Legal & General Group PLC

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Direct Lobbying Transparency

Overall Assessment	Comment	Score
Comprehensive	Legal & General Group PLC has demonstrated a comprehensive level of transparency in disclosing its climate lobbying activities. The company has clearly named specific climate policies it has engaged with, such as the 'Sustainability Disclosure Requirements (SDR) and investment labels' by the FCA, the EU's Common Agricultural Policy (CAP) reforms, and the development of a global biodiversity framework. It has also disclosed its involvement in initiatives like the UN FAO's roadmap for sustainable agriculture and land use, and its advocacy for mandatory TCFD reporting in Japan. These examples illustrate a detailed and transparent approach to identifying the policies and legislative frameworks it has engaged with. The company has also provided detailed information about its lobbying mechanisms and targets. For instance, it engaged directly with policymakers such as the US SEC, the UK Department for Business, Energy and Industrial Strategy (BEIS), and the UK Financial Conduct Authority (FCA). It has participated in consultations, co-authored papers, and joined multilateral negotiations, targeting entities like the European Commission, the UN FAO, and the Transition Plan Taskforce. Specific mechanisms include writing letters, attending meetings, and participating in technical working groups and advisory committees. These disclosures provide clarity on both the mechanisms and the policymaking bodies targeted. Furthermore, Legal & General Group PLC has been transparent about the specific outcomes it seeks through its lobbying efforts. It has advocated for reforms to align the EU's CAP with climate mitigation and biodiversity goals, mandatory corporate disclosures on biodiversity impacts, and the adoption of key OGMP features in climate disclosures. The company has also supported the introduction of microfibre filters in washing machines by 2025 and the publication of a roadmap by the UN FAO to develop sustainable food systems. These examples demonstrate a clear articulation of desired policy changes and measurable outcomes, such as enhanced transparency, biodiversity protection, and alignment with net-zero targets. Overall, the company's disclosures reflect a comprehensive and transparent approach to its climate lobbying activities.	4

Lobbying Governance

Overall Assessment	Comment	Score
Strong	Legal & General Investment Management (LGIM) demonstrates a strong governance process for climate lobbying alignment. The company engages directly with policymakers and indirectly through trade associations "to accelerate the transition to net zero," ensuring alignment with its climate strategy and commitment to net zero. LGIM has established robust governance structures, including the Investment Stewardship Committee, which "reports to LGIM's CEO and the LGIM(H) Board," and the Net Zero Working Group and Responsible Investment Oversight Committee, which "report to LGIM's Executive Committee, up to the CEO and Board." Additionally, LGIM's dedicated ESG Policy Lead collaborates across the business and with its parent company, 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." These structures indicate clear monitoring processes and accountability measures, with identified responsible parties such as the ESG Policy Lead, members of the Executive Committee, and the CEO. However, while the governance structures and alignment processes are robust, there is no mention of a published lobbying audit or detailed study of lobbying governance processes, which would further enhance transparency.	3