Principle 7
Institutional investors should report periodically on their stewardship and voting activities.
Those that act as agents should regularly report to their clients details of how they have discharged their responsibilities. Such reports will be likely to comprise qualitative as well as quantitative information. The particular information reported, including the format in which details of how votes have been cast are presented, should be a matter for agreement between agents and their principals.
Transparency is an important feature of effective stewardship. Institutional investors should not, however, be expected to make disclosures that might be counterproductive. Confidentiality in specific situations may well be crucial to achieving a positive outcome.
Those that act as principals, or represent the interests of the end-investor, should report at least annually to those to whom they are accountable on their policy and its execution.
Those that sign up to this Code should consider obtaining an independent audit opinion on their engagement and voting processes having regard to the standards in AAF 01/061 and SAS 702. The existence of such assurance certification should be publicly disclosed.
The Co-operative Asset Management's approach to reporting
We continue to disclose to our clients, in a bespoke format if requested, qualitative and quantitative information on our engagement activities.
Our quarterly and annual Responsible Investment reports can be found at here.
Our parent company’s Group Sustainability report which is produced in line with AccountAbility's AA1000 Principles Standard, and it is assured using the AA1000 Assurance Standard. It is also reported in accordance with the Global Reporting Initiative (GRI) G3 guidelines, on which we achieve an A+ rating. The Group Sustainability report contains detailed information on voting and engagement activity from the Responsible Investment department.
www.co-operative.coop/corporate/sustainabilityIn addition, we await guidance from the ICAEW’s working group on an independent audit opinion.
