The Financial Reporting Council (FRC) has launched a revised stewardship code – significantly raising its expectations on how money is invested. In particular, the new code aims to establish a clear benchmark for stewardship as the responsible allocation, management and oversight of capital to create long-term value for clients and beneficiaries...
The UK's Financial Reporting Council (FRC) will urge businesses to take environmental, social and governance (ESG) factors into account in their business operations and investments. When it publishes its new Stewardship Code in January, signatories will also be expected to demonstrate how stewardship has been applied across all asset classes, not simply domestic listed equities. "The UK is a global leader when it comes to environmental stewardship," said the FRC's chief executive, David Willetts.