Book contents
- Endorsements
- Global Shareholder Stewardship
- Global Shareholder Stewardship
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Contributors
- Foreword
- Acknowledgements
- Abbreviations
- Part I Foundations
- Part II Jurisdictions
- 4 Shareholder Stewardship in the Netherlands
- 5 Capitalist Stakeholders
- 6 Institutional Investor Stewardship in Italian Corporate Governance
- 7 The Danish Stewardship Code
- 8 Stewardship Norwegian-Style
- 9 Stewardship and Shareholder Engagement in Germany
- 10 The Japanese Stewardship Code
- 11 Korea’s Stewardship Code and the Rise of Shareholder Activism
- 12 The Assessment of Taiwan’s Shareholder Stewardship Codes
- 13 Stewardship in the Hong Kong International Financial Centre
- 14 Singapore’s Embrace of Shareholder Stewardship
- 15 Institutional Investor Stewardship in Malaysia
- 16 The Thai Institutional Investors Stewardship Code and Its Implementation
- 17 Shareholder Stewardship in India
- 18 Institutional Investors in China
- 19 Stewardship and Collective Action
- 20 Stewardship Principles in Canada
- 21 The Uncertain Stewardship Potential of Index Funds
- 22 Encouraging Sustainable Investment in South Africa
- 23 Stewardship in Kenya
- 24 The Brazilian Stewardship Framework
- Part III Comparisons
- Index
23 - Stewardship in Kenya
Just a Code or Something More?
from Part II - Jurisdictions
Published online by Cambridge University Press: 28 April 2022
- Endorsements
- Global Shareholder Stewardship
- Global Shareholder Stewardship
- Copyright page
- Dedication
- Contents
- Figures
- Tables
- Contributors
- Foreword
- Acknowledgements
- Abbreviations
- Part I Foundations
- Part II Jurisdictions
- 4 Shareholder Stewardship in the Netherlands
- 5 Capitalist Stakeholders
- 6 Institutional Investor Stewardship in Italian Corporate Governance
- 7 The Danish Stewardship Code
- 8 Stewardship Norwegian-Style
- 9 Stewardship and Shareholder Engagement in Germany
- 10 The Japanese Stewardship Code
- 11 Korea’s Stewardship Code and the Rise of Shareholder Activism
- 12 The Assessment of Taiwan’s Shareholder Stewardship Codes
- 13 Stewardship in the Hong Kong International Financial Centre
- 14 Singapore’s Embrace of Shareholder Stewardship
- 15 Institutional Investor Stewardship in Malaysia
- 16 The Thai Institutional Investors Stewardship Code and Its Implementation
- 17 Shareholder Stewardship in India
- 18 Institutional Investors in China
- 19 Stewardship and Collective Action
- 20 Stewardship Principles in Canada
- 21 The Uncertain Stewardship Potential of Index Funds
- 22 Encouraging Sustainable Investment in South Africa
- 23 Stewardship in Kenya
- 24 The Brazilian Stewardship Framework
- Part III Comparisons
- Index
Summary
This chapter considers the South African shareholder stewardship code, the Code for Responsible Investing in South Africa (‘CRISA’). CRISA sets a strong agenda for the promotion of sustainability considerations in the investment analysis and investment decisions of institutional shareholders. The principles of CRISA are mostly accepted by both asset owners and asset managers side. However, disclosure on compliance with CRISA principles has been weak. Adoption of CRISA is supported by the South African corporate governance code, the King IV Report on Corporate Governance for South Africa 2016 (King IV). Principle 17 of King IV expects that the governing bodies of institutional investors will ensure responsible investment to promote good governance and value creation. The responsible investment framework for institutional investors is further supported by hard law in the form of regulation 28 of the Pension Funds Act 25 of 1956, which promotes the responsible investing of pension fund assets. The South African Financial Sector Conduct Authority has published a guidance notice to further guide boards in ensuring the sustainability of investments and assets. The chapter ends with recommendations for the improvement of CRISA and argues that the supervision of stewardship could improve if overseen by the Financial Sector Conduct Authority.
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- Chapter
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- Global Shareholder Stewardship , pp. 490 - 506Publisher: Cambridge University PressPrint publication year: 2022