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Shaking up existing stewardship practices can take time, especially when the current approach is so deeply embedded. Many countries in Asia already have stewardshipcodes in place, including Japan, Singapore, Hong Kong and South Korea. Koreas value-up programme is inspired by a similar initiative in Japan.
Maanch enhances stewardship platform as fast-changing expectations lead to new pressures on service providers to support collaboration. The vital and expanding role of stewardship in reaching sustainableinvestment goals is prompting a step change in the technology deployed to support it. trillion in AUM.
However, mounting evidence that a number of ‘sustainable’ strategies were not as green as they seemed has galvanised regulators to act. Has your asset manager published a UK StewardshipCode statement? The UK StewardshipCode sets high stewardship standards for asset managers.
Manning said the question of “perceived barriers” to collaboration had been raised previously, in feedback to the FCA’s discussion paper on stewardship regulation, jointly published with the Financial Reporting Council (FRC) in 2019, and since. “It
Margarita Pirovska, Director of Policy, Principles for Responsible Investment, and Will Martindale, Co-Head of Sustainability, Cardano, highlight priorities for investors as policy engagement becomes a key part of the day job. Public policy sets the rules of the game for the investment industry.
This should help different types of investment organisations to match stewardship expenditure to their particular level of ambition, said McNamee. They’re invested in typically thousands of companies but at most they have a few dozen individuals responsible for stewardship. The numbers just don’t add up.”
UK asset owners are feeling the squeeze from sustainability reporting, but they are working on ways to ease the pinch. This was followed in 2010 by high level reporting for the Financial Reporting Council’s (FRC) original StewardshipCode. Then in 2020, things began to change, notes Russell.
The concept of assessing what effective stewardship should look like was first introduced by the FCA in 2019 in a joint effort with the Financial Reporting Council (FRC), setting the groundwork which helped define what the minimum expectations should be for financial services firms investing on behalf of clients and beneficiaries.
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