Shareholder Engagement Policy

Shareholder Engagement Policy – interim statement on development

The Shareholder Rights Directive II is a European Union directive. It aims to:

  • promote greater shareholder engagement; and
  • improve transparency in the ownership of companies.

We use multiple investment managers to manage our assets. The managers engage with the companies in which they invest on our behalf. This includes voting in accordance with their fiduciary responsibilities.

Our investment managers have all signed up to the United Nations sponsored ‘Principles for Responsible Investment’. This means they are committed to:

  1. Incorporating Environmental, Social and Governance issues into their investment analysis and decision-making processes.
  2. Being an active owner and incorporating Environmental, Social and Governance issues into ownership policies and processes.
  3. Seeking disclosure on Environmental, Social and Governance issues for the companies invested in.
  4. Promoting acceptance and implementation of the principles within the investment industry.
  5. Working to enhance the effectiveness of implementation of the principles.
  6. Reporting on activities and progress towards implementation of the principles.

Our investment managers’ websites include ‘Sustainability’ and ‘Stewardship’ reports. These reports comment on their recent activities. They are updated every year.

In overseeing our investment managers, and in accordance with engagement and disclosure requirements, we will consider the development and application of an ‘Engagement Policy’ in accordance with the requirements of the Financial Conduct Authority, and update this webpage accordingly when our policy position is finalised