Legal & General Group PLC

Legal & General Group PLC has put in place a robust governance framework to ensure its engagement with policymakers and trade associations is aligned with its net-zero ambitions. It specifies that "LGIM engages internationally and domestically, both directly with policymakers and indirectly with trade associations to accelerate the transition to net zero" and further clarifies that "LGIM's dedicated ESG Policy Lead works with colleagues across the business - including our parent L&G Group - to ensure a coordinated and consistent approach to influencing policy, law or regulation and that this is aligned with our climate strategy and commitment to net zero." Oversight of these activities is entrusted to formal bodies: "The Investment Stewardship Committee reports to LGIM's CEO and the LGIM(H) Board, while the Net Zero Working Group and the Responsible Investment Oversight Committee report to LGIM's Executive Committee, up to the CEO and Board," and "members of LGIM's Executive Committee, including the CIO, Head of Responsible Investment Integration and Head of Stewardship sit on the L&G Group Environment Committee - focused on the Group's strategic response to climate change and reporting into the Group ExCo and Board." While these structures demonstrate clear accountability for both direct and indirect lobbying, we found no evidence of a standalone climate-lobbying alignment report or a third-party audit explicitly evaluating these activities, nor is there a detailed description of periodic review procedures or specific metrics for assessing ongoing compliance with a 1.5°C scenario.