Financial Reporting Council UK Stewardship Code
The Financial Reporting Council Stewardship Code (opens in a new window) includes seven principles for good practice for owners of shares. As part of NEST’s commitment to the code we publish a Statement of compliance (PDF) setting out how we adhere to the seven principles.
Principles for Responsible Investment
NEST is a signatory to the UN-backed Principles for Responsible Investment (PRI) (opens in a new window). The principles encourage consistent standards for responsible investment around the world.
Royal London Asset Management
Royal London Asset Management (previously The Co-operative Asset Management) and Manifest the proxy voting agency They’ve helped us develop our approach and policies around responsible investment and active ownership.
These partnerships now focus on executing and delivering these policies in the form of direct corporate engagements and voting. We also work with RLAM and Manifest to share information and knowledge on industry developments.
Carbon Disclosure Project
NEST uses CDP data (opens in a new window) to evaluate climate risks as well as the opportunities. These could impact companies’ operations and financial performances and therefore our members’ returns. CDP’s data can help us to identify the largest carbon risks in our portfolio across various sectors.
Institutional Investors Group on Climate Change (IIGCC)
Being part of the IIGCC (opens in a new window) keeps NEST updated on the developments in EU and international climate and energy policy. It also supports our work on climate risk and engagement. In 2015 we co-signed a letter to 60 high risk companies, asking them to disclose their positions on climate and energy policy and their lobbying activities.
Working with standard setters
We support good corporate behaviour by working with regulators and standard setters. Better standards across markets mean our members can benefit from higher standards in all the companies we invest in on their behalf.
We’ve engaged with regulators including the Financial Reporting Council (FRC), the Department for Business Innovation and Skills (BIS) and the Department for Work and Pensions (DWP).
Responding to consultations
As part of NEST's commitment to acting as a responsible asset owner and active market participant, we respond to relevant national and international consultations on issues such as corporate governance that have the potential to impact the investments we make on behalf of our members. We publish these responses as appropriate.
Auditor Regulation (PDF)
The future of narrative reporting - a response to the Department for Business Innovation & Skills (PDF)
Directors’ pay – Consultation on revised remuneration reporting regulations (PDF)
Gender imbalance in corporate boards in the EU - A response to the European Commission’s public consultation May 2012 (PDF)
Revisions to the UK Stewardship Code - a response to the FRC consultation (PDF)
Revisions to the UK Corporate Governance Code and Guidance on Audit Committees - a response to the FRC consultation (PDF)
Directors' Remuneration - A response to the FRC consultation on amendments to the UK Corporate Governance Code (PDF)