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Collaborative Investor Engagement with Policymakers: Changing the Rules of the Game?

Referierte Aufsätze Web of Science

Camila Yamahaki, Catherine Marchewitz

In: Qualitative Research in Financial Markets (2024), im Ersch. [online first: 2024-02-28]


Purpose – Applying universal ownership theory and drawing on a multiplecase study design, this study aims to analyze what drives institutional investors to engage with government entities and what challengesthey find in the process.Design/methodology/approach – The authors relied on document analysis and conducted 12 semistructured interviews with representatives from asset owners, assetmanagers, investor associations and academia. Findings – The authors identify a trend where investors conduct policy engagement to fulfill their fiduciary duty, improve investment risk management and create an enabling environment for sustainable investments. As for engagement challenges, investors report the longer-term horizon, a perceived limited influence toward governments, the need for capacity building for investors and governments, as well as the difficulty in accessing government representatives.Originality/value – This research contributes to filling a gap in the literature on this new form of investor activism, as a growing number of investors engage with sovereign entities on environmental, social and governance issues.

Catherine Marchewitz

Research Associate in the Climate Policy Department

Topics: Climate policy

Keywords: Shareholder engagement, Shareholder activism, Environmental social and governance (ESG), Public policy engagement, Sovereign engagement, Sustainable finance, Universal ownership