Shareholder Rights Directive

Shareholder Rights Directive

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Shareholder Rights Directive (SRD II)

SRD II, which has been transposed into UK law by the Companies (Shareholders’ Rights to Voting Confirmations) Regulations 2020 (“UK SRD II”), aims to promote effective stewardship and long-term investment decision making, in respect of shares traded on a regulated market. For these purposes a regulated market is a UK Regulated Investment Exchange (or a market outside the United Kingdom which meets comparable requirements and where the financial instruments dealt in are of a quality comparable to those in a regulated market in the United Kingdom). It came into effect on 10 June 2019.

The rules require asset managers, who invest in shares traded on a regulated market detailed above, to:


  • publish their shareholder engagement policy (or explain why they don’t have one) – COBS 2.2B.5R.
  • make annual public disclosures relating to the implementation of their shareholder engagement policy– COBS 2.2B.5R.
  • make disclosures to asset owners, including how their investment strategies contribute to the medium to long term performance of their assets – COBS 2.2B.9R.


Climate Asset Management does not manage investments in shares which are traded on a regulated market and so the SRD II rules do not apply to it. Therefore, we have not developed a shareholder engagement policy and nor are we required to make the disclosures outlined above.