Download our 2024 Engagement Report
At P1 Investment Services, we believe that asset and wealth managers have a crucial role in driving companies towards positive change through active engagement.
Our 2024 Engagement Report captures the work we’ve been doing up to August 2024 across our ethical and sustainable services, focusing on the TM P1 Sustainable World Fund (OEIC) and our Ethical and Sustainable model portfolio range. These initiatives together represent £50 million in assets as of August 2024.
This year, we’ve engaged on issues ranging from fossil fuel divestment and net-zero commitments to addressing plastic waste, climate transition risks, modern slavery, and armaments. We’ve also supported broader initiatives, such as the UK Government’s commitment to net-zero.
From Our Head of Research and Ethical Investment, Dr. Quintin Rayer…
“Engagement remains a top priority for us, especially as climate-related targets continue to be broken. Global sea surface temperatures stayed significantly above historical averages from January to June 2024, and projections suggest that this trend will persist. Analyses indicate that last year’s severe drought in the Amazon rainforest was made 30 times more likely by global warming, while Typhoon Gaemi’s deadly winds in Taiwan were 50% more likely due to climate change. With human-induced warming recently estimated at 1.3°C, we are approaching the Paris Agreement target of 1.5°C, emphasising the urgency of climate action.
At P1 we continue our strong focus on climate related issues. Given the urgency of the climate crisis and damaging human-induced global warming, we clearly identify climate change as a thematic engagement priority.
Another environmental concern is plastics pollution. We continue to support As You Sow’s Plastic Solutions Investor Alliance (PSIA) initiatives. Companies need to maintain and advance progress made on addressing plastic wrapping and reducing plastic packaging.
We actively exercise our voting rights. The occasions when P1 has voted not to support company boards have mostly reflected governance issues such as director or auditor tenure, but we have also voted against political donations and inadequate climate risk reporting. When we vote against a resolution, we contact the company board to explain why.
Thus, our engagement additionally covers governance issues without direct links with climate change. We have also engaged on social issues, particularly around good employment practices. This year we have followed up our previous activities to check progress on adoption of the UK Modern Slavery Act 2015. In previous years we engaged on the UN Global Compact and other issues, such as armaments”.
Explore the report to learn more about how P1 Investment Services continues to champion sustainable and ethical investment practices, driving companies toward a more responsible and positive future.
