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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.
Green Finance Strategy outlines the government’s plans to align the finance sector with its netzero 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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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. . “ The DWP will assess whether further guidance is needed in H2 2023. . Plotting a path to Paris .
DP23/1, released in February, focused on the capabilities needed by FCA-regulated firms to support both economy-wide transition to netzero and sustainable business models more broadly. We want to continue to engage actively on these topics.”
Has your asset manager published a UK StewardshipCode statement? If your asset manager is a signatory to the UK StewardshipCode, then this insight is more likely to be central to their investment approach. The UK StewardshipCode sets high stewardship standards for asset managers.
In 2021 the FSA updated the Corporate Governance Code , asking listed companies – on a comply-or-explain basis – to address sustainability issues, including climatechange and other global environmental priorities, “positively and proactively”. Mandatory disclosure.
Taking climate risks as an example, substantial investment is required in climate solutions such as renewable energy to successfully transition to a net-zero economy.
Sturgeon joins from consultancy firm Mott MacDonald, where she worked as the Regenerative Design and ClimateChange Practice Lead for the APAC region. It is a Tier 1 signatory to the UK’s StewardshipCode, a signatory of the Climate Action 100+ and a member of the LAPFF. billion of assets, as of 31 March 2021.
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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.
Story time – The halfway point of the calendar year brings forth a stream of impact and sustainability reports from asset managers and owners, particularly in the UK, as signatories also comply with their obligations under the StewardshipCode. Sounds familiar? That’s because it is.
Proposals to bolster sustainable finance in Europe include recommendations for a new region-wide stewardshipcode. Withdrawals from Climate Action 100+ have been taken by many as signs that the red team is winning. A selection of the major stories impacting ESG investors, in five easy pieces. Finance is an issue.
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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.
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