rezonanz Contributes to Greenpeace Switzerland Study of Asset Managers' Stewardship Activities
On Tuesday, December 3rd, we hosted a webinar to delve into the methodology behind Voting for Sustainability and share more about our rezonanz offering. It was a pleasure to welcome a diverse audience of asset managers, pension funds, and responsible investment organizations.
To kick off the session, we posed two key questions to the audience:
-Should we disclose all asset managers' ranks in future iterations of Voting for Sustainability?
-Should we disclose all pension funds' ranks in future iterations?
The response was a resounding yes for both questions. While the consensus was clear, the reasoning behind it was varied—offering valuable insights into the priorities and expectations of our participants. A detailed breakdown of the results is provided below.
We are excited to announce our collaboration with Greenpeace Switzerland and a team from the ZHAW School of Management and Law on a groundbreaking study examining the investment stewardship activities of 14 major asset managers and their impacts on climate and biodiversity.
A Deep Dive into Stewardship Practices
Our contribution to the study entails a comprehensive analysis of asset managers' proxy voting behaviors. By combining extensive proxy voting records with our first-of-its-kind quantitative benchmarking methodology, we supported Greenpeace Switzerland's assessment of how these asset managers are using their voting power to influence corporate practices on critical environmental issues.
Custom Benchmarking for Meaningful Insights
To create a robust and objective benchmark, Greenpeace selected proposals from the 2023 Annual General Meeting (AGM) season that were highlighted by at least two of six leading responsible investment organizations:
- ShareAction
- Climate Action 100+
- Interfaith Center on Corporate Responsibility (ICCR)
- As You Sow
- Ceres
- Majority Action
This meticulous selection process focused the study on the most impactful climate and biodiversity-related proposals of 2023, ranging from shareholder proposals advocating for stronger environmental policies to board election votes critical from a sustainability perspective.
Key Findings and Implications
The study sheds light on the varying degrees of commitment among asset managers to address environmental challenges through active stewardship. By evaluating their voting records against the custom Greenpeace benchmark, the research highlights:
- Alignment with Environmental Goals: Identifying which asset managers are consistently voting in favor of proposals that promote sustainability or against board members failing to make progress with respect to their sustainability strategy.
- Areas for Improvement: Highlighting gaps where asset managers may need to enhance their stewardship strategies to better address climate and biodiversity issues.
- Investor Empowerment: Providing valuable insights for investors who wish to align their investments with environmental objectives.
Media Recognition and Impact
Our collaborative study has attracted significant media attention, underscoring its importance in the ongoing discourse on sustainable finance and responsible investment. Notable coverage includes:
- SRF Tagesschau: Switzerland's leading news program featured the study, emphasizing its relevance to national and global environmental efforts.
- Handelszeitung: The prominent Swiss business newspaper discussed the implications of the study for the financial industry and sustainable investing.
- Tages-Anzeiger: One of Switzerland's major daily newspapers highlighted the key findings and the need for stronger stewardship from asset managers.
A Step Forward in Sustainable Finance
This collaboration with Greenpeace Switzerland exemplifies our commitment to driving meaningful change in the investment industry through innovation andpartnership. By providing advanced analytics and unique voting benchmarks, we aim to break down informational barriers and empower responsible investors to make better decisions.
Looking Ahead
We believe that active ownership and transparent stewardship are crucial in addressing the pressing environmental challenges of our time. This study is not just a reflection of past actions but a call from Greenpeace to asset managers to intensify their efforts in promoting sustainability through their voting practices.
Get Involved
- Learn More About the Study: https://www.greenpeace.ch/static/planet4-switzerland-stateless/2024/06/b3be4a34-environmental-stewardship_profit-over-planet-asset-manager-rating-2024-greenpeace-switzerland.pdf
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- Connect with Us: Book a 15-minute intro call to discuss how we can support your stewardship goals.
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