United StatesGiven the increasing scale of environmental and social challenges and political uncertainty facing companies and issuers, we believe that our stewardship and advocacy activities are more important than ever.
In this report, we share highlights of our activities in 2025.
We draw on a broad stewardship and advocacy toolkit developed over more than two decades – from individual company outreach to shaping regulatory frameworks – and tailor our approach to the issue at hand and the outcomes being targeted. We can escalate our activity and, where obstacles prove hard to overcome, different levers can be pulled.
The combination of company engagement and policy advocacy, which we refer to as systematic stewardship, can help accelerate progress in areas that have proven historically challenging and which pose systemic risks. Our activities typically span over several years, reflecting the long-term nature of the challenges we are focused on.
We continue to organise our stewardship and advocacy work – and so this report – under four overarching themes: Climate, Nature, People and Governance. These longstanding priority areas are relevant and material to our companies and issuers, and we expect them to remain so for the foreseeable future.
For each, we include details of a prominent company engagement and significant advocacy activities undertaken in 2024. Examples of our systematic stewardship and collaborative engagements are also included, by theme.
Ultimately, stewardship and advocacy are twin levers that we can pull, as investors, to help companies and issuers navigate the risks and opportunities arising from the transition to a more sustainable economy.