All policy resources

BEIS consultation on mandatory TCFD

4 May 2021

ShareAction responds to the Department of Business, Energy and Industrial Strategy’s (BEIS) consultation, Consultation on requiring mandatory climate-related financial disclosures (TCFD) by publicly quoted companies, large private companies and Limited Liability Partnerships (LLPs). 

We advocate for disclosure in line with TCFD’s 11 recommendations, mandatory scenario analysis and compulsory reporting of Scope 3 emissions, to take urgent action on climate risk.

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ShareAction responds to EU’s Corporate Sustainability Reporting Directive

21 April 2021

The Corporate Sustainability Reporting Directive (CSRD), presents significant improvements to reform the EU Non-Financial Reporting Directive (NFRD). The mandatory European sustainability standards that will be developed under this legislation will be instrumental to enable investors to channel their investments to more sustainable activities.

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Second feedback on EU proposal for a European single access point for corporate data

15 April 2021

ShareAction has provided its second feedback on the EU’s proposal for a single access point for financial and non-financial information publicly disclosed by companies.

ShareAction continues to strongly support the European Commission’s intention to present a legislative proposal to build a European single access point for corporate data. We have highlighted in this consultation response that the access point should put sustainability data on an equal footing with financial data and ensure the data is publicly available for all stakeholders.

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Civil Society Statement: Due Diligence & Corporate Accountability Legislative Report

14 April 2021

Last month, the European Parliament adopted a report on corporate due diligence and corporate accountability, with recommendations for the European Commission on the necessary next steps to be taken. Along with other NGOs, ShareAction published a statement in which we emphasise our support for this report and the need for the Commission to build on this, in the upcoming legislation.

The report from the European Parliament sends a strong signal on the key elements it expects in the upcoming legislation, calling for mandatory corporate due diligence and civil liability regimes, among other initiatives. However, we outline seven key areas in which the Commission can go further to ensure the upcoming legislation truly protects people and the planet.

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Civil Society Statement: Recommendations for supply chain reporting requirements

1 April 2021

Historically, corporate sustainability transparency in the context of supply chains has seen a lack of agreement on the reporting requirements of human rights matters and non-climate related environmental issues.

Along with other civil society groups, ShareAction has published a statement in which it makes nine recommendations for standardisable supply chain data and indictors applicable across high-risk sectors.  Our recommendations include baseline requirements for the description of supply chains, mandatory disclosure of Tier 1 suppliers, as well as sector-specific requirements.

These recommendations will provide a standardised insight into companies exposure to risks and impacts and support the disclosure of corporate human rights and environmental due diligence.

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Scottish Government Climate Change Engagement Strategy consultation

31 March 2021

ShareAction responds to a Scottish Government strategy consultation on climate change engagement, with reference to the Glasgow COP26 summit.

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Feedback to European Banking Authority on Remuneration Policies

19 March 2021

Significant changes to the dominant business model which is based on prioritising short-term profits at the expense of gender equality, is urgently needed. To develop remuneration policies that are gender equal, investment firms need to close the gender pay gapacross their workforce and account for how their business operations are inhibiting better female participation. We therefore strongly support the European Banking Authority’s efforts to ensure investment firms have in place gender neutral remuneration policies for all staff as part their internal governance arrangements.

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FRC 2021/22 strategy consultation

12 March 2021

ShareAction responds to the FRC’s strategy consultation for 2021/22.

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Department of Work and Pensions Climate Risk Governance and Reporting Consultation

12 March 2021

ShareAction responds to the Department of Work and Pensions’ (DWP) consultation, Taking action on climate risk: improving governance and reporting by occupational pension schemes. 

We welcome the important step taken by DWP in developing a regulatory framework for mandatory TCFD reporting by pension schemes. However, we outline further measures needed to take action on climate risk, including developing a framework that addresses how investment portfolios are Paris-aligned and urging the UK Government to take a clear and joined-up approach to implementing TCFD.

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Laying the Track: The Race to Zero – The role of asset managers in filing and voting on resolutions to tackle the climate crisis

10 March 2021

The third in our new series of COP 26 briefings for policymakers, this briefing sets out key issues on how the asset management industry is filing and voting on resolutions to tackle the climate crisis. It aims to shine an independent spotlight on the state of play in the industry and sets how policymakers should regulate to move investors in the right direction. The picture that emerges shows the investment sector overlooking essential aspects of stewardship, with weak climate-related resolutions and poor voting practices still too prevalent across asset managers’ stewardship activities.

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Treasury Select Committee Future of Financial Services inquiry

19 February 2021

ShareAction responds to a Treasury Select Committee inquiry into post-Brexit regulation of UK financial services.

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Treasury Future Regulatory Framework review

19 February 2021

ShareAction responds to the Treasury’s review of how the post-Brexit UK financial services industry is regulated.

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ShareAction feedback on the EU proposal for an Initiative on Sustainable Corporate Governance

11 February 2021

For too long, companies have focused on short-term financial performance compared to their long-term development and sustainability aspects. ShareAction strongly supports the European Commission’s intention to introduce an initiative on sustainable corporate governance that will ensure environmental and social interests are fully embedded into business strategies.  Our three key priorities for the proposal will be essential for its success:

  1. Establish a legal duty for companies to undertake environmental and human rights due diligence.
  2. Clarify directors’ duties to ensure that the sustainability matters are duly considered at a strategic level and put forward transparently in the company’s overall strategy.
  3. Strengthen directors’ duties towards stakeholder interests.

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FRC Future of Corporate Reporting consultation

5 February 2021

ShareAction responds to an FRC consultation considering the future of corporate reporting regimes.

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Feedback on EU proposal for a European single access point for corporate data

19 January 2021

ShareAction has provided feedback to the EU proposal for a European single access point for financial and non-financial information publicly disclosed by companies

ShareAction strongly supports the European Commission’s intention to present a legislative proposal to build a European single access point for corporate data. We see four key priorities for the single access points which will be essential for its success: 1) The single access point’s database must include small companies, non-listed companies, and the data provided must include sustainability data; 2) The public access point should put sustainability data on an equal footing with financial data and give non-financial information the same visibility; 3) The access point must be publicly accessible and free of charge for all citizens; 4) The platform should allow for sector-specific information.

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Feedback to EU Taxonomy criteria on climate change adaptation & mitigation

18 December 2020

ShareAction has provided feedback to the EU Taxonomy draft Delegated Acts on the Technical Screening Criteria for climate change adaptation and mitigation.

Please find our full response in the document attached.

The EU Taxonomy has been hailed globally as a milestone in creating the much-needed tools for financing the transition to a low-carbon economy. For this tool to effectively facilitate reaching the EU emission reduction targets and commitments under the European Climate Law to meet climate-neutrality by 2050, it needs to fully endorse the ambition of the Technical Expert Group’s (TEG) recommendations, if not going even further.

Our key recommendations concern the following areas:
– Maintain the proposed climate change mitigation criteria for electricity generation of 100g CO2/kWh to effectively exclude natural gas without abatement (CCSU)
– Exclude the burning of all forest biomass for energy as well as reverse the inclusion of all bioenergy feedstocks with higher lifecycle emissions compared to fossil-fuels
– Explicitly exclude hydrogen produced with non-renewable power
– Reconsider the inclusion of activities such as short-term forestry rotation, livestock and small hydropower
– The inclusion of sea and coastal water transport should be conditional on the examination by the Platform on Sustainable Finance
– Exclude the burning of refuse-derived fuel (RDF) in cement plants, as recommended by the TEG

We have also supported a civil society joint-statement on the draft Delegated Acts, which is available here.

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TPR Pensions of the Future consultation

16 December 2020

ShareAction responds to a consultation on TPR’s 15 year strategy.

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Civil Society Statement: Ten Priorities for the Climate Taxonomy Draft Delegated Act December 2020

15 December 2020

A couple sit in a park with London in the distance - front cover of the Responsible Investment Bill

Following the release of the European Commission’s draft Delegated Act (hereafter identified as ‘draft DA’) on the EU Sustainable Taxonomy, we, a coalition of NGOs, think-tanks, experts, scientists, shareholder associations, and sustainable investment associations representing millions of citizens in Europe and the global South, are writing to stress our strong support for an EU sustainable taxonomy rooted in climate and environmental science.

The global climate strikes have consistently made a simple demand: listen to the science. We agree. Just as experts and evidence have been key assets in addressing the COVID-19 pandemic, so too must they, and not sectoral interests, determine our policies to fight the climate crisis. While we recognise that the draft DA has taken into account the recommendations of the Commission’s Technical Expert Group (TEG) on the climate taxonomy to a large extent, we would like to voice substantial concerns that the draft DA has ignored or weakened the TEG’s scientific advice for several activities. We outline the ten most important areas that need to be revised to produce a taxonomy that is based on scientific evidence, supports fully sustainable economic activities, accelerates the shift from unsustainable to sustainable activities, and truly reduces the risk of greenwashing. In addition to these ten priorities, we strongly support the development of an unsustainable taxonomy, which is crucial to reliably identify risky sectors and accelerate their transition.

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Alliance for Corporate Transparency Joint Position on NFRD Reform

15 December 2020

The Alliance for Corporate Transparency, of which ShareAction is a member, strongly welcomes the European Commission’s commitment to reform the EU Non-Financial Reporting Directive and explore the development of future mandatory EU non-financial reporting standards.

These processes offer a unique opportunity to address the gaps and shortcomings of corporate sustainability reporting, which in turn will support smoother achievement of EU goals.

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Laying the Track: The Race to Zero – The role of asset managers in tackling the biodiversity crisis

10 December 2020

The second in our new series of COP 26 briefings for policymakers, this briefing sets out key issues on how the asset management industry is responding to the biodiversity crisis. It aims to shine an independent spotlight on the state of play in the industry and sets how policymakers should regulate to move investors in the right direction. The picture that emerges shows the investment sector overlooking biodiversity considerations when making investment decisions.

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Welsh Parliament consultation on the Well-being of Future Generations Act (Wales) 2015

27 November 2020

ShareAction outlines the role responsible investment can play in the implementation of the Well-being of Future Generations Act (Wales) 2015.

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Task Force on Climate-related Financial Disclosures: A ShareAction Briefing for MPs

30 October 2020

The Intergovernmental Panel on Climate Change (IPCC) warns that averting the most serious consequences of climate change requires a radical overhaul of the global economy. The Financial Stability Board’s Task Force on Climate-related Financial Disclosure (TCFD) provides the first industry-driven reporting framework enabling financial sector stakeholders to account for the financial impact of climate change on businesses and take action to address this. This briefing aims to explain what TCFD is, how it works, the current state of play and the future outlook.

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Laying the Track: The Race to Zero – The role of asset managers in tackling the climate crisis

14 October 2020

The first in our new series of COP 26 briefings for policymakers, this briefing sets out key issues on how the asset management industry is responding to the climate crisis. It aims to shine an independent spotlight on the state of play in the industry and sets out how policymakers should regulate to move investors in the right direction. The picture that emerges, while indicating a rising awareness of climate change as a financial risk, falls well short of what is needed to achieve net zero by 2050.

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Feedback Inception Impact Assessment on EU Sustainable Corporate Governance

8 October 2020

ShareAction strongly supports the European Commission’s intention to introduce an initiative on sustainable corporate governance that will ensure environmental and social interests are fully embedded into business strategies. Our main recommendations are:

1) Review executive remuneration for it to also be linked to longer-term sustainability targets
2) Complement the definition of directors’ duty of care with the necessary enforcement and implementation mechanisms against a backdrop of ever-decreasing direct ownership, short share-holding periods and issues with the exercise of voting rights.
3) Adopt an effective mandatory due diligence framework based on existing practice such as the OECD Due Diligence Guidance for Responsible Business Conduct.

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DWP Climate risk reporting by occupational pension schemes consultation

7 October 2020

ShareAction responds to a DWP consultation on proposals to improve climate risk reporting and governance by trustees of occupational pension schemes.

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DEFRA consultation on Due Diligence on Forest Risk Commodities

5 October 2020

ShareAction responds to a DEFRA consultation on proposals to improve due diligence in supply chains in relation to forest risk commodities.

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Pension Schemes Act 2021: House of Commons briefing, October 2020

2 October 2020

ShareAction outlines key changes sought during the House of Commons debate on the Pension Schemes Act 2021. This follows our previous briefing published for the House of Lords debate, and is updated to reflect amendments made by the House of Lords.

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FCA consultation on climate-related financial disclosures for listed issuers

1 October 2020

ShareAction responds to an FCA consultation, outlining why mandatory climate-related financial disclosure should be applied beyond listed issuers.

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ShareAction input to the consultation by the European Supervisory Authorities regarding ESG disclosures under the Sustainable Finance Disclosure Regulation

2 September 2020

We have long advocated for a financial system that is transparent and provides its investors and society with meaningful information about its impacts on communities and the environment. After all, effective disclosure is the first step towards building a financial system that fully integrates sustainability factors to unleash its positive potential. To this end, the draft Regulatory Technical Standards (RTS) are a very significant step in the right direction, and introduce a useful conceptual framework for disclosure.

We welcome the approach of defining mandatory indicators that are considered to always lead to a principal adverse impact and then to guide Financial Market Participants (FMPs) on how to disclose on additional adverse impacts in a harmonised and comparable manner. We are however concerned on the lack of requirements to justify the choice of the two additional adverse impact indicators FMPs will have to report against. We urge the ESAs to consider adding a number of additional indicators to the Principal Adverse Impacts table (Table I, Annex II), in particular climate indicators that are forward-looking.

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TPR consultation on DB investment code of practice

2 September 2020

ShareAction responds to TPR’s proposals for its investment code of practice for DB pension schemes.

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BEIS Select Committee Future of Audit inquiry

1 September 2020

ShareAction comments on proposals in the Kingman and Brydon Reviews for a future UK auditing regime.

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BEIS Response to Post-pandemic Economic Growth Inquiry

28 August 2020

ShareAction has provided feedback to the Department of Business, Energy and Industrial Strategy Select Committee’s Post-pandemic economic growth inquiry.

The Government’s recovery package should prioritise the principles of resilience, security and sustainability.  To do this, we recommend the Government improve the economic security of those in lower incomes, require companies to consider the long-term risks and impacts of their business strategies and make future financial support for business conditional on the adherence to a number of sustainable initiatives.

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Treasury Select Committee follow-up inquiry on Decarbonisation and Green Finance

28 August 2020

ShareAction responds to a follow-up to the Treasury Select Committee’s 2019 inquiry, examining the impact of Covid-19 on decarbonisation and green finance.

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Environmental Audit Committee inquiry on Greening the post-Covid Recovery

14 August 2020

ShareAction outlines why responsible investment is needed to secure a green economic recovery from the Covid-19 pandemic.

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Labour Party Policy Commission on Work, Pensions and Equality

20 July 2020

ShareAction responds to a Labour Party Policy Commission, outlining policies to ensure the pensions industry factors in ESG issues more effectively.

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Amending sectoral legislation to integrate end-investors’ sustainability preferences

8 July 2020

ShareAction, the responsible investment advocacy group, welcomes the opportunity to provide feedback to the draft Delegated Acts presented by the European Commission on the obligation of investment firms, investment funds, mutual funds and insurance firms to advise clients on social and environmental aspects of financial products, amending UCITS, MiFID II and IDD.

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Raising the bar on corporate disclosure with an ambitious NFRD-Review

17 June 2020

ShareAction has responded to the public consultation on the review of the Non-Financial Reporting Directive (NFRD).

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BEIS Reforming Regulation Initiative survey

11 June 2020

ShareAction responds to a BEIS survey, outlining priorities for regulatory reform in order to promote responsible investment.

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BEIS Select Committee consultation on possible future inquiries

29 May 2020

ShareAction outlines its proposals for an inquiry into mitigation of financial risk associated with factors such as labour rights and obesity.

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Labour Party consultation on Internationalising the Green New Deal

21 April 2020

ShareAction responds to a consultation by the Leader of the Labour Party, Sir Keir Starmer, outlining why a ‘Green New Deal’ must include reform of the investment system.

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Environmental Audit Committee consultation on possible future inquiries

15 April 2020

ShareAction outlines its proposals for a follow-up inquiry to the Committee’s 2018 Green Finance inquiry.

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Virtual AGMs in the wake of Covid-19

26 March 2020

ShareAction has called on the UK Government to protect shareholder democracy during virtual annual general meetings (AGMs) in response to the Covid-19 pandemic. In a letter to Alok Sharma, the Secretary of State for Business, Energy and Industrial Strategy, ShareAction asks BEIS to issue clear guidance to ensure the process for accessing, asking questions and voting at digital AGMs continues to be easy and accessible to all shareholders, to ensure that AGMs maintain their usual standards of transparency. While these measures are eminently sensible precaution to take in these times,they should be a temporary solution.

 

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Pension Schemes Act 2021: House of Lords briefing, March 2020

16 March 2020

ShareAction outlines key changes sought during the House of Lords debate on the Pension Schemes Act 2021.

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Response to LGPS consultation on responsible investment guidance

10 January 2020

ShareAction responds to a consultation on the Local Government Pension Scheme’s guidance on responsible investment.

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Response to the Law Commission’s consultation on intermediated securities

29 November 2019

ShareAction responds to the Law Commission’s review into the system of intermediated securities and obstacles to responsible investment along the investment chain.

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General Election 2019: ShareAction Manifesto Asks

4 November 2019

This briefing outlines ShareAction’s core asks ahead of the 2019 UK General Election.

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Response to DEFRA’s consultation on its National Food Strategy

4 November 2019

ShareAction responds to DEFRA’s consultation on its National Food Strategy, highlighting the need to address childhood obesity and working conditions in agricultural supply chains.

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Response to the Pension Regulator’s consultation on trusteeship and governance

10 October 2019

ShareAction responds to the Pension Regulator’s consultation on trusteeship and governance outlining how better understanding of ESG risk, and greater diversity on trustee boards, can secure better outcomes for pension scheme members.

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Treasury Select Committee inquiry on Decarbonisation and Green Finance

2 August 2019

ShareAction responds to the Treasury Select Committee’s inquiry into how to decarbonise the UK economy at the pace required of the climate crisis.

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Response to FCA Consultation on IGCs

15 July 2019

ShareAction supports proposals to require publication of policies on ESG, stewardship, and scheme members’ views & calls for regulatory guidance on TCFD reporting.

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FCA & FRC Building a regulatory framework for effective stewardship

7 May 2019

Our response to the discussion paper on building a regulatory framework for effective stewardship: recommendations include to extend ‘stewardship’ to include the environment.

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Policy Briefing on the Impact of Biomass on Climate

1 May 2019

This briefing outlines ShareAction’s recent research on biomass energy generation which highlighted key issues around how its use and consideration as a renewable energy source is inappropriate.

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FCA consultation on proposals to improve shareholder engagement

9 April 2019

In this consultation response, we call for voting disclosure to be made mandatory under SRD II.

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FRC: Proposed Revisions to the UK Stewardship Code

9 April 2019

We respond positively to the proposed revisions, while making some suggestions for further improvement to the Code.

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Open letter to MEPs on Taxonomy regulation

27 March 2019

NGOs signed an open letter urging MEPs to vote for strong social and environmental protections in investments.

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Accelerating Progress & Reaching Scale: Proposals for the future of the Sustainable Finance Agenda

28 February 2019

This statement, prepared by ShareAction and eight other civil society organisations, lays out our shared vision for the future of the Sustainable Finance Agenda.

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Will Employees Benefit?

12 February 2019

We evaluate the climate-risk management of 25 FTSE pension schemes and offer recommendations for improvement.

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FCA consultation on climate change & green finance

31 January 2019

We focus on the need to implement the recommendations of the Taskforce on Climate-related Financial Disclosures and on asset owner disclosures.

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DWP consultation on pensions dashboard

28 January 2019

We support a pensions dashboard as the first step in the journey towards better engagement between pension schemes and members.

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Letter to EU policymakers on disclosure regulation

19 November 2018

ShareAction joins other NGOs and trade unions write to European policy-makers to ensure a speedy and positive progression of disclosure requirements for sustainable investments

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Event report: Human Rights Metrics (25 September 2018)

17 October 2018

This report contains highlights of our event on the state-of-play of social metrics and how to best capitalise on their use through the European sustainable finance agenda.

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Pension Costs and Transparency Inquiry

18 September 2018

Our submission to this inquiry argues that more transparent schemes can ensure greater engagement with savers and mitigate ESG-related financial risks.

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Response to FRC review call for evidence

6 August 2018

This response identifies areas for improvement in the current Stewardship code, and raises concerns about the level of funding the FRC receives for stewardship.

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Letter Exchange with Vice-President Dombrovskis, March-July 2018

23 July 2018

These letters set out our key arguments for a human rights mandate in the development of the European Commission’s sustainable finance taxonomy.

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Clarifying and strengthening trustees’ investment duties

17 July 2018

This resource contains our submission to the UK Government’s consultation into pension trustees’ duties to take into account ESG factors in investments and stewardship.

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Response to FCA/TPR Consultation on Regulating the Pensions and Retirement Income Sector

19 June 2018

ShareAction responded to the FCA/TPR’s consultation. We emphasised the importance of transparency and availability of information to savers, so they can take action to ensure they receive good outcomes.

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Response to BEIS Consultation on Insolvency and Corporate Governance

11 June 2018

ShareAction responded to the BEIS consultation, arguing for a clearer Stewardship Code with more focus on ESG, and more substantive regulation to ensure signatories carefully consider compliance and reporting.

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Promoting Sustainable Finance Through the ESAs Package

1 April 2018

In the context of the ongoing review of the European Supervisory Authorities, this policy brief outlines a vision for how sustainability should feature into their mandates.

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Pensions for the Next Generation: Communicating What Matters

17 March 2018

This report explores the attitudes of young savers towards their pensions and proposes easy, low-cost solutions that will help switch millennials on to the power of their savings.

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Human Rights and Finance: What Next for European Union Policy?

8 March 2018

This report follows an event we co-organised on human rights and finance at the European Parliament. In it, we share key outcomes from the event on how best to bring visibility to this crucial agenda.

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NGO Recommendations for the EU Sustainable Finance Action Plan

8 March 2018

ShareAction and our European policy partners put together an updated anthology of our recommendations for the Commission’s work on sustainable finance, presented in March at the European Parliament.

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Response to FRC consultation on Proposed Revisions to the UK Corporate Governance Code

28 February 2018

ShareAction responded to the FRC consultation, supporting moves to simplify the Code and suggesting links between the Governance Code and the Stewardship Code be strengthened to drive businesses to consider their impact on wider stakeholders.

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Civil Society Response to the Final Report of the High Level Expert Group on Sustainable Finance

20 February 2018

This briefing is a unified response by a number of European civil society organisations, including ShareAction, to the ambitions and omissions in the recommendations of the High Level Expert Group on Sustainable Finance.

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Who Watches the Watchers? Transparency and Accountability in Workplace Personal Pensions

17 February 2018

This report ranks how effectively and transparently the independent governance committees (IGCs) of 16 large UK contract-based pension schemes reported in 2017 on their work protecting the interests of scheme members.

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Response to EC Public Consultation on Institutional Investors and Asset Managers’ Duties Regarding Sustainability

6 February 2018

ShareAction has responded to the European Commission’s consultation. We have emphasised that ESG factors and consideration of beneficiaries’ interests constitute a central component of the proper discharging of investors’ duties.

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Response to DWP Consultation on Occupational Pensions: Improving Disclosure of Costs, Charges and Investments

20 December 2017

The DWP consulted on proposals to guarantee pension savers the rights to  information about costs and charges incurred by their scheme, and where their money is being invested.

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NGO Recommendations for the EU Sustainable Finance Action Plan

4 December 2017

ShareAction has contributed a chapter to an anthology on sustainable finance developed by a coalition of non-governmental organisations and provides suggested next steps for EU policy on the legal duties of investors.

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Response to the FRC Consultation on Draft Amendments to the Strategic Report

24 October 2017

ShareAction responded to the Financial Reporting Council’s consultation on draft amendments to the guidance on the strategic report. Central to our recommendations was the call for the FRC to ask all companies to report against the key areas of non-financial information which are applicable across all sectors.

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Response to ESMA’s Consultation on Certain Aspects of the MiFID II Suitability Requirements

17 October 2017

In this consultation response to the European Securities and Markets Authority, ShareAction argues for the inclusion of the non-financial interests of retail investors in how advisers go about ascertaining the interests of their clients.

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Update on the Interpretation of Fiduciary Duty in the UK

12 October 2017

In this joint briefing, we set out the reasons why the Government and the FCA should accept the Law Commission’s latest recommendations to amend the law on fiduciary duty.

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Reforming the Investment System to Promote Good Work

11 October 2017

The investment system has a vital role to play in ensuring good working conditions in the UK and throughout the world. This briefing outlines how regulatory change and specific policy developments can facilitate that role.

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Reforming the Investment System to Secure a Low-Carbon Future

11 October 2017

The investment system has the potential to greatly influence the transition to a low-carbon economy. This briefing outlines how regulatory change and specific policy developments in the UK will nurture that potential.

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Response to CP17/18: Consultation on implementing asset management market study remedies and changes to Handbook

12 September 2017

ShareAction responded to the FCA’s consultation on some of the remedies to its asset management study. We are interested in the proposals to improve independence and transparency of fund managers.

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Response to the Questionnaire of the High Level Expert Group on Sustainable Finance

8 September 2017

Responding to the High Level Expert Group’s interim report on sustainable finance in July, ShareAction submits its concrete recommendations to inform the Group’s final report expected by the end of 2017.

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Response to FCA on Proposal to Create a New Premium Listing Category

1 September 2017

ShareAction is submitting a response to the FCA’s consultation on creating a new premium listing category for state-owned enterprises. We have answered all questions bar 7, 9, and 11.

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The Role of the European Securities and Markets Authority in Sustainable Finance – Cover letter

23 May 2017

This letter was sent to the European Securities and Markets Authority (ESMA) to encourage reflection on its role in sustainable finance. It accompanies a briefing published on the same day.

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The Role of the European Securities and Markets Authority in Sustainable Finance

23 May 2017

This briefing sets out six actions that ESMA should undertake as part of its mandate to protect investors and avert financial instability, to facilitate the integration and management of climate and sustainability risks.

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Public consultation on the operations of the European Supervisory Authorities

23 May 2017

The work of ESAs will be especially significant in the context of Brexit. Our submission focused on supervisory convergence, fiduciary duty, credit-rating agencies, and the centrality of sustainability to financial stability.

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Green Paper on Security and Sustainability in Defined Benefit Pension Schemes

12 May 2017

ShareAction submitted a consultation response to the Department of Work and Pension (UK) regarding the Green Paper on Security and Sustainability in Defined Benefit Pension Schemes, focusing on questions two and three.

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BEIS Industrial Strategy Green Paper

13 April 2017

ShareAction submitted a response to the Green Paper on Building our Industrial Strategy, focusing on questions relating to factors constraining companies and fund managers from making longer-term investment decisions.

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Stronger Stewardship, Stronger Business: Lessons from ShareAction’s survey

5 April 2017

This briefing highlights recommendations for UK policymakers to improve institutional shareholders’ stewardship of companies, based on the findings of ShareAction’s 2017 survey of European Asset Managers.

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Building a Resilient and Sustainable Europe: Lessons from ShareAction’s survey

5 April 2017

This briefing highlights recommendations for European policymakers to improve institutional shareholders’ stewardship of companies, based on the findings of ShareAction’s 2017 survey of European asset managers.

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Department for Work and Pensions – Initial Questions for the Review of Automatic Enrolment

23 March 2017

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European Commission – Capital Markets Union: Midterm Review

22 March 2017

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Financial Conduct Authority – Asset Management Market Study: Interim Report

22 March 2017

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Department for Business, Energy & Industrial Strategy – Green Paper on Corporate Governance Reform

22 March 2017

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Letter to DG FISMA on IORPS

8 March 2017

This letter was sent to DG FISMA of the European Commission to make the case for guidance on how ESG relates to the fiduciary duties of investors in the context of the IORPs Directive.

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Capital Markets Union Mid-Term Review 2017

21 February 2017

This briefing paper, produced with WWF and four other civil society organisations, sets out key recommendations for sustainable finance for the Capital Markets Union Mid-Term Review in June 2017.

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Institutions for Occupational Retirement (IORPs) Directive – Significant Progress on Responsible Investment

13 January 2017

A political agreement has been reached on the EU Institutions for Occupational Retirement Directive that includes important responsible investment measures on environmental, social and governance factors.

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Event Summary: “Brexit: An opportunity to create a more sustainable financial system and Capital Markets Union?”

20 December 2016

The UK’s decision to leave the EU presents opportunities and challenges for responsible investors. This is a report of an event we ran for civil society leaders which explored the responsible investment issues around Brexit.

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Joint Briefing – Shareholder Rights Directive

8 November 2016

This briefing paper, produced with WWF and 4 other civil society groups, explains why the current update to the EU’s Shareholder Rights Directive should include more ambitious measures on responsible investment.

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The Department for Work and Pensions – Defined benefit pensions inquiry

10 October 2016

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The Department for Work and Pensions – NEST: Evolving for the Future

5 October 2016

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The Pensions Regulator – 21st Century Trusteeship and Governance paper

12 September 2016

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New UK Pensions Regulator code of practice: a step forward for responsible investment

1 September 2016

The UK Pensions Regulator has published a new code of practice that strengthens guidance on the consideration of environmental, social and governance risks in pension fund investments.

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The Pensions Regulator – Consultation on guides to support Code of Practice 13

13 May 2016

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Department for Business Innovation and Skills – Consultation on non-financial reporting

6 May 2016

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European Commission – Non-binding guidelines for reporting of non-financial information by companies

15 April 2016

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European Commission, DG Justice and Consumer Affairs – consultation on long-term and sustainable investment

15 March 2016

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Department for Communities & Local Government – Revoking and replacing the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2009

19 February 2016

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Letter to EU Permanent Representation on IORPs

18 February 2016

This letter was sent to the Financial Services Attachés in each EU Member State’s Representation making the case for responsible investment criteria to be included in the IORPs Directive.

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Financial Reporting Council, Draft Plan & Budget and Levy Proposals 2016/17

12 February 2016

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The Pensions Regulator – Governance and administration of occupational defined contribution trust-based schemes

29 January 2016

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10 Steps to a Sustainable Investment Sector

1 December 2015

This briefing provides ten steps to develop a sustainable investment system, based on giving savers a voice, clarifying fiduciary duties and strengthening the UK Stewardship Code.

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Better Workplace Pensions: Reducing Regulatory Burdens

1 December 2015

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Letter to MEPs in the Economic and Monetary Affairs Committee on IORPs

24 November 2015

This letter was sent to MEPs before to make the case for Responsible Investment criteria to be included in the IORPs Directive.

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HM Treasury Consultation on Strengthening the Incentive to Save

1 September 2015

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Closing the Gender Pay Gap Consultation

1 September 2015

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The OFT’s Report on the Defined Contribution Pensions Market

1 September 2015

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Proposed Revisions to the EU Institutions for Occupational Retirement Provision (IORP) Directive

1 September 2015

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European Commission plans for a Capital Markets Union

1 June 2015

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European Commission Green Paper on a Capital Markets Union

1 May 2015

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FCA and DWP Call for Evidence on Transaction Costs disclosure

1 May 2015

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Response to consultation on changes to the Investment Regulations following the Law Commission’s report “Fiduciary Duties of Investment Intermediaries

1 April 2015

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Proposed Revisions to the EU Shareholder Rights Directive

1 April 2015

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DWP consultation on ‘Better workplace pensions: Putting savers’ interests first’

1 November 2014

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House of Commons Work and Pensions Committee inquiry on progress with automatic enrolment and pension reforms

1 October 2014

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ShareAction’s Response to FCA Consultation CP14/16: Proposed Rules for Independent Governance Committees

1 October 2014

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A Manifesto for Responsible Investment

1 July 2014

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HM Treasury consultation on Freedom and Choice in Pensions

1 June 2014

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DWP consultation on Quality standards in workplace defined contribution pension schemes

1 May 2014

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Law Commission Consultation on Fiduciary Duties of Investment Intermediaries: Response from ShareAction

1 January 2014

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BIS consultation on Corporate Responsibility

1 September 2013

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DWP Call for Evidence: Quality Standards in Workplace Defined Contribution Pension Schemes

1 September 2013

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BIS consultation on Transparency & Trust: Enhancing the transparency of UK company ownership and increasing trust in UK business

1 September 2013

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NAPF Stewardship Disclosure Framework Consultation

1 July 2013

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Law Commission Stakeholder Paper on Investors’ Fiduciary Duties

1 June 2013

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Pensions Bill 2013: An opportunity to raise standards

1 June 2013

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Queen’s Speech 2013: The future of pensions

1 May 2013

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OECD’s Consultation on Draft High-Level Guidelines for Long-Term Investment

1 May 2013

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FCA’s Discussion Paper 13/1 on transparency

1 April 2013

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DWP consultation on The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

1 April 2013

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Written Evidence to BIS Select Committee Inquiry into the Kay Review

1 January 2013

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The Missing Link: Lessons from the ‘Shareholder Spring’

1 January 2013

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Response to the FSA’s ‘Journey to the FCA’ document

1 December 2012

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Response to BIS Consultation on Draft Narrative Reporting Regulations

1 November 2012

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Final Report of the Kay Review of UK Equity Markets

1 August 2012

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Suggested Reviews: Review of the UK Stewardship Code

1 July 2012

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Review of the UK Stewardship Code

1 July 2012

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Lessons from LIBOR: Wider implications of the rate-fixing scandal

1 July 2012

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Executive Pay: Analysis of the government’s reforms

1 June 2012

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Financial Services Bill: Briefing for peers on Lords Amendment 107

1 June 2012

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Red Tape Challenge – Social Investment

1 June 2012

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‘Your Say on Pay’ Campaign

1 May 2012

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HM Treasury’s inquiry into corporate governance and remuneration

1 May 2012

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Queen’s Speech Briefing

1 May 2012

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Written Evidence: DWP Select Committee’s inquiry into governance and best practice in workplace pensions

1 April 2012

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Written Evidence: Kay Review of UK Equity Markets and Long-termism

1 April 2012

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BIS Consultation ‘Executive Pay: Enhanced Shareholder Voting Rights’

1 April 2012

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The Enlightened Shareholder: Clarifying investors’ fiduciary duties

1 March 2012

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DWP Consultation, ‘Improving transfers and dealing with small pension pots’

1 March 2012

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HM Treasury Consultation, ‘Bank Executive Remuneration Disclosure’

1 February 2012

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Financial Services Bill: Second Reading Briefing

1 February 2012

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BIS/FRC Consultation, ‘Proposals to reform the Financial Reporting Council’

1 January 2012

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Securing Jobs and Growth: Can pension savings aid the economic recovery?

1 January 2012

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EIOPA Consultation on the IORP Directive

1 December 2011

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BIS Discussion Paper on Executive Remuneration

1 November 2011

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Kay Review of UK equity markets, ‘Call for Evidence’

1 November 2011

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BIS Consultation, ‘The future of narrative reporting: consulting on a new reporting framework’

1 November 2011

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Big Society Capital: Unlocking mainstream finance for social impact investment

1 October 2011

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The Governance Gap: Ensuring a level playing field for pension savers

1 September 2011

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HM Treasury’s Consultation, ‘A new approach to financial regulation: the blueprint for reform’

1 September 2011

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DWP Select Committee’s inquiry on auto-enrolment

1 August 2011

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European Commission Green Paper, ‘The EU Corporate Governance Framework’

1 July 2011

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Financial Reporting Council’s Consultation, ‘Gender Diversity on Boards’

1 July 2011

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DEFRA, ‘Corporate reporting of greenhouse gas emissions’

1 June 2011

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JustPay! Living Wage Campaign

1 May 2011

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Protecting our Best Interests: Rediscovering Fiduciary Obligation

1 May 2011

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Dept for Work and Pensions’ Consultation, ‘Regulatory differences between occupational and workplace personal pensions’

1 April 2011

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The Pensions Regulator’s Consultation, ‘Enabling good member outcomes in work-based pension provision’

1 April 2011

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HM Treasury’s Consultation, ‘Reforming Financial Regulation: Building a Stronger System’

1 April 2011

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Financial Reporting Council’s Consultation, ‘Effective Company Stewardship’

1 March 2011

Joint Submission with Client Earth

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The 2011 Budget and Plan for Growth

1 March 2011

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Charity Commission Consultation, ‘Charities and Investment Matters’

1 February 2011

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Submission: BIS Consultation, ‘A Long-term Focus for Corporate Britain’

1 January 2011

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Mandatory carbon reporting: A litmus test for the ‘greenest government ever’

1 November 2010

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Ministry of Justice Consultation, ‘Guidance about commercial organisations preventing bribery’

1 November 2010

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Scottish Executive Consultation, ‘Public Bodies Climate Change Duties: Putting them Into Practice’

1 November 2010

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BIS Consultation, ‘The future of narrative reporting’

1 October 2010

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HM Treasury Consultation, ‘A new approach to financial regulation: Judgement, focus, stability’

1 October 2010

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Investor Stewardship

1 September 2010

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The Operating and Financial Review: Improving Company Reporting on Environmental & Social Risk

1 September 2010

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European Commission Green Paper, ‘Corporate Governance in Financial Institutions and Remuneration Policies’

1 August 2010

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Financial Services Authority’s Quarterly Consultation (proposals relating to Stewardship Code)

1 August 2010

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Managing Environmental Risk: The Deepwater Oil Spill & its Impact on UK pensions

1 June 2010

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Coalition Programme for Government

1 May 2010

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The FRC Stewardship Code

1 May 2010

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Building a sustainable financial system: institutional investors and climate change

1 May 2010

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Financial Services Authority’s Consultation on Effective Corporate Governance

1 April 2010

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Responsible Investment: an Introduction

1 January 2010

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DEFRA Reporting Guidelines for Greenhouse Gas Emissions

1 December 2009

(Joint Submission with Christian Aid and Oxfam)

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The Walker Review of Corporate Governance in UK Banks and Other Financial Industry Entities

1 September 2009

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The Pensions Regulator – Ideas & Evidence on Responsible Ownership

1 July 2009

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Personal Accounts Delivery Authority Investment Consultation

1 May 2009

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DWP Consultation on Pension Scheme Disclosure

1 May 2009

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Pensions Regulator Consultation on Refreshed TKU Code of Practice and Scope Guidance

1 December 2008

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Draft OECD Guidelines for Pension Fund Governance

1 September 2008

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