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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.
The DWP issued a consultation last October on proposed changes to the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 to require trustees to calculate and disclose a portfolio alignment metric to show alignment with the goal of limiting climate change to 1.5 degrees Celsius.
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.
Stewardship is widely considered one of the most effective tools in an asset owner’s toolbox to ensure companies are prioritising ESG-related issues, such as mitigating the effects of climate change. . “ Other initiatives have been working to improve stewardship alignment between asset owners and managers. .
According to figures published by The Global Sustainable Investment Alliance in 2021, Japan’s total sustainably invested assets stood at US$42,874 billion in 2020, representing a more than fivefold increase from 2016. These long-held principles of sustainability have filtered down to the world of investment. C pathway. Mandatory disclosure.
In 2021 over 13,000 companies disclosed through CDP along with over 1,200 cities, states and regions. billion of assets, as of 31 March 2021. It is a Tier 1 signatory to the UK’s StewardshipCode, a signatory of the Climate Action 100+ and a member of the LAPFF.
As well as Statements of Investment Principles or Implementation Statements required by the UK’s Pensions Regulator, which require reporting on fund managers’ stewardship activities, trustees must ensure their funds are managed and report in line with the recommendations of the Task Force on Climate-Related Disclosures.
Early in the US AGM season, BlackRock indicated it was less likely to vote in favour of climate-related shareholder resolutions than in 2021, on the grounds that many on this year’s slate were too prescriptive. According to Stewart, BlackRock’s position was not out of step with other managers.
Hollow Shell – Shell scored a hollow legal victory this week when a Dutch court overturned a 2021 ruling that the oil and gas major must cut its Scope 1-3 emissions by 45%. A selection of the major stories impacting ESG investors, in five easy pieces. Transition tensions were evident this week from Baku to The Hague.
Thankfully the finance industry didn’t do that.” ASFI started back in 2021 on a sustainability roadmap for Australia, including a taxonomy and other sustainable-related policy initiatives. “It was a really smart move,” says Reynolds. Australia is forecast to earn US$302 billion from resource and energy exports, reports Energy Monitor.
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