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Strengthening the Stewardship Code
05 March 2019
The FRC is looking create a new Stewardship code, which sets out more rigorous requirements for reporting. The propped code now refers to environmental, social and governance (ESG) factors. Signatories are expected to take material issues into accountant when fulfilling their stewardship responsibilities. Aligning the code with the UK corporate governance code investors must also report how their purpose, values and culture enable them to meet their obligations to clients and beneficiaries.
The proposed code also expects investors to exercise stewardship across a wider range of assets where they have influence and rights, both in the UK and globally.
Future reporting will be subject to increased oversight by the FRC to ensure the code is effective in raising the stewardship across the investor community.
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