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What's New?
February 2015
Final phase of industry engagement on fiduciary duty imminent
Editor's Pick
Ownership Day 2015 - what's happening?
Get involved 


 
What you are saying about us...
Member Survey 2014 results and Member Survey 2015 launch
Other news...

Employment and the circular economy: job creation in a more resource efficient Britain - Green Alliance and WRAP report

What do companies report? - Vigeo study

UKSIF member Towers Watson enters stranded assets debate with advice for clients

TAM Ethical Launch No AMC ISA Offer

SRI-CONNECT passes 1,000 user mark in the UK & 3,000 users globally
UKSIF LinkedIn
UKSIF Twitter
UKSIF Website
UKSIF Email

For Your Action



Enter the Robin Cosgrove Prize for a chance to win $20,000
 
This  annual competition aims to encourage young people working in finance to be more aware of the significance of integrity, trust and ethics. Papers of up to 5,000 words are invited in English or French on the theme ‘Innovative Ideas of Ethics in Finance’. The Prize of $20,000 will be awarded to one or more winners.

Deadline is 15 April 2015. You must be under 35 to enter. Find out more here.

 
Member Survey 2015

Ensure our service is relevant and valuable by taking a few minutes to give your honest feedback to 17 simple questions by 1st March 2015.  Find the survey here. 

See the results of last years survey and how we improved our service in response to the feedback here. 
 
Tell investors about your SRI products or services

Help UKSIF to better promote them to potential investors and other key audiences by completing this easy 9 question survey.   
Welcome to new UKSIF members 

Kempen Capital Management (UK)
GES Investment Services
Aptus Wealth
Hughes Financial Services

We look forward to working with you for a more sustainable economy.
Final phase of industry engagement on fiduciary duty imminent

Editor's Pick
 
Please be aware that there will be a consultation on changing the Occupational Pension Scheme (Investment) Regulations later this month, offering us the chance to make significant progress in the regulatory treatment of ESG factors and stewardship. This is the first of two planned consultations in the final phase of the Kay review/Law Commission process. 

Why it matters
Feedback from the UKSIF membership has shown that uncertainty over the term “fiduciary duty” is regularly cited as a reason for adopting various courses of action that do not account for material long-term factors. The consultation taking place this month represents a significant opportunity for this to change.

Read more here or contact Fergus Moffatt for more information.
 

What you are saying about us...

We launched our first member survey in 2014 to gather honest member feedback on our work at UKSIF. Your concerns include accessibility of events and a lack of focus on retail investing but most (83%) were satisfied with the service and valued the quality of events and potential for joint policy action.

The team responded to these concerns and other feedback here. 

We want to continue ensuring our service is relevant and valuable so please take a few minutes to give your honest feedback to 17 simple questions by 1 March 2015.

Find the survey here. 
 

Ownership Day 2015 - what's happening?

First held in 2013, Ownership Day is an UKSIF initiative to raise awareness of the financial benefits of active ownership and encourage investors to value active ownership strategies. Ownership Day 2015 takes place on the 10 March.
 
This year, Ownership Day’s key event is a half-day conference primarily intended for asset owner trustees looking to learn more about best practice and new developments with regards to responsible investment and voting, reporting and engagement. The event will include the public launch of the Association of Member Nominated Trustee’s Red Line Initiative and a presentation by one of the authors of the recent ‘Guide to Responsible Investment reporting in Public Equity’ report. UKSIF will also be producing an associated guide for trustees.
 
There are still sponsorship opportunities available. Please contact lisa.stonestreet@uksif.org for more information.  



Employment and the circular economy: job creation in a more resource efficient Britain

New report

New research by Green Alliance and WRAP shows that greater resource efficiency can create significant net jobs for Britain in regions where unemployment is higher, and among low to mid skilled occupations, where a higher rate of job losses are projected for the future. 

See the study here following its launch in London on 20 January 2015. 
 

What do companies report? - Vigeo study

The second Vigeo study on the worldwide evolution of Corporate Responsibility reporting practices between 2008 and 2014 finds most listed companies have understood the importance of talking about their corporate responsibility.

Read more here.
 
UKSIF member Towers Watson enters stranded assets debate with advice for clients

"Towers Watson, the investment consultant that advises more than 1,000 pension funds and institutional investors around the world, has entered the ‘stranded assets’ debate with a guide to help clients navigate fossil fuel investment issues.

"The firm, which has more than $2trn (€1.75trn) of client assets under advice and which is also responsible for over $55bn of delegated and fiduciary assets worldwide, draws on work by the Carbon Tracker Initiative (CTI), the UK-based think tank which has done much to popularize the ‘stranded assets’ debate," reports Responsible Investor. Read the article in full here.

TAM Ethical Launch No AMC ISA Offer


TAM Ethical have launched a brand new ISA offer for ethical investors. For every new ISA opened within the Ethical product range between 1st January 2015 and 5th January 2016, investors can enjoy no annual management charge (AMC) for the first full year. See details here.

Benefits include participation in the You Give We Give charitable giving scheme in which, originally, TAM agreed to match every client’s donation with an equal percentage of their annual management charge (AMC) but now, TAM will contribute the same percentage of our total annual fees to the client’s chosen charity. Read more here.
 

SRI-CONNECT passes 1,000 user mark in the UK & 3,000 users globally

SRI-CONNECT (the online research network for SRI and Corporate Governance) now has over 3,000 active users.  1,000 of these come from the UK (and a further 1,000 from continental Europe and 1,000 from the rest of the world).  All SRI & CG professionals can register here and use the site for free.

SRI-CONNECT has also launched a
Global SRI Diary to source and publish details of the most significant SRI & CG research events globally.  It is free to submit details of events to events@sri-connect.com and the Diary is free to view.  It is hoped that the Diary will minimise conflict between events on popular dates and in popular locations.  

 

Policy Consultations and Updates

EU-level

Consultation on the Revision of the EU Emission Trading System (EU ETS) Directive

On 24 October 2014, the European Council agreed on the 2030 framework for climate and energy, including a binding domestic target for reducing greenhouse gas (GHG) emissions of at least 40% in 2030 as compared to 1990. To meet this target, the European Council agreed that the emissions in the EU Emission Trading System should be reduced, compared to 2005, by 43%. A reformed EU ETS remains the main instrument to achieve the emission reduction target. The cap will decline based on an annual linear reduction factor of 2.2% (instead of the current 1.74%) from 2021 onwards, to achieve the necessary emission reductions in the EU ETS. The European Council furthermore gave strategic guidance on several issues regarding the implementation of the emission reduction target, namely free allocation to industry, the establishment of a modernisation and an innovation fund, optional free allocation of allowances to modernise electricity generation in some Member States.

The purpose of the present stakeholder consultation is to gather stakeholders' views on these elements. This consultation focusses on issues not yet addressed in the consultations recently conducted for the 2030 Impact Assessment, the Impact Assessment for the carbon leakage list for 2015-2019 and the consultation conducted on post-2020 carbon leakage provisions.

Full details are here. Closes 16 March 2015.

Consultation on the list of proposed Projects of Common Interest - Energy

The objective of this consultation is to seek your views on the need for a gas or electricity project from an EU energy policy perspective bringing together security of supply, market integration, competition and sustainability.

Full details are here. Closes 13 March 2015

See what's planned for the EU here
: EU Planned Public Consultations


UK-level

Prudential Regulation Authority (PRA)
CP1/15 Assessing capital adequacy under Pillar 2
The PRA has launched a consultation on Pillar 2, which is intended to ensure that firms have adequate capital to support the relevant risks in their business. The consultation is relevant to banks, building societies and PRA-designated investment firms. Its purpose is to ensure that institutions have appropriate strategies, processes and mechanisms as well appropriate capital to  ensure coverage of their risks, to which they are or might be exposed, including those revealed by stress testing and risks institutions may pose to the financial system. Closes 17 April 2015

 
CP3/15 Solvency II: transitional measures and the treatment of participations
The PRA is also consulting on Solvency II, in respect of the implementation of certain transitional measures. Solvency II is the EU Directive that is attempting to bring together insurance regulation from across the EU. It requires insurance firms to have a buffer to cover the risk of their assets becoming insufficient to cover their liabilities. The paper also contains a draft supervisory statement on calculating the Solvency Capital Requirement. The proposals are relevant to all UK Solvency II firms. Closes 20 February 2015

Occupational Pension Scheme Regulations - update
The planned consultation to amend the Occupational Pension Scheme Regulations has been delayed to the 24th February. The consultation will last for four weeks and be far narrower in scope than had been announced by the Government. This consultation will focus on the reference to ‘social, environmental and ethical considerations’ in the OPSR to ensure it reflects the distinction between financial and non-financial factors, and on whether trustees should be required to state their policy on stewardship. It will not consider whether the regulations should include a statement to clarify that trustees ‘should consider any factors which may be material to financial interests of scheme members and beneficiaries, including long-term factors, and determine what weight should be attached to these factors in their investment decisions’. This will be considered further in a paper to be launched in June.

Get in touch with Fergus Moffatt for more information.


Contents

Click to view:

For Your Action!
UKSIF News
Policy Consultations & Updates
People Moves
Jobs
Events
Get in touch
 

UKSIF in the news

See here for UKSIF  media coverage.
 

People Moves

 
Victoria Barron has joined Newton Investment Management as Responsible Investment Analyst. She was previously Utilities Sector Lead at Hermes Investment Management.


    



Jobs

 

Account Manager, Investor Engagement, CDP
Closing date: 13 February 2015

Standards Program Officer, Climate Bonds Initiative
Closing date: 16 February 2015

Director of Campaigns, ShareAction
Closing date: 28 February 2015

ESG Analyst, Acre
Closing date: 23 March 2015

Senior Research Analyst: Financial Institutions Team, Trucost
Closing date: 3 March 2015

ESG Analyst, Global Responsible Investment Team, Aviva Investors
Closing date: ASAP

ESG Analysts, FTSE Group
Closing date: ASAP

Engagement Team Intern, Hermes Investment Management
Closing date: ASAP

ESG Research Sales Specialist, MSCI
Closing date: ASAP

Financial Adviser – Director, Virtuo Wealth Management
Closing date: ASAP



Events



UKSIF Events
   
Keep an eye on our website for the 2015 programme of UKSIF events,


Member & Partner Events

Contact us about events or to advertise a job.

Get in touch



UKSIF website 
UKSIF LinkedIn group 
Good Money Week website
Ethical Investment Association (EIA) website 


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Editor's Picks

Email info@uksif.org to suggest a stand-out UKSIF member project or achievement you think should be included as an 'Editor's Pick'. This section helps promote outstanding UKSIF member projects and achievements or highlight significant sector developments.

Jobs and Events

Advertise job vacancies & events here and on the UKSIF website by contacting us at Info@uks​if.org. This is a member-only service. Or register for events here events@uksif.org.

UKSIF in the media

Keep track of UKSIF's commentary and mentions in national and specialist media here.
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