Implementation Taskforce

News & Media

Implementation Taskforce

Growing a culture of social

impact investing in the UK

Implementation Taskforce Response to the FRC’s Consultation on Proposed Revisions to the UK Stewardship Code

The FRC proposes to define stewardship as ‘the responsible allocation and management of capital for the purpose of creating sustainable value for beneficiaries, the economy and society’. While we are sympathetic to the intent of the FRC’s definition, we consider that it is open to misinterpretation and does not sufficiently reflect asset owners and asset managers primary responsibilities as fiduciaries to promote the financial interests of their beneficiaries and clients. Our full response can be downloaded below: