Greenbank Engagement Review 2023-24

Read Greenbank's Engagement Review 2023-24

John David, Head of Greenbank:

"The sustainability risks and opportunities which underpin our investment approach at Greenbank have not gone away. Almost 3 billion people worldwide will go to the polls for national and municipal elections in 2024. Not all these elections will impact sustainable development directly, but the risk of political partisanship and climate misinformation in some quarters could alter the tone of discourse on climate change and wider sustainability issues, and potentially stall the progress of climate policy. However, at COP28 in December last year we heard commitments that signal a real and genuine desire to deploy renewables globally. The target agreed at COP28 is to triple renewable energy capacity by 2030.

The next decade is likely to be characterised by several environmental and social crises, driven by geopolitical, technological and economic trends. The latest World Economic Forum Global Risks Report which outlines the risks perceived to be of greatest significance, shows us that environmental and societal risks take the top spots, with climate change and biodiversity loss seen as the biggest risks over the 10-year time frame, and misinformation, extreme weather events and societal polarisation over the 2-year time frame. Much of our engagement activity focuses on these areas, aligned to our eight sustainable development themes. Our vision is to empower our clients to invest their money as a force for good, together championing the transition to a healthier planet and a more equitable society. Engagement is one of the core ways in which we can create impact as an investment management company.

Engagement is one of the core ways in which we can create impact as an investment management company.

Looking closer to home, Greenbank celebrates a significant milestone this year: the 20th anniversary of our becoming the ethical investment arm of Rathbones Group. In that time, we’ve been at the forefront of sustainable investment, driving positive change in finance, business, and society.

Winning the award for ‘Best Sustainable Investment Wealth Manager/DFM (Discretionary Fund Manager) Group’ at the 2023 Investment Week Sustainable Investment Awards was a fitting testament to that industry leadership and more than 20 years of hard work and dedication across the business.

In this annual Engagement Review, we provide a snapshot of the team’s engagement activities and progress in 2023 and outline our priorities for 2024. This work is not only designed to bring about positive change in corporate, social and environmental performance, it is integrated with our investment activity as we strive to deliver sustainable returns for our clients in a rapidly changing world."

Sophie Lawrence, Stewardship and Engagement Lead:

"Our engagement action plan for 2023 was ambitious, spanning four priority projects on net zero, biodiversity, nutrition, and human rights due diligence in supply chains. We also had a range of secondary projects underway, focused on issues such as access to medicine, workplace mental health, social housing, and animal welfare. With an expanded Ethical, Sustainable and Impact (ESI) research team, we were able to increase the volume of engagement interactions by 80% in comparison to the previous year. You can read about our activity and achievements in the ‘Impact from our engagement in 2023’ section of the report.

With an expanded Ethical, Sustainable and Impact (ESI) research team, we were able to increase the volume of engagement interactions by 80% in comparison to the previous year. 

The report also introduces our focus areas for 2024, which lie under three broad themes of nature, health, and climate. We also outline our secondary focus areas which include digital rights, circular economy, and workforce."

Read Greenbank's Engagement Review 2023-24