The 2022 Responsible Investment Aotearoa NZ Conference has seen the launch of New Zealand’s first Stewardship Code, which provides guiding principles for stewardship for responsible investors in New Zealand.
Chapman Tripp is delighted to be have been involved in the creation of the Stewardship Code, with Partners Penny Sheerin and Nicola Swan, and Special Counsel Emma Dale, providing legal expertise to the industry-led committee which has developed the Code over the last 18 months.
Chapman Tripp is proud to support Toitū Tahua: Centre for Sustainable Finance, Responsible Investment Association Australasia, and the investment community with the launch of the Code – and is excited to have been part of this combined effort, in setting clear standards of good industry practice for New Zealand’s future.
A Stewardship Code was recommended by the Aotearoa Circle’s Sustainable Finance Forum in its 2030 Roadmap for Action, which was published in late 2020. Penny Sheerin was a member of the Leadership Group for the Sustainable Finance Forum, and partner Emma Sutcliffe was involved in the Technical Working Group.
The Stewardship Code will be jointly managed by Toitū Tahua: Centre for Sustainable Finance and the Responsible Investment Association Australasia.
The Code’s nine principles guide investors to incorporate ESG matters in their investments; design and implement engagement policies; vote responsibly at shareholder meetings and disclose the nature and outcomes of their stewardship; as well as aiming for greater collaboration, including with policy makers.
The Code is voluntary, but signatories will be required to comply or explain their non-compliance. It has been launched with a number of founding signatories, who have committed to produce their first Stewardship Report by December 2024 and become stewardship leaders in New Zealand.
View the code and find out more information at www.stewardshipcode.nz.