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
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.
These long-held principles of sustainability have filtered down to the world of investment. According to figures published by The Global SustainableInvestment Alliance in 2021, Japan’s total sustainablyinvested assets stood at US$42,874 billion in 2020, representing a more than fivefold increase from 2016.
While its roots may be longer, stewardship is synonymous today with sustainableinvesting. The latest version of the code places a greater emphasis on ESG issues, as well as on the role of investors in promoting sustainable and responsible investment practices.
The review factored in the implications of UK market abuse regulations and developments in competition law in major jurisdictions. The SDR proposals recognise the role of stewardship as a legitimate part of a sustainableinvestment strategy, with the inclusion of the sustainable improvers category,” said Manning.
It defines roles, responsibilities and accountabilities for asset owners, investment managers, advisors, and service providers. Policy ultimately aims to build the foundations that support the development of society towards shared goals, taking into account collective interests and political preferences, as well as addressing market failures.
It instead noted that policies should “consistently promote the appropriate use of stewardship by investors as part and parcel of discharging their duties”.
ESG Investor’s weekly round-up of moves and appointments in the sustainableinvesting sector, including CDP, Loomis Sayles, UKSIF, Built by Nature, Arcadian AM, London Pensions Fund Authority and PLSA. Prior to joining, Stevenson was Head of Business Development at Neuron Advisers, a boutique quantitative alternative investment firm.
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.
Paul Lee, Head of Stewardship and SustainableInvestment Strategy at investment consultants Redington, told ESG Investor the proposals should simplify the vote reporting process for both parties.
However, as institutional investors, academics, NGOs, investor networks and data providers congregated in London last week for ESG Investor ’s inaugural Stewardship Summit , it became clear that many asset owners lack the resources necessary to fulfil their engagement ambitions.
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 climate change. . “ The DWP pointed to the IIGCC’s Net Zero Stewardship Toolkit as a useful resource.
Some of the larger US charitable foundations have already declared deep commitments to targets related to the UN SustainableDevelopment Goals, such as the eradication of poverty and promotion of equality. It has its origins in 1992’s Cadbury report and code, which covers the financial aspects of corporate governance.
Shaking up existing stewardship practices can take time, especially when the current approach is so deeply embedded. Many countries in Asia already have stewardshipcodes in place, including Japan, Singapore, Hong Kong and South Korea. Koreas value-up programme is inspired by a similar initiative in Japan.
Maanch enhances stewardship platform as fast-changing expectations lead to new pressures on service providers to support collaboration. The vital and expanding role of stewardship in reaching sustainableinvestment goals is prompting a step change in the technology deployed to support it. trillion in AUM.
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.
The Financial Conduct Authority’s decision to halt the development of an effectiveness metric undermines systemic stewardship, says Gustave Loriot-Boserup, Founder of Compass Insights. Following this work, the UK StewardshipCode 2020, which we still use today, was published.
Proposals to bolster sustainable finance in Europe include recommendations for a new region-wide stewardshipcode. This week the European Securities and Markets Authority (ESMA) laid out its long-term vision for Europe’s Sustainable Finance Framework.
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.
Big shifts and giant leaps – Ahead of next week’s SDG Summit , the UN published a report outlining the science-based “transformational shifts” (or “ systems transformations ”) needed to achieve the 17 SustainableDevelopment Goals , replacing the incremental and insufficient process made since 2015.
In particular, it indicated that it was likely to rule against Shell – or anyone else for that matter – developing new oil or gas fields for which there is no carbon budget. But it was the energy transition’s impact on mineral-rich developing countries that was in focus for some at COP29. “We
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