The Varieties of Investor Stewardship

The King’s Global Investor Stewardship group is pleased to announce its 2024 conference, focusing on the theme of The Varieties of Investor Stewardship.

Scheduled for Tuesday, 30 April 2024 at Bush House (Strand campus), The Varieties of Investor Stewardship conference promises a full day of engaging panels and networking opportunities, bringing together a diverse array of voices from stewardship practice, policymakers, and academia. 

Originally rooted in shareholder engagement at the firm-specific level, investor stewardship has involved into a multifaceted landscape, featuring by participation from numerous actors, including asset managers, asset owners, service providers, activist investors, investor associations, policymakers, standard setters, legal firms, NGOs, and more. These actors operate at various levels, spanning from micro (issuer-specific) to portfolio, market, and macro levels, engaging with a diverse range of assets, such as public equity, fixed income and infrastructure. Employing a range of means, from engagement to voting and litigation or exit strategies, they target a variety of themes, including systemic environmental, social and governance considerations, to serve both value-driven and values-driven objectives. Ultimately, the success of investor stewardship hinges on a robust level of trust and understanding between issuers and stewards, as well as a greater alignment of expectations at both the firm-specific and market levels.

The emerging varieties of investor stewardship present a complex tapestry that requires thorough examination and understanding. Through fostering dialogue and collaboration, the Varieties of Investor Stewardship conference aims to illuminate the state of the art in the practice of stewardship— and where it is heading amidst a changing UK political and economic landscape. This will include consideration of the purpose of stewardship itself, its governance by institutional investors, and issuers’ reactions to it. The conference will explore intricacies of contemporary stewardship policies, practices, reporting, metrics, and outcomes. It will delve into enquiries such as whether and how the different levels of stewardship complement or substitute each other, and how they intersect with the various objectives pursued. It will scrutinise how engagement and escalation unfold differently depending on the investment business model and the delegation of stewardship responsibilities. As an area of developing stewardship in newer asset classes, it will explore how stewardship is exercised in fixed income and sovereign bonds. Finally, a case study on the practices of stewardship in high emission sectors will bring the company perspective to the forefront.

Overall, the Varieties of Investor Stewardship conference will raise awareness of the evolving stewardship ecosystem and its implications for the broader financial ecosystem and society as a whole, and contribute to future policy directions.

The Conference will follow Chatham House Rules.

A special thank you to our funders, the British Academy, the ESRC Impact Acceleration Account, and The Dickson Poon School of Law School, for their invaluable contributions that make this event possible.

Agenda

08:45 Registration & coffee / tea

09:15 Re-imagining Investor Stewardship: Running Themes and Emerging Trends

Dionysia Katelouzou (Reader, King’s College London)

09:30 Exploring the Stewardship Ecosystem: Actors and Levels

Susan Hooper (Chair, Senior Director)

Shipra Gupta (Investments Stewardship Lead, Scottish Widows) 

Kimberley Lewis (Head of Active Ownership, Schroders)

Erica Serpico, (Director, Investment Stewardship, Vanguard)

Harlan Zimmerman (Senior Partner, Cevian Capital)

Moderator: George Dallas (Head of Content, European Corporate Governance

Institute)

10:45 Coffee Break

11:15 Varieties of Metrics, Targets and Outcomes in Investor Stewardship

Jennifer Law (Head of Stewardship, Newton Investment Management)

Diandra Soobiah (Head of Responsible Investment, Nest)

Nick Stansbury (Head of Climate Solutions, Legal & General Investment Management)

Alexis Wegerich (Head of ESG Analytics, Norges Bank Investment Management)

Moderator: Anna Tilba (Professor, Durham University)

12:30 Lunch

13:30 Varieties of Strategies in Investor Stewardship

Steven Friel (CEO, Woodsford)

Catriona Glascott (Lawyer, ClientEarth)

Gavin Grant (Head of Governance, Baillie Gifford)

Lewis Johnston (Director of Policy, ShareAction)

David Trenchard (David Trenchard Consulting Ltd.)

Moderator: Eva Micheler (Professor, LSE)

14:45 Applying the lessons: Stewardship in High Emission Sectors

Sofia Bartholdy (Responsible Investment Integration Director, Church Commissioners for England)

Bruce Duguid (Head of Stewardship, Federated Hermes EOS)

Ben Mathews (Company Secretary, BP)

John Teahan (Portfolio Manager and Partner, Redwheel)

Moderator: Tom Gosling (London Business School)

16:00 Coffee Break

16:30 Navigating Fixed Income and Sovereign Stewardship: Strategies, Outcomes, and Challenges

Eugenia Unanyants-Jackson (Global Head of ESG, PGIM)

Victoria Barron (Co-chair of ASCOR) 

Esther Law (Senior Portfolio Manager EM Debt and Responsible Investing Lead)

Magali Van Coppenolle (Global Head of Policy, Climate Bonds Initiative)

Moderator: Carmen Nuzzo (Executive Director Transition Pathway Initiative Centre, LSE)

17:45 Conclusion and Future Steps

18:00 Drinks Reception

Download the full programme