In 2018, McInroy & Wood asked for the Forum’s assistance in coordinating an engagement with the standard setting agencies. With the Forum’s help, 18 investors signed a letter calling for new standards to be written which would codify best practice and equip companies to address a problem throughout their supply chain.
The British Standards Institution agreed that a standard was required, and suggested that a “Publicly Available Specification” (PAS) be sponsored to enable a fast-track delivery. Without this PAS, plastic pellets may not have been on BSI’s agenda for some time.
For the first time, investors have come together with government (Marine Scotland) and industry bodies to form an innovative multi-stakeholder co-sponsor group to deliver a new standard. In December 2019, nine investors committed to provide financial support, to commission a PAS and provide grant funding for conservation charity Fauna & Flora International to act as an expert on the steering committee on their behalf.
The investor co-sponsor group comprises:
Allianz Global Investors, Brewin Dolphin, Environment Agency Pension Fund, Generation Investment Management, LGPS Central, McInroy & Wood, Man Group, Ownership Capital, and Troy Asset Management.
For the press release announcing the formal launch of the PAS, please click here