Global Stewardship Forum Agenda

Tuesday, 26 November
08.30
Delegate Registration
09.00
Welcome Remarks
09.10
Latest Updates to the UK Stewardship Code
09.30
Evidencing company engagement outcomes

Many markets are turning attention towards the impact of stewardship activities on long-term corporate value through purposeful engagement.  The UK FRC is proposing disclosure of an ‘Annual Activities and Outcomes Report’ which could include case study examples of actual engagements, description of monitoring activities, voting records and decisions. How will this be adopted in practice? Is there an optimal engagement approach? How should successes – and failures – be evidenced and subject to what degree of public disclosure?

10.30
Aligning asset manager incentives with performance

This year, the EU Shareholder Rights Directive comes into effect requiring asset owners to disclose how their equity investment strategy is consistent with the profile and duration of their liabilities. This includes how they incentivise asset managers and how they make investment decisions based on financial and non-financial performance. What are leaders of investment institutions doing to ensure this is adopted in practice? Are asset owners adequately communicating their stewardship expectations to their managers? How is stewardship performance monitored and measured to align incentives with investment strategies and stewardship obligations?

11.35
Spotlight Sessions - TBC
12.20
Lunch
13.05
Spotlight Sessions - TBC
13.55
Case Study: ExxonMobil Engagement on Climate Change Disclosure - the power of firmly exercised stewardship

In 2017, in response to a collaborative investor engagement effort led by Edward Mason, ExxonMobil (reluctantly) published information on how it’s business model would be affected by global efforts to address energy demand and climate change. Over 60% of shareholders supported an AGM resolution to demand this disclosure despite opposition from the company. In this session, Edward will describe how he garnered peer support for the collaborative engagement approach leading up to the resolution and ultimate adoption by the company and the oil and gas industry as a whole

14.40
Networking Refreshment Break
15.00
Strengthening investor voting policies and rationale

Stewardship Codes around the world require disclosure of voting policies and actual voting results. Attention is now focusing on vote rationale and decision-making processes. To what extent do investors provide adequate vote disclosure? Do policies and practices differ depending on the nature of the resolution, geography or scale of holdings? How practical is it for investors to explain their voting decisions to companies ahead of AGMs? Do investors adequately disclose the extent to which they use proxy advisor research and the degree to which any recommendations are followed?

16.00 - 16:10
Closing Remarks

 

 

 

*Please note this programme is subject to change