Friday, January 22, 2021
“IA”) published its shareholder priorities for listed companies in 2021. The publication:
Assesses the progress made by listed companies on the four areas identified by investors as critical drivers of long-term value at the time of publication of the shareholder priorities for 2020;
Sets outs IA member expectations for 2021; and
Describes the approach which its corporate governance research service, the Institutional Voting Information Service (
“IVIS”), will take to analyse these issues for companies with year-ends on or after 31 December 2020. This includes a summary of the IVIS questions and colour top approach for 2021.
A copy of the Investment Association Shareholder Priorities for 2021 can be found here.
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The 2020 annual general meeting (AGM) season presented challenges for the remuneration committees of U.K. listed companies, which look set to continue into the 2021 season. Executive compensation, the widening gap between workforce and management pay, and reward for underperformance remain key areas of focus for investors. The COVID-19 pandemic has intensified scrutiny in these areas, and has accelerated the move (driven in part by the continuing investor focus on ESG credentials, as detailed in our October 29, 2020, client alert “Finding the ‘S’ in ESG: Boardroom and Employee Considerations”) towards requiring more responsible remuneration practices and appropriate use of remuneration structures. As the COVID-19 pandemic continues into the 2021 AGM season, investors and the public will be assessing how the pandemic’s impact on businesses and the wider workforce should affect decisions concerning executive pay. W