M&G PLC – Lobbying Governance & Transparency

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Lobbying Governance

Overall Assessment	Analysis	Score
Limited	M&G PLC discloses only high-level commitments around its own policy engagement but provides little detail on how this activity is governed. It states that it “works constructively with policymakers to create a policy and regulatory framework that will facilitate the right behaviours” and that it has “a public commitment or position statement to conduct [its] engagement activities in line with the goals of the Paris Agreement.” The company also notes that it “actively engage[s] in consultative processes with our regulators… in our own right, and through investor organisations such as the UK Sustainable Investment and Finance Association (UKSIF) and trade associations such as the Association of British Insurers (ABI).” However, beyond these headline statements, the evidence does not describe a formal procedure for monitoring or reviewing the alignment of lobbying with the company’s climate strategy, nor does it identify a board committee or named executive who oversees lobbying alignment. While M&G says it seeks “alignment with lobbying activity, both from the company and its trade organisations,” it does not explain how that alignment is assessed, enforced, or reported. We found no disclosure of a lobbying-alignment review, no description of escalation or corrective measures with trade associations, and no dedicated lobbying report. This limited information shows an intention to align policy engagement with climate goals but lacks the governance structures, monitoring mechanisms, and accountability details seen in stronger frameworks. View Sources	1

Overall Assessment

Analysis

Score

Limited

M&G PLC discloses only high-level commitments around its own policy engagement but provides little detail on how this activity is governed. It states that it “works constructively with policymakers to create a policy and regulatory framework that will facilitate the right behaviours” and that it has “a public commitment or position statement to conduct [its] engagement activities in line with the goals of the Paris Agreement.” The company also notes that it “actively engage[s] in consultative processes with our regulators… in our own right, and through investor organisations such as the UK Sustainable Investment and Finance Association (UKSIF) and trade associations such as the Association of British Insurers (ABI).” However, beyond these headline statements, the evidence does not describe a formal procedure for monitoring or reviewing the alignment of lobbying with the company’s climate strategy, nor does it identify a board committee or named executive who oversees lobbying alignment. While M&G says it seeks “alignment with lobbying activity, both from the company and its trade organisations,” it does not explain how that alignment is assessed, enforced, or reported. We found no disclosure of a lobbying-alignment review, no description of escalation or corrective measures with trade associations, and no dedicated lobbying report. This limited information shows an intention to align policy engagement with climate goals but lacks the governance structures, monitoring mechanisms, and accountability details seen in stronger frameworks.

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Lobbying Transparency

Overall Assessment	Analysis	Score
Strong	M&G PLC provides a detailed picture of its climate-policy advocacy. It names a wide range of specific measures it has engaged on – including the “UK Taxonomy,” the “Revised UK Green Finance Strategy,” forthcoming “UK Transition Plans” and “UK Net-Zero Review,” the FCA’s “Sustainability Disclosure Requirements,” consultations on “ISSB Sustainability-related and Climate specific reporting standards,” and EU files such as the “SFDR” and “CSRD.” The company also discloses how and with whom it seeks to influence these policies, describing direct meetings with “UK Ministers and government officials,” dialogues with the “green finance teams in HM Treasury and BEIS,” submissions to the PRA and FCA (for example through the Climate Financial Risk Forum), co-signing letters to “policy-making members of bodies such as the G7 and G20,” and indirect engagement via trade groups such as the Association of British Insurers and the Institutional Investors Group on Climate Change. Finally, M&G sets out the outcomes it is pursuing, supporting mandatory TCFD-aligned disclosure rules and the ISSB’s global standards while “suggest[ing] targeted changes” to strengthen proposals, and advocating financial-sector rules that “promote more informed investment, credit and insurance underwriting decisions” and align markets with the Paris Agreement. While these desired outcomes are not always expressed as precise legislative amendments, they are clearly linked to the named policies, demonstrating a strong level of transparency about the company’s climate-lobbying objectives.	3