All policy resources
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.
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.
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.
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).
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.
Pension Schemes Bill 2019-20: A ShareAction briefing
16 March 2020
ShareAction outlines the key changes we wish to see to the Pension Schemes Bill 2019-20.
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.
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.
General Election 2019: ShareAction Manifesto Asks
4 November 2019
This briefing outlines ShareAction’s core asks ahead of the 2019 UK General Election.
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.
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.
Response to Treasury inquiry on green finance
2 August 2019
ShareAction responds to the Treasury’s consultation on how to decarbonise the UK economy at the pace required of the climate crisis.
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.
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.
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.
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.
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.
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.
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.
Will Employees Benefit?
12 February 2019
We evaluate the climate-risk management of 25 FTSE pension schemes and offer recommendations for improvement.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Department for Work and Pensions – Initial Questions for the Review of Automatic Enrolment
23 March 2017
European Commission – Capital Markets Union: Midterm Review
22 March 2017
Financial Conduct Authority – Asset Management Market Study: Interim Report
22 March 2017
Department for Business, Energy & Industrial Strategy – Green Paper on Corporate Governance Reform
22 March 2017
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.
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.
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.
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.
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.
The Department for Work and Pensions – Defined benefit pensions inquiry
10 October 2016
The Department for Work and Pensions – NEST: Evolving for the Future
5 October 2016
The Pensions Regulator – 21st Century Trusteeship and Governance paper
12 September 2016
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.
The Pensions Regulator – Consultation on guides to support Code of Practice 13
13 May 2016
Department for Business Innovation and Skills – Consultation on non-financial reporting
6 May 2016
European Commission – Non-binding guidelines for reporting of non-financial information by companies
15 April 2016
European Commission, DG Justice and Consumer Affairs – consultation on long-term and sustainable investment
15 March 2016
Department for Communities & Local Government – Revoking and replacing the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2009
19 February 2016
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.
Financial Reporting Council, Draft Plan & Budget and Levy Proposals 2016/17
12 February 2016
The Pensions Regulator – Governance and administration of occupational defined contribution trust-based schemes
29 January 2016
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.
Better Workplace Pensions: Reducing Regulatory Burdens
1 December 2015
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.
HM Treasury Consultation on Strengthening the Incentive to Save
1 September 2015
Closing the Gender Pay Gap Consultation
1 September 2015
The OFT’s Report on the Defined Contribution Pensions Market
1 September 2015
Proposed Revisions to the EU Institutions for Occupational Retirement Provision (IORP) Directive
1 September 2015
European Commission plans for a Capital Markets Union
1 June 2015
European Commission Green Paper on a Capital Markets Union
1 May 2015
FCA and DWP Call for Evidence on Transaction Costs disclosure
1 May 2015
Response to consultation on changes to the Investment Regulations following the Law Commission’s report “Fiduciary Duties of Investment Intermediaries
1 April 2015
Proposed Revisions to the EU Shareholder Rights Directive
1 April 2015
DWP consultation on ‘Better workplace pensions: Putting savers’ interests first’
1 November 2014
House of Commons Work and Pensions Committee inquiry on progress with automatic enrolment and pension reforms
1 October 2014
ShareAction’s Response to FCA Consultation CP14/16: Proposed Rules for Independent Governance Committees
1 October 2014
A Manifesto for Responsible Investment
1 July 2014
HM Treasury consultation on Freedom and Choice in Pensions
1 June 2014
DWP consultation on Quality standards in workplace defined contribution pension schemes
1 May 2014
Law Commission Consultation on Fiduciary Duties of Investment Intermediaries: Response from ShareAction
1 January 2014
BIS consultation on Corporate Responsibility
1 September 2013
DWP Call for Evidence: Quality Standards in Workplace Defined Contribution Pension Schemes
1 September 2013
BIS consultation on Transparency & Trust: Enhancing the transparency of UK company ownership and increasing trust in UK business
1 September 2013
NAPF Stewardship Disclosure Framework Consultation
1 July 2013
Law Commission Stakeholder Paper on Investors’ Fiduciary Duties
1 June 2013
Pensions Bill 2013: An opportunity to raise standards
1 June 2013
Queen’s Speech 2013: The future of pensions
1 May 2013
OECD’s Consultation on Draft High-Level Guidelines for Long-Term Investment
1 May 2013
FCA’s Discussion Paper 13/1 on transparency
1 April 2013
DWP consultation on The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013
1 April 2013
Written Evidence to BIS Select Committee Inquiry into the Kay Review
1 January 2013
The Missing Link: Lessons from the ‘Shareholder Spring’
1 January 2013
Response to the FSA’s ‘Journey to the FCA’ document
1 December 2012
Response to BIS Consultation on Draft Narrative Reporting Regulations
1 November 2012
Final Report of the Kay Review of UK Equity Markets
1 August 2012
Suggested Reviews: Review of the UK Stewardship Code
1 July 2012
Review of the UK Stewardship Code
1 July 2012
Lessons from LIBOR: Wider implications of the rate-fixing scandal
1 July 2012
Executive Pay: Analysis of the government’s reforms
1 June 2012
Financial Services Bill: Briefing for peers on Lords Amendment 107
1 June 2012
Red Tape Challenge – Social Investment
1 June 2012
‘Your Say on Pay’ Campaign
1 May 2012
HM Treasury’s inquiry into corporate governance and remuneration
1 May 2012
Queen’s Speech Briefing
1 May 2012
Written Evidence: DWP Select Committee’s inquiry into governance and best practice in workplace pensions
1 April 2012
Written Evidence: Kay Review of UK Equity Markets and Long-termism
1 April 2012
BIS Consultation ‘Executive Pay: Enhanced Shareholder Voting Rights’
1 April 2012
The Enlightened Shareholder: Clarifying investors’ fiduciary duties
1 March 2012
DWP Consultation, ‘Improving transfers and dealing with small pension pots’
1 March 2012
HM Treasury Consultation, ‘Bank Executive Remuneration Disclosure’
1 February 2012
Financial Services Bill: Second Reading Briefing
1 February 2012
BIS/FRC Consultation, ‘Proposals to reform the Financial Reporting Council’
1 January 2012
Securing Jobs and Growth: Can pension savings aid the economic recovery?
1 January 2012
EIOPA Consultation on the IORP Directive
1 December 2011
BIS Discussion Paper on Executive Remuneration
1 November 2011
Kay Review of UK equity markets, ‘Call for Evidence’
1 November 2011
BIS Consultation, ‘The future of narrative reporting: consulting on a new reporting framework’
1 November 2011
Big Society Capital: Unlocking mainstream finance for social impact investment
1 October 2011
The Governance Gap: Ensuring a level playing field for pension savers
1 September 2011
HM Treasury’s Consultation, ‘A new approach to financial regulation: the blueprint for reform’
1 September 2011
DWP Select Committee’s inquiry on auto-enrolment
1 August 2011
European Commission Green Paper, ‘The EU Corporate Governance Framework’
1 July 2011
Financial Reporting Council’s Consultation, ‘Gender Diversity on Boards’
1 July 2011
DEFRA, ‘Corporate reporting of greenhouse gas emissions’
1 June 2011
JustPay! Living Wage Campaign
1 May 2011
Protecting our Best Interests: Rediscovering Fiduciary Obligation
1 May 2011
Dept for Work and Pensions’ Consultation, ‘Regulatory differences between occupational and workplace personal pensions’
1 April 2011
The Pensions Regulator’s Consultation, ‘Enabling good member outcomes in work-based pension provision’
1 April 2011
HM Treasury’s Consultation, ‘Reforming Financial Regulation: Building a Stronger System’
1 April 2011
Financial Reporting Council’s Consultation, ‘Effective Company Stewardship’
1 March 2011
Joint Submission with Client Earth
The 2011 Budget and Plan for Growth
1 March 2011
Charity Commission Consultation, ‘Charities and Investment Matters’
1 February 2011
Submission: BIS Consultation, ‘A Long-term Focus for Corporate Britain’
1 January 2011
Mandatory carbon reporting: A litmus test for the ‘greenest government ever’
1 November 2010
Ministry of Justice Consultation, ‘Guidance about commercial organisations preventing bribery’
1 November 2010
Scottish Executive Consultation, ‘Public Bodies Climate Change Duties: Putting them Into Practice’
1 November 2010
BIS Consultation, ‘The future of narrative reporting’
1 October 2010
HM Treasury Consultation, ‘A new approach to financial regulation: Judgement, focus, stability’
1 October 2010
Investor Stewardship
1 September 2010
The Operating and Financial Review: Improving Company Reporting on Environmental & Social Risk
1 September 2010
European Commission Green Paper, ‘Corporate Governance in Financial Institutions and Remuneration Policies’
1 August 2010
Financial Services Authority’s Quarterly Consultation (proposals relating to Stewardship Code)
1 August 2010
Managing Environmental Risk: The Deepwater Oil Spill & its Impact on UK pensions
1 June 2010
Coalition Programme for Government
1 May 2010
The FRC Stewardship Code
1 May 2010
Building a sustainable financial system: institutional investors and climate change
1 May 2010
Financial Services Authority’s Consultation on Effective Corporate Governance
1 April 2010
Responsible Investment: an Introduction
1 January 2010
DEFRA Reporting Guidelines for Greenhouse Gas Emissions
1 December 2009
(Joint Submission with Christian Aid and Oxfam)
The Walker Review of Corporate Governance in UK Banks and Other Financial Industry Entities
1 September 2009
The Pensions Regulator – Ideas & Evidence on Responsible Ownership
1 July 2009
Personal Accounts Delivery Authority Investment Consultation
1 May 2009
DWP Consultation on Pension Scheme Disclosure
1 May 2009
Pensions Regulator Consultation on Refreshed TKU Code of Practice and Scope Guidance
1 December 2008
Draft OECD Guidelines for Pension Fund Governance
1 September 2008