2023 Stewardship Report

WTW’s Investments business continues to highlight the power of effective stewardship as a key lever for improving financial returns, as we have done for many years. We recognise the important role that we play in the broader investment industry, and we endeavour to contribute to progress in this space.

We are pleased to be current signatories of the UK Stewardship Code and have submitted our latest report to the Financial Reporting Council to maintain our signatory status for 2024. WTW supports and recognises the UK Stewardship Code as setting good practice standards in the advancement and implementation of investor stewardship globally. This report describes our Investments activities – across research, delegated and advisory services as well as our proprietary funds – and we address all of the Code’s 12 principles, along with details of the context we work in, our activities and the outcomes of our work across 2023.

Highlights of our stewardship activity in 2023 can be found in our Executive Summary, but we encourage you to refer to our full report for further details, context and case studies. Within each we have also dedicated ‘Spotlight pages’ to some key stewardship areas this year:

• Climate, net zero and nature – taking steps towards our net zero commitment.
• Our work with EOS at Federated Hermes – a key partner in effective stewardship.
• The Thinking Ahead Institute – supporting the development and socialisation of our sustainability work.
• Our focus on diversity, equity and inclusion – supporting representation in the industry.
• Engaging with asset managers – a key stewardship activity towards positive change.
• Our work seeking out private market impact opportunities – having positive sustainability credentials.