Australia – Australian Asset Owner Stewardship Code – March 2024

Australian Asset Owner Stewardship Code – March 2024.

Covering:

Introduction

The Code

– Stewardship

– Application

– Materiality

– If not, why not

– Code Development, Review, and Governance

The Principles

Australian Asset Owner Stewardship Code

Principle 1: Asset owners should publicly disclose how they approach their stewardship responsibilities

Principle 2: Asset owners should publicly disclose their policy for voting at listed company meetings and voting activity

Principle 3: Asset owners should engage with companies (either directly, indirectly, or both)

Principle 4: Asset owners should monitor asset managers’ stewardship activities

Principle 5: Asset owners should encourage better alignment of the operations of the financial system and regulatory policy with the interests of long-term investors

Principle 6: Asset owners should report to beneficiaries about their stewardship activities

Principle 7: Asset owners should outline how they utilise collaboration in their stewardship activities