THE Church Commissioners have worked with other investors to gather more information about the human-rights records of other companies, their latest stewardship report says.
The Commissioners, together with Aviva and Scottish Widows, created the Investor Initiative on Human Rights Data (II-HRD) in 2024 as “a collaborative initiative where institutional investors work to advance the availability, quality and use of corporate human rights data”. More than 25 investors, with assets under management of more than US$8 trillion, have signed up to the scheme, say the Commissioners in An Ethical and Responsible Approach: Stewardship report 2024.
When the II-HRD was announced last year, the Commissioners’ Social Lead, Dan Neale, said that companies’ respect for human rights was “key to addressing social inequality and achieving just transitions to a nature-positive and net-zero world. But without the right data, for the right companies, it is hard for investors to hold companies accountable.”
In the report, published on Wednesday, the First Church Estates Commissioner, Alan Smith, writes: “This initiative is a clear demonstration that our investments are as much about ethical accountability as they are about financial performance.”
Mr Smith says that 2024 brought “unprecedented” geopolitical, economic, environmental, and social changes, which “required careful stewardship”.
“In a year dominated by uncertainty, we reaffirmed our commitment to sustainability. We sought robust financial returns and at the same time aimed to nurture the communities we serve — and to promote the flourishing of all human beings, and of the planet.”
The Commissioners’ commitment to tackling climate change has been “unwavering”, he writes. “We expanded the coverage of greenhouse gas emissions data across our portfolio to better understand and manage our exposure to climate risks. Concurrently, construction began on the Crystal Rig IV Wind Farm in the Scottish Borders — a pilot project that already generates annual community benefit from the portion located on our property. These initiatives demonstrate how environmental stewardship can yield both socioeconomic benefits and long-term value.”
The Commissioners also “conducted one of the largest farmland tenant surveys ever undertaken by a UK landowner”, he writes. “These insights deepened our understanding of the evolving challenges faced by our farming tenants and allowed us to refine our strategies to support sustainable agriculture and community resilience.”