The FRC is consulting on significant updates to the Stewardship Code, with a view to streamlining reporting requirements while ensuring a clearer focus on the purpose of Stewardship and delivering increased transparency for consumers.
The proposals include:
- a new definition of stewardship emphasising the need to create long-term sustainable value for clients and beneficiaries;
- a new reporting process that will separate policy and activity disclosures;
- targeted principles for different types of signatory and service provider, with a new dedicated Principle for proxy advisers; and
- new guidance
Consultation closes on 19 February 2025.