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UK Stewardship Code to Keep up with the Times

Chris Hall

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.

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Take Five: The Waiting is Almost Over

Chris Hall

Clearing’s present danger – Financial market infrastructures are waking up to climate risks, even as some central banks are scaling back their work in this area. Another long-awaited announcement came from the UK’s Financial Reporting Council (FRC), which confirmed the start of its Stewardship Code 2020 review.

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EU Rules Overhaul Needed to Scrutinise Transition Plans

Chris Hall

Transparency on corporates’ decarbonisation strategies could require review of SRD II or introduction of European stewardship code. Europe’s regulatory framework should be adjusted to better support shareholder engagement efforts and give investors more oversight of portfolio companies’ climate transition progress, according to industry experts. (..)

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Stewardship Tools Evolve to Meet Rising Demand

Chris Hall

Enhanced resourcing Maanch’s Engagement Tracker platform was launched in June 2022, initially developed in collaboration with Swiss private bank UBP to trace the impact of engagements over time and monitor escalations that can support investment decision-making. The code currently counts 289 signatories, collectively accounting for £50.3

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Lack of Resources Weakening Stewardship Efforts

Chris Hall

“This is a significant hiring slowdown, perhaps indicating that stewardship and engagement is an area that managers are willing to cut as they face more challenging times financially,” the report mentioned.

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New Climate Rules and Guidance for UK Pensions

Chris Hall

This followed the final report of the Productive Finance Working Group, formed by HM Treasury, the Bank of England and the Financial Conduct Authority to encourage more investment in long-term less-liquid assets, widely seen as offering a wider range options for investors looking to support the low-carbon transition.

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Covid-19 Pay Restraint Bolstered by Investor Ownership, Gender Diversity

Chris Hall

Earlier this month, US proxy advisory firm Glass Lewis recommended that investors vote against remuneration plans at banks Barclays and Standard Chartered. . Investors are looking to vote against excessive executive remuneration. .