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A review of the UK StewardshipCode 2020 should prompt evolution rather than revolution, according to industry experts, who want to see refinement aimed at further improving outcomes. The post UK StewardshipCode to Benefit from Fine-tuning appeared first on ESG Investor.
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. The new codes substantially raised expectations for how money is invested on behalf of UK savers and pensioners,” said Tweedie.
Proposals to bolster sustainable finance in Europe include recommendations for a new region-wide stewardshipcode. In Q2 2024, Europe’s strengthening performance was, however, offset by outflows in virtually every other market – meaning green funds globally saw just US$4.3 billion of net new money.
billion of pension fund assets, as of 30 June 2024, and manages seven investment-pooling vehicles across seven asset classes: global equities, fixed income, infrastructure, real estate, private equity, credit and alternatives. Deakin is a strong advocate of the code. LPPI, for example, is responsible for £26.3
In March 2021, the BEIS published a consultation calling for an increase in audit firms’ accountability to shareholders, an expanded scope to include non-financial information such as ESG risks, and announced the development of ARGA. The consultation received over 600 responses, with the majority proving supportive of the new regulatory body.
The Nature Restoration Law (NRL) was passed by the European Parliament on Tuesday , but recent legislative developments suggest formal adoption by member states via the European Council is far from certain. FRC Head of Stewardship Andrea Tweedie’s keynote speech at the Stewardship Summit 2024 should shed further light on this.
“It is crucial to examine whether GPIF’s activities can be connected to companies’ behavioural changes and higher ESG ratings.” As first outlined in GPIF’s ‘ Stewardship Activities Report ’ published in March, collaborative studies will run over the course of 2023 and 2024.
If you look at stewardshipcodes across the world, they touch on resources as being a key element, but without explicitly giving out guidance on how organisations can report and which resources are required,” Jessica Gao, Director of Research at the TAI, told ESG Investor.
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