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UK Stewardship Code to Benefit from Fine-tuning

Chris Hall

A review of the UK Stewardship Code 2020 should prompt evolution rather than revolution, according to industry experts, who want to see refinement aimed at further improving outcomes. But some have queried the extent of the code’s effectiveness so far.

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New Climate Rules and Guidance for UK Pensions

Chris Hall

PLSA) digital ESG Conference 2022. These new requirements are part of a bigger push right across the economy for new standards on environmental reporting to weed out greenwashing and support our transition to a net zero financial system – for example, through our new Sustainability Disclosure Requirements ,” she said.

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Phoenix Champions Human Rights Stewardship

Chris Hall

Asset owner makes progress on climate and asset manager information-sharing in first year as Stewardship Code signatory. Last year, Phoenix also became a signatory of the Financial Reporting Council’s UK Stewardship Code. Piani described the code as being “pivotal” to the development of the firm’s engagement strategy. “It

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A Missed Opportunity

Chris Hall

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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UK Aims to End Uncertainty on Fiduciary Duty

Chris Hall

Green Finance Strategy outlines the government’s plans to align the finance sector with its net zero commitments.  A commitment to review pension trustees’ fiduciary duties and stewardship activities in the UK’s updated Green Finance Strategy has been welcomed by industry experts.

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Proxy Advisors Welcome FRC Analysis into Industry  

Chris Hall

Hodge told ESG Investor a vote of 20% or more against a resolution relating to director elections or remuneration occurred in only half of the cases where one or both of ISS or Glass Lewis had made such a recommendation in 2022, although this increased to 77% of cases when both did so.

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An Increasing Sense of Urgency

Chris Hall

The pace has quickened further in 2022 in response to then Prime Minister Yoshihide Suga’s April 2021 announcement that by 2030 the country’s emissions would reduce by 46% relative to 2013 levels. Such high levels volumes in the ESG investment space partly reflect the lead taken by the country’s policymakers and financial regulators.