Published date: 18 March 2021

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 15 February 2021, 5pm

Contract summary

Industry

  • Research and development services and related consultancy services - 73000000

Location of contract

EC2Y 5AS

Value of contract

£46,000 to £55,000

Procurement reference

FRC2021- 005

Published date

18 March 2021

Closing date

15 February 2021

Closing time

5pm

Contract start date

15 March 2021

Contract end date

13 August 2021

Contract type

Service contract

Procedure type

Open procedure (below threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements below the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

Yes

Description

THIS IS A CONTRACT AWARD NOTICE - THIS TENDER IS CLOSED

The Financial Reporting Council sets the UK Corporate Governance and UK Stewardship Codes; sets UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries.
The UK Stewardship Code is a voluntary code for asset managers (investment managers), asset owners and service providers (such as proxy advisers, investment consultants and data providers). The Stewardship Code promotes the responsible allocation, management and oversight of capital to create long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society.
In October 2019 the FRC published the UK Stewardship Code 2020 (hereafter 'the Code'), a substantially updated version of the previous Stewardship Code, which was first published in 2010. The new Code took effect on 1 January 2020 and sets higher expectations for organisations to practice and demonstrate effective stewardship. It now contains twelve Principles for asset managers and asset owners and six for service providers. The Code has a greater emphasis on environmental, social and governance (ESG) issues and covers asset classes beyond UK listed equities.
The FRC has also introduced a new reporting process to improve the quality of information disclosed about organisations' stewardship practice. From March 2021, organisations applying to become signatories to the Code will be required to submit an annual stewardship report to the FRC. In this report signatories will explain how they have applied the Code over a 12-month period, detailing their stewardship activities and the outcomes that resulted. The FRC will assess whether Reports have met the reporting expectations of the Code. Organisations meeting the requirements will then be accepted as Code signatories. The FRC will publish the first list of signatories in summer 2021.
Purpose and Scope
The purpose of this research project is:
1) to help the FRC better understand the current stewardship practices of asset managers and asset owners in areas covered by the Code
2) to gain insight into what early changes have taken place, or are underway, in response to the introduction of the Code
The research will survey Asset Managers (AMs) and Asset Owners (AOs) to address five categories of topics: -
A. Governance and organisation of stewardship at AMs and AOs
B. Resourcing of stewardship
C. Asset class and geographical coverage
D. Changes in activities and process
E. Stewardship data collection

More information

Previous notice about this procurement

Stewardship Benchmarking Project

  • Opportunity
  • Published 18 January 2021

Attachments

Additional text

Notes:-

THIS IS A CONTRACT AWARD NOTICE - THIS TENDER IS CLOSED

Award information

Awarded date

13 March 2021

Contract start date

15 March 2021

Contract end date

31 August 2021

Total value of contract

£175,000

This contract was awarded to 1 supplier.

Minerva Analytics Ltd

Address

Guithavon House,
Guithavon Street,
Witham,
Essex,
CM8 1BJ

Reference

Companies House number: 11260966

Supplier is SME?

Yes

Supplier is VCSE?

No

Additional details

Note:
The FRC may in future decide to repeat this research in order to provide an over-time comparison (with the successful supplier). If the FRC takes up this option, it will do so before the end of 2025 (and the total expenditure will be capped at no more than £175,000). The highest possible figure is reflected in the award value.

About the buyer

Contact name

Head of Procurement

Address

8th Floor,125 London Wall
LONDON
EC2Y5AS
England

Telephone

020 7492 2300

Email

procurement@frc.org.uk

Website

www.frc.org.uk