Welcome to the Tomorrow’s Stewardship site!
You may have come here as a result of reading coverage of our work in the media. You may also have seen the new ‘Investor Stewardship’ campaign started by the Financial Mail on Sunday in response to our Stewardship Manifesto. If you want to know more about our Stewardship Campaign and make use of the resources which will help you improve your stewardship, please go to the dedicated section of our website.
This means that a summer of stewardship is now under way. We have started it by launching our new report ‘Why Stewardship Matters’ which shows how the ordinary person can start to insist on stewardship from the people who supply financial services.
Vince Cable meanwhile has launched the review of short-termism by the respected Professor John Kay. He has picked up nearly all the issues Tomorrow’s Company has put to him over the last few months, including a fresh look at the responsibilities of asset owners and managers. Or as we put it, the demand side and the supply side of stewardship.
Now we need ordinary savers to feel empowered. We can all send signals to insurance companies, fund managers and pension funds to say we want them to be effective stewards of our money.
Stewardship is the golden thread that binds savers, citizens investors, companies and society together in a positive approach to creating wealth for us all. You are now helping us sew that golden thread!
For the latest comment on how current events are interplaying with our stewardship agenda (including an article on "Lessons from News Corp" by Mark Goyder) and for all of our stewardship articles please scroll down to the bottom of this page.
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We all have a responsibility, to ourselves, and to those around us, to leave our work, our organisation, our community and our world a better place as a result of our time in post.
Stewardship of business is in our combined self-interest. Without stewardship companies become unaccountable. As customers and funders of the investment system, and as the relatives and neighbours of those who will feel its impacts, we need to be able to exercise our influence as owners and hold to account those to whom we entrust our savings.
The majority of us will lose money directly if there is poor stewardship of the funds in which we invest. It is our wealth that is being stewarded. Meanwhile, the investment system is becoming more international. This makes the task more complicated but no less important.
There are serious weaknesses in the way our current system of investment in companies works. These can – and must – be overcome by the proper exercise of stewardship by individuals, pension funds, insurance companies, fund managers and the companies in which they invest.
Stewardship is the golden thread that connects us all in the system – individuals and our advisors, pension trustees, insurance companies, fund managers and others all the way along the chain, and the regulators and lawmakers who set the rules.
If you want to develop a more detailed agenda and create a momentum for stewardship, contact: stewardship@tomorrowscompany.com
Tomorrow’s Company has been developing its agenda for stewardship since its first report ‘Tomorrow’s Owners – Stewardship of tomorrow’s company’ in 2008.
We have
• published ‘Tomorrow’s Stewardship: Why stewardship matters’ and the Tomorrow’s Company Stewardship Manifesto
• initiated the Stewardship Campaign inaugurated with the Manifesto built to help key players make a difference in their stewardship agenda
• developed the Tomorrow’s Company Stewardship Principles
• published a report on ‘Family Business Stewardship’ with the Institute for Family Business
• published a report suggesting how UK company boards could improve their stewardship by changing the way they nominate directors
• helped stimulate the development of the world’s first Stewardship Code for Investors further to the elaboration of Tomorrow’s Company Stewardship Principles
• already stimulated a widespread interest in stewardship
• started to investigate Why and How Stewardship Pays
• started to describe the incentives and frameworks needed to create Tomorrow’s Stewardship Economy.