October 23rd 2025

Climate Change

Governance Risk

Human Rights

Reliable accounts

Stewardship

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LAPFF is pleased to present its Q3 2025 Quarterly Engagement Report (QER), covering engagements from July to September 2025.

Highlights include:

• Cement sector: Meetings with Heidelberg and CRH focused on the credibility of decarbonisation strategies, with Heidelberg’s “moon landing” CCS project now operational in Norway.
• Water stewardship: Engagements with Pennon and Severn Trent explored responses to rising scrutiny over sewage spills, PFAS contamination, and sustainable water use.
• Nature & biodiversity: As part of Nature Action 100, LAPFF led its first investor meeting with Pfizer and wrote to major agribusinesses on TNFD-aligned nature disclosure.
• CAHRAs: Expanded engagements with Eni, TotalEnergies, and Australian banks on heightened human rights due diligence in conflict zones.
• Executive pay: Meetings with Prysmian, Infineon, Genmab, Besi, and Pandora following high levels of shareholder dissent, pressing for stronger pay-performance alignment and transparency.
• Consultation Response: LAPFF responded to the UK Sustainability Reporting Standards consultation, highlighting concerns about the narrow “decision-useful” reporting approach.

Click here to view the full report.