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UK Stewardship Code to Keep up with the Times

Chris Hall

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.

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Take Five: The Waiting is Almost Over

Chris Hall

Clearing’s present danger – Financial market infrastructures are waking up to climate risks, even as some central banks are scaling back their work in this area. Another long-awaited announcement came from the UK’s Financial Reporting Council (FRC), which confirmed the start of its Stewardship Code 2020 review.

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Lack of Resources Weakening Stewardship Efforts

Chris Hall

“This is a significant hiring slowdown, perhaps indicating that stewardship and engagement is an area that managers are willing to cut as they face more challenging times financially,” the report mentioned.

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New Climate Rules and Guidance for UK Pensions

Chris Hall

This followed the final report of the Productive Finance Working Group, formed by HM Treasury, the Bank of England and the Financial Conduct Authority to encourage more investment in long-term less-liquid assets, widely seen as offering a wider range options for investors looking to support the low-carbon transition.

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Covid-19 Pay Restraint Bolstered by Investor Ownership, Gender Diversity

Chris Hall

Earlier this month, US proxy advisory firm Glass Lewis recommended that investors vote against remuneration plans at banks Barclays and Standard Chartered. . Investors are looking to vote against excessive executive remuneration. .

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FCA Guidance Needed on ESG-based Exec Pay

Chris Hall

It suggested embedding sustainability-related objectives into the annual appraisal processes for staff as an example.

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This Week’s People Moves: Simpson Steps Down as CDP CEO

Chris Hall

Mark Allison , Leader of Merton Council, and Sophia Morrell , a Director at UK Finance, a trade association for the UK’s banking and financial services industry, have been appointed to the London Pensions Fund Authority (LPFA) Board. The LPFA is a defined-benefit LGPS with over 93,000 members, 124 active employers and £6.9

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