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Others, though, see this as a positive step, saying that the simplification will make it easier for companies and asset managers to live up to their sustainability commitments. Last week, the FRC said that 297 institutions had signed its StewardshipCode so far, accounting for a total of 52.3 trillion (US$64.7 trillion) in AUM.
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.
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.
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).
Dr Alexander Juschus , CEO of the Association of Stewardship Professionals, outlines the importance of filling the stewardship skills gap to drive sustainable outcomes. While its roots may be longer, stewardship is synonymous today with sustainableinvesting.
Manning said feedback on this subject would inform a planned review of the overall UK legal and regulatory framework relating to investmentstewardship, due to be conducted later this year. The paper asked for feedback on “additional measures” to help FCA-regulated firms identify and respond to market-wide and systemic risks.
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.
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.
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.
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.
Through SIPs, trustees with 100 or more members are now expected to publicly state their – or their external managers’ – engagement policy and priorities, and explain in detail how they steward their sustainableinvestments. Trustees can then use this information to prioritise specific companies for engagement. . “We
UKSIF has responded to the UK regulator’s discussion paper, asking for further clarity and innovation when linking sustainability goals to remuneration. It suggested embedding sustainability-related objectives into the annual appraisal processes for staff as an example.
Scanning across to the Financial Reporting Council’s UK StewardshipCode, the 2020 Code represents a mature governance regime for UK-listed businesses. It has its origins in 1992’s Cadbury report and code, which covers the financial aspects of corporate governance.
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