Governance, Stewardship and Sustainability: Theory, Practice and Evidence

The first introductory practical guide of its kind, this book brings together principles of corporate governance, investor stewardship and enterprise sustainability in the context of institutional investment.

Stewardship codes are developing in diverse markets to provide a framework for responsible institutional investment practices and fiduciary duties for beneficiaries. While codes provide a starting point, the application of stewardship in practical terms can be challenging for many institutional investors. Written by two well-known corporate governance experts, George Dallas and Mike Lubrano, and based on the ICGN training course on stewardship that they developed, this book gives needed clarity, rigor and guidance to practitioners about what we know--and don’t know--about stewardship, governance and sustainability. It explores the theoretical foundations of stewardship, linking these to day-to-day decision-making and providing real-life examples and practical tools to evaluate issues that arise for companies from an environmental, social and governance perspective and generate ideas about how to make investor stewardship a practical reality in similar cases.

Investor stewardship and ESG professionals, portfolio managers, senior managers, regulators and finance students will appreciate this unique guide to developing, refining and operationalising investor stewardship capabilities in line with the respected and internationally recognised ICGN policy framework.

George Dallas has served as Policy Director at the International Corporate Governance Network since 2014, where he co-ordinates ICGN’s governance polices and committees and plays a leading role in ICGN’s policy development and regulatory outreach. He is a Visiting Lecturer at Bayes Business School, University of London, and has held senior roles at F&C Investments (now BMO Global Asset Management) and Standard & Poor’s. He has published widely and holds a BA degree, with distinction, from Stanford University and an MBA from the Haas School of the University of California at Berkeley.

Mike Lubrano is Managing Director at Valoris Stewardship Catalysts, where he advises investors and companies on the challenges of stewardship and sustainability. He has helped develop and delivered ICGN’s ESG Integration and Governance, Stewardship and Sustainability courses since 2011, and has trained investment analysts in the U.S., Europe and emerging markets for two decades. He currently teaches Sustainable Finance and Impact Investing at Johns Hopkins University. Mike earned his AB magna cum laude from Harvard College; his JD cum laude from New York University School of Law; and his MPA from Princeton University.