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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.

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New Climate Rules and Guidance for UK Pensions

Chris Hall

The DWP issued a consultation last October on proposed changes to the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021 to require trustees to calculate and disclose a portfolio alignment metric to show alignment with the goal of limiting climate change to 1.5 degrees Celsius.

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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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Make Vote Reporting Template Mandatory, FCA Told

Chris Hall

“There’s been a lot of grumbling from investment managers about vote reporting requests from pension funds in particular,” he said. Samantha Chew, Stewardship Lead at Aegon UK, which is unable to consider divestment of its largely passively-managed portfolio, said poor transparency and timeliness of vote reporting were two longstanding barriers (..)

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Stewardship Nears Breaking Point

Chris Hall

A recent Financial Conduct Authority (FCA) discussion paper asked for feedback on possible regulatory change needed to support collaborative engagement and systemic stewardship, while the Financial Reporting Council is due to lead a review of its Stewardship Code. Also speaking at the Stewardship Summit, Mark Manning , Strategic Policy Advisor on (..)

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Trustees Must Overcome Data Gaps to Report on Paris Alignment – UK DWP

Chris Hall

In October last year, the DWP sought views on proposals to amend the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021, requiring reporting on pension schemes’ alignment with the Paris Agreement’s 1.5°C C temperature pathway.