Brunel stewardship policy recommends divestment as “last resort”
0LGPS pool Brunel Pensions Partnership has outlined its strategy for influencing the environmental, social and governance behaviors of companies in which it holds shares.
The pool has this week published its 39-page stewardship policy document, which covers all asset classes.
The strategy outlines an intention to influence companies in areas including climate change, supply chains, human capital, diversity and tax transparency.
The document outlines an “escalation route” starting with alerting companies to areas of concern through letters and face-to-face meetings.
It said: “Where a company board is unresponsive and not already part of a collaborative engagement we will reach out to other investors. Addressing AGMs together with voting is an intrinsic part of the escalation process, including co-filing of shareholder resolutions.
“A recommendation to divest will be the last resort, but appropriate if we believe the risk to long-term shareholder value is being undermined.”
