It The code is voluntary, but many institutional investors have signed up to it as a way of demonstrating their commitment to responsible investment.
This was followed in 2010 by high level reporting for the Financial Reporting Council’s (FRC) original StewardshipCode. In the UK this coincided with an updating of StewardshipCode reporting requirements and TCFD reporting for pension funds becoming mandatory.”
Proposed revision to stewardship definition seen as potentially weakening ambition and fostering distance between investment decisions and their impacts. A tweak to the Financial Reporting Council’s (FRC) definition of stewardship in a proposed update to the UK StewardshipCode has been received with alarm by asset owners and managers.
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