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Baillie Gifford

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Company information
Baillie Gifford

Please note:  This section of the database is in beta and still under development

Information received directly from Fund Manager

Last amended date: Jul 2025

Assets under management
Total Screened Themed SRI Assets:
£18652.00m (as at: Mar 2025)
Total Responsible Ownership Assets:
£197033.20m (as at: Mar 2025)
Total Assets Under Management:
£197033.20m (as at: Mar 2025)
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Fund Management Company Information

About The Business
Responsible ownership / stewardship policy or strategy (AFM companywide)

Finds fund / asset management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.

ESG / SRI engagement (AFM companywide)

Find fund / asset management companies that actively encourage higher 'environmental, social and governance' and / or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.

Vote all* shares at AGMs / EGMs (AFM companywide)

Find fund / asset managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)

Responsible ownership / ESG a key differentiator (AFM companywide)

Find fund / asset managers that consider responsible ownership and ESG to be a key differentiator for their business.

Responsible ownership policy for non SRI / sustainable options (AFM companywide)

Find options run by managers that apply Responsible ownership or 'Stewardship' policies to all or most of their investment assets. This means active involvement (e.g. voting, dialogue) with the companies across all or most funds, products and services.

Integrates ESG factors into all / most research (AFM companywide)

Find fund / asset management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.

Invests in newly listed companies (AFM companywide)

This fund / asset management company invests in companies which have recently listed on a stock exchange (which is important as it can help grow new businesses).

Collaborations & Affiliations
PRI signatory

Find fund / asset management companies that have signed up to the UN backed 'Principles of Responsible Investment'.

TNFD forum member (AFM companywide)

A member of the Taskforce for Nature Related Financial Disclosures group which aims to aid risk management and shift money towards nature-positive outcomes.

Resources
In-house responsible ownership / voting expertise

Find fund / asset management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.

Employ specialist ESG / SRI / sustainability researchers

Find a fund / asset management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.

Accreditations
UK Stewardship Code signatory (AFM companywide)

Find fund / asset managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where managers are encouraged to behave like responsible, typically longer term 'company owners'.

Engagement Approach
Encourage responsible corporate taxation (AFM companywide)

Find fund / asset management companies that are working with the companies they invest in to encourage more responsible corporate taxation.

Engaging on climate change issues

Fund / asset manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.

Engaging on biodiversity / nature issues

The fund / asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global

Engaging on human rights issues

Fund / asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards

Engaging on labour / employment issues

Fund / asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)

Engaging on diversity, equality & / or inclusion issues

Fund / asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets

Engaging on governance issues

Fund / asset managers have stewardship strategies in place that focus on improving governance standards across investee assets

Engaging on responsible supply chain issues

Has a stewardship / responsible ownership strategy that encourages responsible supply chain - ie the managers will discuss environmental, social and governance issues with investee companies with the aim of raising standards

Split voting policy

This fund / asset manager may vote differently for different clients or regions. See fund manager stewardship policy for further information.

Stewardship escalation policy

Escalation policies describe how a manager will proceed if stewardship / engagement activity is not successful in the short term.

Company Wide Exclusions
Controversial weapons avoidance policy (AFM companywide)

Find fund / asset management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.

Review(ing) carbon / fossil fuel exposure for all funds (AFM companywide)

Find funds / asset managers that are reviewing, or have reviewed, their exposure to carbon intensive industries including (but not only) mining, oil and gas companies. (Typically with reference to climate change.)

Climate & Net Zero Transition
Net Zero commitment (AFM companywide)

Fund / asset management organisations that have pledged to reduce their greenhouse gas emissions to ‘net zero’. Strategies vary - this area is changing rapidly.

Encourage carbon / greenhouse gas reduction (AFM companywide)

Find fund / asset management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.

Carbon transition plan published (AFM companywide)

Finds organisations / fund managers that have a company wide carbon transition plan - meaning that they have plotted a path to how they will move away from activities that produce or use carbon based energy sources (that emit greenhouse gases) towards clean, alternative, renewable energy sources.

‘Forward Looking Climate Metrics’ published / ITR (AFM companywide)

Finds organisations / fund managers that have published ‘forward looking climate metrics’ e.g. 'implied temperature rise' data that are a total of the asset management company's share (% owned) of all the investee company emissions of the assets they manage, as well as their own direct and other indirect emissions.

Carbon offsetting - offset carbon as part of net zero plan (AFM companywide)

This fund / asset management company plans to achieve net zero greenhouse gas (CO2e) emissions with the help of a scheme that will lock away an amount of carbon that is equivalent to the company’s own emissions – so that the end result is ‘net zero’. Calculations and scope vary.

In-house carbon / GHG reduction policy (AFM companywide)

Find fund / asset management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions.

Transparency
Publish responsible ownership / stewardship report (AFM companywide)

Find fund / asset management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.

Full stewardship / responsible ownership policy information on company website

Find fund / asset management companies that publish information about their sustainable and responsible investment strategies on their company website.

Full stewardship / responsible ownership policy information available on request

Find fund / asset management companies that will supply information about their sustainable and responsible investment activity on request.

Publish full voting record (AFM companywide)

Fund / asset management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.

Resources, Affiliations & Corporate Strategies:

ESG resource

Baillie Gifford has a dedicated ESG resource of over 40 people. In conjunction with the investment teams, the ESG analysts are responsible for ESG research and engagement and coordinating the proxy voting process for all our clients’ holdings where we retain the voting rights. They are also responsible for highlighting ESG risks and opportunities to the different investment strategies, monitoring companies we have holdings in, engaging with companies on ESG criteria and challenging them when appropriate.

All ESG analysts have knowledge, and a broad understanding, of global ESG matters including board composition and effectiveness, remuneration, labour practices, health and safety expectations, climate change, and other social and environmental challenges and opportunities.

When conducting our research, we have access to a range of external data providers including: BoardEx, CDP, Conflict Securities, MSCI, Sustainalytics and RepRisk to name a few. The advantage of these third-party providers is the breadth of their coverage and standardised approach. This allows for a quick understanding of areas of potential risk. However, this breadth can be to the detriment of complexity, nuance and context. They often don’t focus on the direction of travel or the ESG opportunities available to a company.

Conducting our own ESG research allows us to focus on the areas important to us. We are also able to leverage our in-house knowledge and relationships with companies and academic partners to supplement available data on ESG issues. In many cases, ESG issues have no clear right or wrong as issues evolve over time and best practice emerges from comparative approaches taken by different companies and sectors. We can use this insight to help other companies we invest in make better long-term decisions on material ESG matters.

 

ESG membership

We seek to set a positive example as an investor, as an employer and within our own communities. We aim to uphold and promote the highest standards of service and professional behaviours and to enhance the reputation of the investment industry. This also encompasses a responsibility to promote well-functioning financial markets. To support this, we are a member of several groups and industry bodies including:

  • International Corporate Governance Network (ICGN)
  • Carbon Disclosure Project (CDP)
  • Asian Corporate Governance Association (ACGA)
  • UN Global Compact (UNGC)
  • Principles for Responsible Investment (PRI)
  • UK Stewardship Code signatory
  • Japan Stewardship Code signatory
  • Investor Forum
  • Council of Institutional Investors (CII)
  • Institutional Investors Group on Climate Change (IIGCC)
  • Global Impact Investing Network (GIIN)
  • Investor Stewardship Group (US Stewardship Code, ISG US)
  • Focusing Capital on the Long Term (FCLT) Global
  • European Fund and Asset Management Association Stewardship Code (EFAMA)
  • Global Institutional Governance Network (GIGN)
  • Task Force on Climate-Related Financial Disclosures (TCFD)
  • Farm Animal Investment Risk and Return (FAIRR)
  • UK Centre for Greening Finance and Investment (CGFI)
  • EM Investor Alliance (EMIA)
  • Taskforce on Nature-Related Financial Disclosures (TNFD)
  • Sustainability Accounting Standards Board (SASB)
  • Net Zero Asset Managers initiative (NZAM)
  • Climate Action 100+

 

ESG governance

The ESG Oversight Group is responsible for setting the firm’s strategic approach to ESG matters in relation to investment strategies and client activities and, along with the head of ESG, for overseeing the ESG function. It provides coordination for the firm’s approach to ESG and the multiple strands of ESG activity that take place. It aims to ensure that the rapidly evolving demands of ESG from an investment, client and regulatory perspective are met. It is chaired by the head of ESG and comprises senior representatives from the Investment Department, Clients Department and ESG function.

The ESG Oversight Group aims to:

  • Coordinate and monitor progress towards the firm’s ESG strategy, working with the individual investment, client and operational teams.
  • Empower and encourage investors to systematically consider ESG, as relevant for the investment strategy, throughout the investment process.
  • Create and oversee ESG-related research groups and ESG professionals to ensure Baillie Gifford has sufficient specialist knowledge.
  • Oversee the different components of the ESG function to ensure they continue to meet the requirements of investors, clients and regulators.
  • Ensure accurate ESG reporting to clients.
  • Oversee the ESG Assurance Group, ensuring that Baillie Gifford is equipped to meet its regulatory requirements and honour ESG commitments made by investment teams.
  • Review and recommend any key ESG disclosures for approval or adoption by the Management Committee or any relevant Baillie Gifford entities. This includes the TCFD Climate Report, Our Stewardship Principles and Guidelines and the Investment Stewardship Activities Report.

This group reports into the Management Committee, and the Equity Leadership, Multi Asset and Income Leadership and Clients Management Groups – which include partners from investment, client facing and operational areas. These reporting lines help ensure that our research and stewardship activities are aligned with, and remain of value and relevance to, our clients.

 

ESG Assurance Group

The ESG Assurance Group is responsible for ensuring that the firm is equipped to meet its ESG-related regulatory requirements and that ESG commitments are being met. This group is comprised of individuals from our ESG function, Clients Department, Business Risk Department, Compliance Department and Legal Department. During 2023, we continued our integration of ESG into these and other operational areas. Evidence of this is the establishment of an ESG group within legal and compliance. This is an ongoing process, but important progress has been made during the year.

We have a dedicated ESG resource of over 40. In conjunction with the investment teams, the ESG resource is responsible for ESG research and engagement, coordinating and processing proxy voting. The ESG Team is responsible for highlighting ESG risks and opportunities to the different investment strategies, monitoring companies we have holdings in, engaging with companies on ESG criteria, and challenging them when appropriate.

About The Business
Responsible ownership / stewardship policy or strategy (AFM companywide)

Finds fund / asset management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.

ESG / SRI engagement (AFM companywide)

Find fund / asset management companies that actively encourage higher 'environmental, social and governance' and / or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.

Vote all* shares at AGMs / EGMs (AFM companywide)

Find fund / asset managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)

Responsible ownership / ESG a key differentiator (AFM companywide)

Find fund / asset managers that consider responsible ownership and ESG to be a key differentiator for their business.

Responsible ownership policy for non SRI / sustainable options (AFM companywide)

Find options run by managers that apply Responsible ownership or 'Stewardship' policies to all or most of their investment assets. This means active involvement (e.g. voting, dialogue) with the companies across all or most funds, products and services.

Integrates ESG factors into all / most research (AFM companywide)

Find fund / asset management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.

Invests in newly listed companies (AFM companywide)

This fund / asset management company invests in companies which have recently listed on a stock exchange (which is important as it can help grow new businesses).

Collaborations & Affiliations
PRI signatory

Find fund / asset management companies that have signed up to the UN backed 'Principles of Responsible Investment'.

TNFD forum member (AFM companywide)

A member of the Taskforce for Nature Related Financial Disclosures group which aims to aid risk management and shift money towards nature-positive outcomes.

Resources
In-house responsible ownership / voting expertise

Find fund / asset management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.

Employ specialist ESG / SRI / sustainability researchers

Find a fund / asset management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.

Accreditations
UK Stewardship Code signatory (AFM companywide)

Find fund / asset managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where managers are encouraged to behave like responsible, typically longer term 'company owners'.

Engagement Approach
Encourage responsible corporate taxation (AFM companywide)

Find fund / asset management companies that are working with the companies they invest in to encourage more responsible corporate taxation.

Engaging on climate change issues

Fund / asset manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.

Engaging on biodiversity / nature issues

The fund / asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global

Engaging on human rights issues

Fund / asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards

Engaging on labour / employment issues

Fund / asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)

Engaging on diversity, equality & / or inclusion issues

Fund / asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets

Engaging on governance issues

Fund / asset managers have stewardship strategies in place that focus on improving governance standards across investee assets

Engaging on responsible supply chain issues

Has a stewardship / responsible ownership strategy that encourages responsible supply chain - ie the managers will discuss environmental, social and governance issues with investee companies with the aim of raising standards

Split voting policy

This fund / asset manager may vote differently for different clients or regions. See fund manager stewardship policy for further information.

Stewardship escalation policy

Escalation policies describe how a manager will proceed if stewardship / engagement activity is not successful in the short term.

Company Wide Exclusions
Controversial weapons avoidance policy (AFM companywide)

Find fund / asset management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.

Review(ing) carbon / fossil fuel exposure for all funds (AFM companywide)

Find funds / asset managers that are reviewing, or have reviewed, their exposure to carbon intensive industries including (but not only) mining, oil and gas companies. (Typically with reference to climate change.)

Climate & Net Zero Transition
Net Zero commitment (AFM companywide)

Fund / asset management organisations that have pledged to reduce their greenhouse gas emissions to ‘net zero’. Strategies vary - this area is changing rapidly.

Encourage carbon / greenhouse gas reduction (AFM companywide)

Find fund / asset management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.

Carbon transition plan published (AFM companywide)

Finds organisations / fund managers that have a company wide carbon transition plan - meaning that they have plotted a path to how they will move away from activities that produce or use carbon based energy sources (that emit greenhouse gases) towards clean, alternative, renewable energy sources.

‘Forward Looking Climate Metrics’ published / ITR (AFM companywide)

Finds organisations / fund managers that have published ‘forward looking climate metrics’ e.g. 'implied temperature rise' data that are a total of the asset management company's share (% owned) of all the investee company emissions of the assets they manage, as well as their own direct and other indirect emissions.

Carbon offsetting - offset carbon as part of net zero plan (AFM companywide)

This fund / asset management company plans to achieve net zero greenhouse gas (CO2e) emissions with the help of a scheme that will lock away an amount of carbon that is equivalent to the company’s own emissions – so that the end result is ‘net zero’. Calculations and scope vary.

In-house carbon / GHG reduction policy (AFM companywide)

Find fund / asset management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions.

Transparency
Publish responsible ownership / stewardship report (AFM companywide)

Find fund / asset management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.

Full stewardship / responsible ownership policy information on company website

Find fund / asset management companies that publish information about their sustainable and responsible investment strategies on their company website.

Full stewardship / responsible ownership policy information available on request

Find fund / asset management companies that will supply information about their sustainable and responsible investment activity on request.

Publish full voting record (AFM companywide)

Fund / asset management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.

ESG resource

Baillie Gifford has a dedicated ESG resource of over 40 people. In conjunction with the investment teams, the ESG analysts are responsible for ESG research and engagement and coordinating the proxy voting process for all our clients’ holdings where we retain the voting rights. They are also responsible for highlighting ESG risks and opportunities to the different investment strategies, monitoring companies we have holdings in, engaging with companies on ESG criteria and challenging them when appropriate.

All ESG analysts have knowledge, and a broad understanding, of global ESG matters including board composition and effectiveness, remuneration, labour practices, health and safety expectations, climate change, and other social and environmental challenges and opportunities.

When conducting our research, we have access to a range of external data providers including: BoardEx, CDP, Conflict Securities, MSCI, Sustainalytics and RepRisk to name a few. The advantage of these third-party providers is the breadth of their coverage and standardised approach. This allows for a quick understanding of areas of potential risk. However, this breadth can be to the detriment of complexity, nuance and context. They often don’t focus on the direction of travel or the ESG opportunities available to a company.

Conducting our own ESG research allows us to focus on the areas important to us. We are also able to leverage our in-house knowledge and relationships with companies and academic partners to supplement available data on ESG issues. In many cases, ESG issues have no clear right or wrong as issues evolve over time and best practice emerges from comparative approaches taken by different companies and sectors. We can use this insight to help other companies we invest in make better long-term decisions on material ESG matters.

 

ESG membership

We seek to set a positive example as an investor, as an employer and within our own communities. We aim to uphold and promote the highest standards of service and professional behaviours and to enhance the reputation of the investment industry. This also encompasses a responsibility to promote well-functioning financial markets. To support this, we are a member of several groups and industry bodies including:

  • International Corporate Governance Network (ICGN)
  • Carbon Disclosure Project (CDP)
  • Asian Corporate Governance Association (ACGA)
  • UN Global Compact (UNGC)
  • Principles for Responsible Investment (PRI)
  • UK Stewardship Code signatory
  • Japan Stewardship Code signatory
  • Investor Forum
  • Council of Institutional Investors (CII)
  • Institutional Investors Group on Climate Change (IIGCC)
  • Global Impact Investing Network (GIIN)
  • Investor Stewardship Group (US Stewardship Code, ISG US)
  • Focusing Capital on the Long Term (FCLT) Global
  • European Fund and Asset Management Association Stewardship Code (EFAMA)
  • Global Institutional Governance Network (GIGN)
  • Task Force on Climate-Related Financial Disclosures (TCFD)
  • Farm Animal Investment Risk and Return (FAIRR)
  • UK Centre for Greening Finance and Investment (CGFI)
  • EM Investor Alliance (EMIA)
  • Taskforce on Nature-Related Financial Disclosures (TNFD)
  • Sustainability Accounting Standards Board (SASB)
  • Net Zero Asset Managers initiative (NZAM)
  • Climate Action 100+

 

ESG governance

The ESG Oversight Group is responsible for setting the firm’s strategic approach to ESG matters in relation to investment strategies and client activities and, along with the head of ESG, for overseeing the ESG function. It provides coordination for the firm’s approach to ESG and the multiple strands of ESG activity that take place. It aims to ensure that the rapidly evolving demands of ESG from an investment, client and regulatory perspective are met. It is chaired by the head of ESG and comprises senior representatives from the Investment Department, Clients Department and ESG function.

The ESG Oversight Group aims to:

  • Coordinate and monitor progress towards the firm’s ESG strategy, working with the individual investment, client and operational teams.
  • Empower and encourage investors to systematically consider ESG, as relevant for the investment strategy, throughout the investment process.
  • Create and oversee ESG-related research groups and ESG professionals to ensure Baillie Gifford has sufficient specialist knowledge.
  • Oversee the different components of the ESG function to ensure they continue to meet the requirements of investors, clients and regulators.
  • Ensure accurate ESG reporting to clients.
  • Oversee the ESG Assurance Group, ensuring that Baillie Gifford is equipped to meet its regulatory requirements and honour ESG commitments made by investment teams.
  • Review and recommend any key ESG disclosures for approval or adoption by the Management Committee or any relevant Baillie Gifford entities. This includes the TCFD Climate Report, Our Stewardship Principles and Guidelines and the Investment Stewardship Activities Report.

This group reports into the Management Committee, and the Equity Leadership, Multi Asset and Income Leadership and Clients Management Groups – which include partners from investment, client facing and operational areas. These reporting lines help ensure that our research and stewardship activities are aligned with, and remain of value and relevance to, our clients.

 

ESG Assurance Group

The ESG Assurance Group is responsible for ensuring that the firm is equipped to meet its ESG-related regulatory requirements and that ESG commitments are being met. This group is comprised of individuals from our ESG function, Clients Department, Business Risk Department, Compliance Department and Legal Department. During 2023, we continued our integration of ESG into these and other operational areas. Evidence of this is the establishment of an ESG group within legal and compliance. This is an ongoing process, but important progress has been made during the year.

We have a dedicated ESG resource of over 40. In conjunction with the investment teams, the ESG resource is responsible for ESG research and engagement, coordinating and processing proxy voting. The ESG Team is responsible for highlighting ESG risks and opportunities to the different investment strategies, monitoring companies we have holdings in, engaging with companies on ESG criteria, and challenging them when appropriate.

Funds

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