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Government plans to ease access to illiquid assets, but expects more robust stewardship. Paris alignment. Coffey also confirmed the introduction of new rules requiring pension scheme trustees to report on the alignment of their portfolios with the goals of the ParisAgreement, taking effect from 1 October.
Data gaps shouldn’t prevent large pension schemes from beginning to measure and disclose the extent of portfolio alignment with the ParisAgreement, said the UK government following its consultation on climate and investment reporting.
It instead noted that policies should “consistently promote the appropriate use of stewardship by investors as part and parcel of discharging their duties”. The PRI’s guide also said there will likely be greater emphasis on implementation and greater scrutiny of the actions that investors are taking over stewardship.
It emphasised the importance of trustees raising their climate stewardship ambitions by using Paris-alignment metrics to inform their engagement efforts to ensure they are truly contributing to the goals of the ParisAgreement. .
Oil and gas major Shell is under increasing pressure ahead of its annual general meeting (AGM) on 23 May, with asset owners like PGGM and the Church of England Pensions Board announcing their support for a shareholder proposal calling for the company to align its Scope 3 emissions target with the ParisAgreement. Car manufacturer Toyota is facing (..)
Proposals to bolster sustainable finance in Europe include recommendations for a new region-wide stewardshipcode. Regional Fora – from August to October to guide the development of comprehensive five-year plans due next year, which must bring the world back in line with the ParisAgreement.
Birol concurred with the UNFCCC’s Global Stocktake report – which last week confirmed much more action is needed to deliver on the ParisAgreement – insisting “we can speed this up if we put the right new policies in place”. The post Take Five: Think Big appeared first on ESG Investor.
Institutional investors in the UK and beyond have been near-universal in their praise for the role of the 2020 StewardshipCode in improving the quality of stewardship and engagement by asset owner and manager signatories, supporting short- and long-term investment objectives.
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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