Investment stewardship in isolation is not enough to bring about change in the industry and asset managers must combine stewardship with investment engagement to effect change, according to Legal & General Investment Management's chief investment officer Sonja Laud.
Speaking on a panel at the Sustainable Investment Festival yesterday (15 June), Laud said historically, engagement would have sat within an asset manager's investment stewardship approach as this is what the firm's guidelines, voting principles and standards setting were based on, but added this is now insufficient. She said: "We are coming to the point where this might not quite get us to the level of change that we need and where we require support from investments that go into the details to engage with companies to effect the level of change; this is what I call our principles, our r...
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