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Laith Cahill, Senior NetZeroStewardship 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. These are both critical elements in investors’ stewardship toolkits.
“These new requirements are part of a bigger push right across the economy for new standards on environmental reporting to weed out greenwashing and support our transition to a netzero financial system – for example, through our new Sustainability Disclosure Requirements ,” she said.
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.
A letter to insurers from US state attorneys-general could have broad implications for the finance sector’s coordinated efforts to support netzero goals. None explained their actions (unlike Munich Re , which left in March); all committed to pursuing netzero goals individually. End of the line? –
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.
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. . “ If schemes hold assets directly, trustees must set out their stewardship policy on engaging with issuers in their SIPs.
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.”
The review will assess whether the StewardshipCode is creating a market for effective stewardship and the need for any further regulation in this area. We [proxy advisors] are an easy part of the investment chain to kick. The post Proxy Advisors Welcome FRC Analysis into Industry appeared first on ESG Investor.
In terms of drivers of geographic distinctions, he cited the recently strengthened UK StewardshipCode as one reason why European firms generally outperformed their US counterparts on clarity of voting policy. Increasingly vocal.
The country is also upping its game on stewardship, with New Zealand’s inaugural StewardshipCode launching last year with 17 signatories, says Simon O’Connor outgoing CEO of RIAA. “The Code was developed collaboratively by the industry and responds to our unique context in New Zealand,” he says.
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