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Take Five: The Waiting is Almost Over

Chris Hall

With the Swiss Re Institute naming the US as the second hardest-hit country by climate change globally in terms of annual economic losses, firms across the country have plenty of incentives to address this material risk. Done deal? – Evolution or revolution?

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ESG Overload 

Chris Hall

This was followed in 2010 by high level reporting for the Financial Reporting Council’s (FRC) original Stewardship Code. Despite both being voluntary, they quickly became industry norms, along with a minority of asset owners starting to do voluntary Task Force on Climate-related Financial Disclosures (TCFD ) reporting in 2019/20.

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Managers not Committing to “Most Impactful” Stewardship Measures

Chris Hall

Despite strong progress by asset managers on stewardship since 2020, voting data disclosure and new policies “are not being matched by real-world action”, reports ShareAction. Regarding stewardship, ShareAction found high levels of transparency across voting and engagement, but noted gaps in key areas.

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Will Fiduciary Fog Clear for Trustees?

Chris Hall

Today, says Lee, it is “undeniable” that climate change is having an impact in the real world and in the financial world. I assume that the aim of the latest review is to examine ongoing issues around fiduciary duty, especially in the context of the revised UK Stewardship Code 2020, to see what obstacles (real or perceived) remain.”

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Stewardship Dialogue Must be Ongoing – FCA

Chris Hall

According to Manning, the FCA is keen to identify regulatory constraints on collaborative engagement, which has been used increasingly by asset owners and managers in recent years, particularly to address systemic environmental risks, such as climate change and accelerating biodiversity loss.

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Trustees to Engage with Future

Chris Hall

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 will assess whether further guidance is needed in H2 2023. . Plotting a path to Paris .

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An Increasing Sense of Urgency

Chris Hall

According to figures published by The Global Sustainable Investment Alliance in 2021, Japan’s total sustainably invested assets stood at US$42,874 billion in 2020, representing a more than fivefold increase from 2016. These long-held principles of sustainability have filtered down to the world of investment. Significant progress.