2023 UK Stewardship Code Report

Building on last year’s report, we review our specific stewardship practices in 2023. We also highlight how our policy and procedures meet the requirements of the FRC’s UK Stewardship Code.

Stewardship is an important part of our ambition to be the most client-centric asset manager.

Our 2023 UK Stewardship Code Report details how we’re supporting good stewardship practices in the UK and beyond.

"At Invesco, we believe that effective stewardship goes beyond just managing assets. It involves active engagement and a commitment to long term, sustainable value creation for clients and beneficiaries. It also means adhering to the FRC’s UK Stewardship Code, which includes not only the transparent reporting of stewardship activities and outcomes, but also maintaining a strong dialogue with clients and stakeholders" Doug Sharp, Head of Invesco EMEA and Americas.

Report highlights

In 2023 we:

• Conducted more than 2,200 ESG engagements firm-wide
• Voted proxies for 9,619 companies in 72 markets.
  We executed our voting intentions at 12,780 shareholder (98.97% of eligible meetings). 
• Responded to market-wide risks, including promoting a well-functioning financial system, by working with other stakeholders, engaging with regulators and policymakers, and participating in relevant industry initiatives. We also outline examples of the actions that we took to:

-        respond to climate-related risks and geopolitical risks

-        ensure financial market integrity and resilience

-        keep pace with the digitalisation of financial markets as well as the application of artificial intelligence (AI) capabilities

-        fully operationalise our newly formed global public policy and strategic partnerships function

• Invested in our resources to support our stewardship practices by continuing to develop our proprietary ESG data analytics tools – ESGintel, FocusIntel, PROXYintel, and ESGCentral – and implement training to ensure they are used effectively.