LGIM publishes its annual Active Ownership report

On 31 March 2021, Legal & General Investment Management (LGIM) published its tenth annual Active Ownership report, outlining the actions taken by the investment firm on behalf of its clients across a range of ESG issues, with a particular focus on the near-term dangers posed by COVID-19 and the longer-term threat of climate change. The report gives clear examples of how LGIM exercised its voting rights in several key areas including diversity and income inequality.

The report highlights LGIM’s strong voting stance, with more votes cast in support of shareholder resolutions on diversity, human rights or climate change than the majority of its peers. In 2020, LGIM strengthened its disclosures with a new platform publishing voting decisions the day after the vote.

Two themes stand out in the report: active engagement and responsible investment. Over the course of 2020, LGIM increased company engagements by 21 per cent and continued to vote globally, opposing the election of more than 4,700 company directors, as it sought to effect positive change at companies in which it invests.

Introducing the report, Michelle Scrimgeour, CEO of LGIM, commented:

“We believe asset managers have a crucial role to play in tackling the challenges presented by this era of uncertainty, many of which have been heightened by the coronavirus. Participating in forums like the COP26 Business Leaders Group, ahead of the pivotal climate conference in Glasgow later this year, has emphasised to me the necessity of action – and the obstacles to it.

“Indeed, through our active engagement with companies, we seek to effect positive change in the businesses in which we invest and for society as a whole, in line with L&G Group’s vision of inclusive capitalism. In doing so, we are fulfilling our very purpose at LGIM: to create a better future through responsible investing.”

The full report can be accessed here.

Published 30 April, 2021

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