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Page 2 - Helen Wildsmith: An ‘Aiming for A’ update for UKSIF’s Ownership Day

This builds on discussions we had in Paris on the eve of the Oil & Gas Climate Initiative’s CEO-level meeting last autumn alongside BMO Global Asset Management EMEA and major French investors. Discussions continue with Eni, whose CEO spoke about the long-term strategic importance of gas and renewables at their strategy presentation last Friday. Much of this work extends to the Institutional Investors Group on Climate Change’s (IIGCC’s) corporate engagement group, which will have a resolutions sub-group ready for the 2017 AGM season. I’m honoured that I’ll be the first chair of this sub-group, and I am looking forward to co-ordinating across the current UK-based ‘Aiming for A’ core investor group, the major UK and continental European institutions who have encouraged their membership-body to take this step, and other institutional investors who are potentially interested in taking what has been learned over the last five years to other sectors in future AGM seasons.
Finally I think the most interesting AGM activity relating to the low carbon transition is likely to happen in the US this year.

As usual several resolutions have been filed, including transatlantic ones focusing on the 2 degree stress-testing at the heart of the ‘strategic resilience’ resolutions we filed in the UK in 2015 and 2016. Responsible Investor’s own voting declaration process this year will focus on the Exxon and Chevron AGMs, so watch this space if you’d like to declare your votes in early May for the resolutions that end up on these ballots after the Securities and Exchange Commission and related processes have finished. Keep up-to-date in the interim here.
Although Ownership Day is a UK initiative it is great to see collective stewardship flourishing across borders. On behalf of the ‘Aiming for A’ core group of nine UK-based investors (including Sarasin & Partners, the Pensions Trust and the Church of England’s Pensions Board) I’d like to end by thanking all our local and global collaborators. Your support is much appreciated, including your voting declarations ahead of this year’s AGMs.

Helen Wildsmith is Stewardship Director – Climate Change, CCLA Investment Management.

CCLA is sponsoring UKSIF’s Ownership Day conference.

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