6 Pension Protection Fund Responsible Investment Report 2021/22 Strengthening our stewardship commitment Our Responsible Investment strategy Our new Stewardship Policy underlines this belief and commitment. Every day, we look to exercise our rights and puts ESG integration at its heart, re昀氀ecting engage with the issuers we invest in to make sure they‘re fully accountable to shareholders and other stakeholders. the fact that our investments can be Equally, we rigorously monitor the stewardship activities of the external fund managers we appoint – holding them to in昀氀uenced by environmental and social the same standards we hold ourselves. Re昀氀ecting this commitment, we were delighted to be factors to make a real di昀昀erence. We view accepted by the Financial Reporting Council in March 2022 as a signatory to the UK Stewardship Code 2020. The UK stewardship as one of the most powerful Stewardship Code sets high standards for those investing money on behalf of UK savers and pensioners, and those ways we can drive companies to transform, that support them. We are committed to striving to meet generating real world impact. its principles in all our activities. Escalating our engagement through voting is a critical element of our stewardship activities. We drafted new voting guidelines during the year to inform our voting Every day, we look to decisions in the upcoming AGM seasons. The guidelines summarise situations where we will consider voting against exercise our rights and management on key issues relating to climate change, modern slavery and D&I, re昀氀ecting our own focus areas engage with the issuers as an organisation. we invest in to make sure During the year, we decided to further consolidate our they‘re fully accountable voting processes across our di昀昀erent equity mandates by bringing more under the remit of our stewardship services to shareholders and provider EOS. We hope this will give us better oversight and consistency across our voting decisions, allowing for other stakeholders. greater alignment with our stewardship priorities. Barry Kenneth Chief Investment O昀케cer