ICGN Stewardship Agenda, Seoul

25 February 2020
Day One
08:30 - 09:00
Registration and refreshments
09:00 - 09:15
Host Welcome
09:15 - 09:30
Participant Introductions
09:30 - 10:45
Module 1: Overview of Stewardship and Sustainability in theory and practice
  • Gain familiarity with the concept and purpose of investor stewardship
  • Trace how historic, cultural, political and economic drivers give rise to corporate governance and stewardship codes across different jurisdictions
  • ICGN Global Stewardship Principles: a global framework
  • Map the chain of investment from ultimate capital provider to target asset
  • ESG and the sustainability of sustainability
  • Access latest evidence on the business case for Stewardship and ESG as an investment factor in value and risk across asset classes
10:45 - 11:15
11:15 - 12:30
Module 2: Managing stewardship responsibilities and disclosures
  • Understand basic fiduciary duty principles
  • The asset chain and the ecosystem of stewardship
  • Start with the governance of the investment firm itself
  • Discuss the roles, resources, expectations, and goals of ESG professionals within investment organizations and their relations with other parts of the investment firm
  • Consider how effectively to report on stewardship activities
12:30 - 13:30
13:30 - 14:45
Module 3: Basic principles of corporate governance: what investors should expect from companies
  • What is corporate governance and why is it important?
  • Links to stewardship and the governance of sustainability
  • Differing models of governance: global perspective
  • Components of the governance “ecosystem”
  1. Board directors
  2. Executive management
  3. Investors
  4. Stakeholders
  5. Regulators
  • ICGN Global Governance Principles: focus on board effectiveness
  • Governance of sustainability: how directors oversee ESG factors as both risks and opportunities
  • What is the academic evidence about corporate governance?
14:45 - 15:15
15:15 - 16:15
Introduction to Stewardship in Practice: Volkswagen Case Study
26 February 2020
Day Two
09:00 - 09:30
Registration and refreshments
09:30 - 10:45
Module 4: ESG and investment decision-making
  • Evaluate methods of integrating ESG into investment for different asset classes
  • Assess the implications of ESG integration on asset pricing over different time frames
  • Appreciate the impact of ESG integration and shareowner engagement on investment objectives such as contributing to risk-adjusted financial returns, the institution’s reputation and the integrity of the market as a whole
  • Understanding of the challenges of ESG integration
  • Value the importance of a clear policy, a robust process and a focus on real outcomes
10:45 - 11:15
11:15 - 12:30
Module 5: How to conduct an ESG analysis of a company
  • Understand the financial rationale for incorporating ESG into valuation analysis
  • Identify and utilise ESG data, ratings and measurement tools
  • Build appreciation of macro industrial changes into risk assessments
  • Case study of ESG analysis
  • Overcome internal barriers to ESG analysis
12:30 - 13:15
13:15 - 14:30
Module 6: Effective stewardship in practice: monitoring, engaging and voting
  • Understand how stewardship activities fit within investment work
  • Gain practical insight into the issues confronting investors
  • Set realistic objectives for engagement grounded in investment considerations
  • Understand the tools available and the skills required for success
  • Evaluate outcomes
  • Understand the value of the vote
  • Appreciate the structure and complexity of the voting pipeline
14:30 - 15:00
15:00 - 17:00
Introduction to Stewardship in Practice: Volkswagen Case Study
17:00 - 17:15
Programme Summary