APPENDICES
Appendices on where our delivery against the following commitments we’ve made can be found:
1. Purpose, strategy and cultureOur purpose, Our strategy, Our culture
2. Governance, resources and incentivesHow we are governed, Our team, resources and incentives
3. Conflicts of interestManaging our conflicts
4. Promoting well-functioning marketsThrough industry and public policy engagement, Through our manager research, Through our investment consulting
5. Supporting clients’ stewardshipThrough our investment consulting, Through our manager research
6. Review and assuranceHow we are governed
We produce a wide range of periodic communications for our clients. These are based on a range of topics and are purposefully designed for different investor types. We keep these under review to ensure that they remain timely and useful and cut through the noise to help our clients focus on what matters.
Method
Message
Relevant audience
The Responsible Reporter
A weekly newsletter providing a summary of developments in sustainable investment, and policy and regulations
All investor types
Thoughts From the Loft
A weekly email of the views of our CIO on financial markets and investment matters
Off the Cuff
A collection of short videos providing descriptions and insights into timely and sometimes complex topics
The Defined Contrarian
A quarterly summary providing news and our views on the DC pensions world
DC pension schemes
Investment Edge
A quarterly summary providing news and our views on the wealth management world
Wealth managers
LGPS Spotlight
A quarterly summary providing news and our views on the LGPS world
Local authorities and local government pension funds
Redington’s Market Musings
A monthly summary of financial markets and investment matters
We will often competitively tender with other investment consultancies when pitching for new business and therefore price our services accordingly. Fee satisfaction is also often discussed with clients as part of client service reviews and captured in wider feedback as discussed in the “Our Strategy” section.
We build appropriate internal checks and controls into all services we provide clients, including audit trails. Over recent years, some clients have applied their internal audit processes to our work for them in producing TCFD reports. These processes have helped us to clarify and streamline our approach and given us confidence that we are delivering with appropriately robust systems and structures.
Our involvement with industry bodies as described in the “Through Industry and Policy Engagement” section provides further assurance of our services through discussions on best practice and industry developments. Through actively participating in these industry bodies, we can test the quality of our work, ensure we remain at the leading edge, and seek continuously to improve our services.
1. Working with our clients to identify how climate change impacts the risks and opportunities for their portfolioThrough our investment consulting, Through our manager research
2. Highlighting the importance for both the economy and asset values of global decarbonisation on a Paris-aligned path and consistent with the goal of net zero by 2050Through our investment consulting
3. Empowering willing clients to make a meaningful contribution to the goals of the Paris agreement through investment practices that help drive real world emission reductionsThrough our investment consulting
4. Assessing, monitoring and engaging with asset managers on the integration of net zero ambitions in their independent investment decisions and stewardship, and reflecting this evaluation in our client recommendationsThrough our manager research
5. With respect to our fully discretionary services individually set goals consistent with the target setting framework of the Net Zero Asset Manager initiativeNote: Does not apply to Redington as we have no discretionary investment mandates (‘fiduciary management’)
6. Individually set emissions reduction targets across all our operational emissions consistent with Paris goalsHow we’re governed, Our Footprint
7. Where suitable net zero methodologies do not exist, work together for the benefit of our clients to address these challenges, seeking harmonised methodologiesThrough our investment consulting, Through our manager research, Through industry and policy engagement
8. Engage, independently or as a group, with regulators and policymakers, to facilitate the transition to net zero carbon emissionsThrough industry and policy engagement
9. Report progress by our firm against these commitmentsWhole report
1. Assist client objective-settingThrough our investment consulting
2. Identify climate solutionsThrough our manager research
3. Adopt and engage with industry frameworksThrough industry and policy engagement
4. Deliver effective climate stewardshipThrough our investment consulting, Through our manager research
5. Provide NZ default client adviceThrough our investment consulting
6. Manage own footprintOur own footprint
7. Collaborate with broader industryThrough industry and policy engagement
1. Firm wide climate expertise and commitmentOur team, resources and incentives
2. Individual consultant climate expertiseThrough our investment consulting
3. Tools and softwareOur team, resources and incentives
4. Thought leadership and policy advocacyThrough industry and public policy engagement
5. Assessment of investment managers and engagement with themThrough our manager research
In 2022, we were thrilled to become the first B Corp-certified UK investment consultant. We were delighted that our overall score on the B Impact Assessment was comfortably above the minimum threshold required for B Corp status – 96.6 compared to 80. As scores are updated every three years, we have included a summary of the scores achieved in 2022, when we certified. Further insights can be found in the relevant section of last year's Sustainable Investment & Impact Report, with progress made since this outlined in this report. As noted there, we recognise that our weakest score is with regard to customers; we believe this was down to a cautious approach in our completion of our assessment and are confident that we remain a fully client-focused business and deliver our services to client delight.
Overall score
Governance
Workers
Community
Environment
Customers
Average across all firms
50.9
B Corp minimum
80
Redington
96.6
22.8
36.4
23.7
10
3.6
Benchmark mean
103.1
15.8
30.6
17.2
7.1
32.1
Benchmark median
96.4
16.1
30.8
15.7
6.8
28.0
We’ve chosen B Corp firms based in the UK in the Investment Advisory category – which in practice is a mix of investment management firms, wealth managers and advisers – as a 32-strong group against which to benchmark our performance
