WPP remains UK Stewardship Code signatory

The Wales Pension Partnership (WPP) has announced it has remained a signatory to the UK Stewardship Code.

Consolidation was the WPP’s focus for 2022. It reviewed its RI policies and built on its processes to ensure its pooling arrangement better met the needs of beneficiaries.

There was more focus on oversight and challenge of providers, including undertaking deep dives into the climate and environmental, social and governance risks within its sub-funds.

Through its voting and engagement provider, Robeco, it voted on more than 10,500 different resolutions and undertook 280 individual company engagements.

WPP acknowledges that much work remains to be done and over the last 12 months, has appointed a dedicated RI resource to help build on its RI commitments and meet the demands of stakeholders.

The pool has also developed a sustainable active equity strategy and a range of private markets funds, where stewardship and climate risk have been a focal point. WPP will also focus on evaluating and communicating the progress it has helped to make on climate change over recent years.