This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Supervisory authority ESMA is calling for EU-wide stewardshipcode to hone and standardise investors’ engagement efforts and disclosures. There’s also the stewardshipcode introduced by the European Fund and Asset Management Association (EFAMA), which was first adopted in 2011.
Laith Cahill, Senior Net Zero Stewardship Specialist at the IIGCC, says the UK’s streamlined StewardshipCode must preserve its ambition. Since its last update in 2019, the landscape for stewardship and reporting has evolved drastically. Investor needs have changed, as have regulatory obligations.
Asset owner makes progress on climate and asset manager information-sharing in first year as StewardshipCode signatory. Last year, Phoenix also became a signatory of the Financial Reporting Council’s UK StewardshipCode. It intends to support constructive dialogue,” she said.
While one asset manager reported 5,312 engagement actions over 12 months, five others recorded 200 or fewer over the same period. It’s imperative that asset owners outline their stewardship expectations to asset managers from the outset, suggests Joe Dabrowski, Deputy Director at the Pensions and Lifetime Savings Association (PLSA).
The DWP issued a consultation last October on proposed changes to the Occupational Pension Schemes (ClimateChange Governance and Reporting) Regulations 2021 to require trustees to calculate and disclose a portfolio alignment metric to show alignment with the goal of limiting climatechange to 1.5 degrees Celsius.
According to Manning, the FCA is keen to identify regulatory constraints on collaborative engagement, which has been used increasingly by asset owners and managers in recent years, particularly to address systemic environmental risks, such as climatechange and accelerating biodiversity loss.
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.
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 climatechange. . “ If schemes hold assets directly, trustees must set out their stewardship policy on engaging with issuers in their SIPs.
The questionnaire has been consulted on by the investment industry and regulators, and the IIGCC is in the process of finalising it following feedback, to be published in the next few months.
Following this year’s proxy season, the UK Asset Owner Roundtable has invited asset managers to have a “constructive dialogue” with its members to improve alignment on climate-related engagements with investee firms.
In October last year, the DWP sought views on proposals to amend the Occupational Pension Schemes (ClimateChange Governance and Reporting) Regulations 2021, requiring reporting on pension schemes’ alignment with the Paris Agreement’s 1.5°C C temperature pathway.
New Zealand’s Minister for ClimateChange James Shaw tells ESG Investor that Australia and New Zealand have a uniquely close relationship. “2023 is the 40 th anniversary of Closer Economic Relations,” Shaw says. “2023 is the 40 th anniversary of Closer Economic Relations,” Shaw says. “By By working together we can achieve more.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content