Global Stewardship Codes shown in the list below are the key international codes. Stewardship Codes are usually addressed at institutional investors and outline out good practice for engagement with investee companies. Stewardship Codes are generally voluntary and operate on a “comply or explain” or “if not, why not” basis. Stewardship Codes may have an element of regulatory impetus, for example by inclusion in asset manager conduct of business rules. The Stewardship Codes may have been developed by membership bodies or through regulatory bodies.

Existing Global Stewardship Codes

Australian Asset Owner Stewardship Code (2018)
Brazil AMEC Stewardship Code (2016)
Bulgaria Bulgarian Code For Corporate Governance (2016)
Canada Principles for Governance Monitoring, Voting and Shareholder Engagement (2010)
Europe Principles for the exercise of ownership rights in investee companies (2011)
Hong Kong Principles of Responsible Ownership (March 2016)
India Responsible shareholder engagement and  IRDAI (2016)| Stewardship Code for all Mutual Funds and all categories of AIFs, in relation to their investment in listed equities (2019)
Italy Italian Stewardship Principles for the Exercise of Administrative and Voting Rights in Listed Companies (2016)
Japan Principles for Responsible Institutional Investors (2020)
Kenya Stewardship Code for Institutional Investors (2017)
Korea Korea Stewardship Code (2017)
Malaysia Malaysian Code for Institutional Investors (2014)
The Netherlands Dutch Stewardship Code (2018)
Singapore Stewardship Principles for Responsible Investors (2016)
South Africa Code for Responsible Investing (2011)
Switzerland Guidelines for institutional investors governing the exercising of participation rights in public limited companies (2016)
Taiwan Stewardship Principles for Institutional Investors
Thailand Investment Governance Code for Institutional Investors (2017) Corporate Governance Code for listed companies (2017)
United Kingdom The UK Stewardship Code (2020)
United States of America The Investor Stewardship Group (2017)
Global Code ICGN Global Stewardship Principles (2016)

Global Stewardship Codes Under Development

Kazakhstan Responsible shareholder engagement (2016)

The International Corporate Governance Network (ICGN) is currently developing a Stewardship Code Network to support the development of stewardship codes.

Please also see the Global Governance Codes page.

Last Updated: 22 June 2020