ABOUT THE CODE
The Australian Asset Owners Stewardship Code (Code) aims to increase the transparency and accountability of stewardship activities in Australia.
Stewardship refers to the responsibility asset owners have to exercise their ownership rights to protect and enhance long-term investment value for their beneficiaries by promoting sustainable value creation in the companies in which they invest.
The Code is principles-based which allows asset owners to approach stewardship in a manner that is consistent with the spirit of the principles and reflective of their size, resourcing, membership and investment policies.
Signatories to the Code are required to disclose their approach and outcomes regarding key stewardship activities: voting, engagement, policy advocacy and the selection, appointment and monitoring of external asset managers.
The Code will make it easier for beneficiaries to see the work that is being done by asset owners on their behalf. It will also assist asset owners who are seeking to improve their stewardship practices. The ultimate goal is for Australian asset owners to take a leadership role in setting the tone for stewardship in Australia.
REQUIREMENTS FOR SIGNATORIES
While the Code is voluntary, asset owners who wish to become a signatory must:
Signatories must publish a Stewardship Statement for the period 1 July 2018 to 30 June 2019 by or before 30 September 2019. Early adoption is encouraged, and depending on the date of signing, initial Stewardship Statements may be for an earlier period or part year. Signatories should notify us if their statement is revised.
BECOMING A SIGNATORY
Asset owners who wish to become a signatory, may find it helpful to undertake the following steps:
LIST OF SIGNATORIES