IMPORTANT INFORMATION
All data as at 31 December 2025, unless specified otherwise. This document is issued for information purposes only. It does not constitute the provision of financial, investment or other professional advice. We strongly recommend you seek independent professional advice prior to investing. The value of investments and the income derived from them may fall as well as rise. Investors may not get back the amount originally invested and may lose money. Any forward-looking statements are based on CCLA’s current opinions, expectations and projections. CCLA undertakes no obligations to update or revise these. Actual results could differ materially from those anticipated. All names, logos and brands shown in this document are the property of their respective owners and do not imply endorsement. These have been used for the purposes of this document only. CCLA Investment Management Limited (registered in England & Wales, No. 2183088, at One Angel Lane, London EC4R 3AB) is part of the Jupiter Group, and is authorised and regulated by the Financial Conduct Authority.
Foreword
What is Good Investment?
Our responsible investment approach
2025 a year in action
Stewardship and engagement
Appendix 1: 2025 engagement record
Appendix 2: Shareholder proposals
Appendix 3: Investors supporting CCLA engagement
Appendix 4: Governance and our portfolios
Appendix 5: Climate pledge and portfolio carbon footprint
Appendix 6: Memberships and initiatives
Appendix 7: Industry recognition
Appendix 8: Standards, frameworks and initiatives
2026 Better World
Stewardship outcomes for the year 2025
What is Good Investment?
What is Good Investment?
Our vision
Our vision
Investment markets thrive only when the communities and environments that underpin them are healthy and resilient. At CCLA, we believe that consistent investment returns are inseparable from a flourishing economy and stable society.
That’s why our focus goes beyond simply generating financial wealth to fostering both wealth and wellbeing. We are committed to using our voice as investors in ways that support long‑term value creation, social justice and environmental sustainability.
Our mission
Our mission
CCLA’s mission is to help clients maximise their impact on society by harnessing the power of investment markets.
Our aim is to deliver consistent, risk-adjusted returns to our clients in a way that aligns with their values and furthers their mission. Our engagement philosophy is centred around actions, rather than transactions, and is focused on delivering real‑world social and environmental outcomes for our clients.
Our mission is supported by our Good Investment beliefs.

Robert Weber/The New Yorker Collection/The Cartoon Bank
Our Good Investment beliefs
Our Good Investment beliefs
Act
Act
Investment markets can only be as healthy as the environment and communities that support them. We act to bring about positive social and environmental change by:
- using our ownership rights to improve the sustainability of the assets in which we invest
- bringing investors together to address systemic risks that have not had the attention that they require
- seeking to be a catalyst for change in the investment industry.
Assess
Assess
We believe that companies with unsustainable business practices will be undermined by changing legislation, regulation and societal preference over time. These companies are unlikely to be successful over the long term.
Accordingly, we look to identify and avoid investing in companies that have uncompensated, unwanted, unwarranted or unmitigated ESG risks as evidenced by:
- poor management or weak corporate governance
- an unacceptable social or environmental impact
- failing to demonstrate a willingness to improve through investor engagement.
Align
Align
We are the guardians, not the owners, of the assets that we manage. Accordingly, we have a responsibility to:
- align investment portfolios with our clients’ objectives, values and beliefs
- report on the outcomes of all our work
- be transparent about everything that we do on our clients’ behalf.
Good Investment
Good Investment
Together, these principles are what we call Good Investment.
We believe that companies committed to sustainable business practices are better positioned to deliver long-term success. At CCLA, stewardship is central to our investment philosophy. We actively engage with the companies in which we invest and build pioneering engagement programmes designed to kick-start the investment industry into action on underserved sustainability challenges.
This approach sits at the intersection of client priorities and long-term value at risk: supporting stronger financial outcomes, while also contributing to a healthier society and environment.