Pension Protection Fund Responsible Investment Report 2020/21 29 Appendix Appendix 1 The information in this report is intended to meet the # UK Stewardship Code principle Report section Page reference reporting expectations against the FRC Stewardship 1 Signatories’ purpose, investment beliefs, strategy and culture enable Messages from our Chair, 5–6, 8 Code’s 12 principles. The table to the right describes how the report relates to the Code. stewardship that creates long-term value for clients and bene昀椀ciaries leading CEO and CIO; Purpose and to sustainable bene昀椀ts for the economy, the environment and society governance 2 Signatories’ governance, resources and incentives support stewardship Purpose and governance 9 3 Signatories manage con昀氀icts of interest to put the best interests of clients Purpose and governance 10 and bene昀椀ciaries 昀椀rst 4 Signatories identify and respond to market-wide and systemic risks to promote Engagement 21 a well-functioning 昀椀nancial system 5 Signatories review their policies, assure their processes and assess the Purpose and governance, 9, 11, 14, 17–19 e昀昀ectiveness of their activities ESG integration, Engagement 6 Signatories take account of client and bene昀椀ciary needs, and communicate the Key achievements, ESG 4, 11 activities and outcomes of their stewardship and investment to them integration 7 Signatories systematically integrate stewardship and investment, including ESG integration 12–13 material environmental, social and governance issues, and climate change to ful昀椀l their responsibilities 8 Signatories monitor and hold to account managers and/or service providers ESG integration, Engagement 14–15, 18–21 9 Signatories engage with issuers to maintain or enhance the value of assets Engagement 16–21, 23–24 10 Signatories, where necessary, participate in collaborative engagement to Engagement 16–17, 19, 21–24 in昀氀uence issuers 11 Signatories, where necessary, escalate stewardship activities to Voting 25–26 in昀氀uence issuers 12 Signatories actively exercise their rights and responsibilities Voting 25–27