UK’s Railpen Reports Progress on Key Stewardship Priorities

UK pension scheme manager Railpen has published details of progress on its four thematic stewardship priorities in its 2021 Stewardship report. One of the first wave of signatories to the 2020 UK Stewardship Code, Railpen has identified the climate transition, the worth of the workforce, responsible technology and sustainable financial markets as its key areas of focus for 2021-2025. The new report highlights Railpen’s engagement and voting record, public policy advocacy activities and engagement with the trustee board and its pension committees. Railpen acts as the investment manager of all UK railways pensions schemes and is responsible for the management of around £37 billion for more than 350,000 scheme members. According to the report, Railpen voted against, withheld, or abstained on at least one occasion in nearly 60% of the approximately 1,700 meetings it voted at in 2021.

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