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UK Stewardship Code to Benefit from Fine-tuning

Chris Hall

A review of the UK Stewardship Code 2020 should prompt evolution rather than revolution, according to industry experts, who want to see refinement aimed at further improving outcomes. The post UK Stewardship Code to Benefit from Fine-tuning appeared first on ESG Investor.

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“Clear Direction” on ESG in New Guidance for Australian Super Funds  

Chris Hall

She said that RIAA was working the UN Principles for Responsible Investment (PRI), CFA Institute and others to develop some agreed key ESG terminology. The draft guidance is due to be finalised in Q2 2023. The post “Clear Direction” on ESG in New Guidance for Australian Super Funds appeared first on ESG Investor.

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UK Code Sparks Overhaul of Stewardship Governance

Chris Hall

The introduction of a toughened code has led to improved governance and resourcing of stewardship by UK-based asset managers and owners, but investment in the area faces ongoing challenges, including tensions with other staff. .

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UK Aims to End Uncertainty on Fiduciary Duty

Chris Hall

“If there is a problem, its solution will be a legal one, so the FMLC is a sensible vehicle for considering it,” he said, adding that the FMLC has the “appetite to do the work, the right people in the room, and a real capacity to deliver”.

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Government Delay of ARGA Leaves FRC Toothless

Chris Hall

In March 2021, the BEIS published a consultation calling for an increase in audit firms’ accountability to shareholders, an expanded scope to include non-financial information such as ESG risks, and announced the development of ARGA. The consultation received over 600 responses, with the majority proving supportive of the new regulatory body.

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Voting Policies Offering Asset Owners Closer Scrutiny

Chris Hall

In terms of drivers of geographic distinctions, he cited the recently strengthened UK Stewardship Code as one reason why European firms generally outperformed their US counterparts on clarity of voting policy. Increasingly vocal. It remains to be seen what will happen in the coming proxy year.