---
title: "Research Services - The impact of proxy voting advisors and ESG rating agencies on actions and reporting by FTSE350 companies"
ocid: "ocds-b5fd17-528e8bf6-519f-4633-bf16-dfba2a3a6ab3"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-528e8bf6-519f-4633-bf16-dfba2a3a6ab3"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-528e8bf6-519f-4633-bf16-dfba2a3a6ab3.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-528e8bf6-519f-4633-bf16-dfba2a3a6ab3.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "THE FINANCIAL REPORTING COUNCIL LIMITED"
published: "2022-08-05"
---

# Research Services - The impact of proxy voting advisors and ESG rating agencies on actions and reporting by FTSE350 companies

Buyer: THE FINANCIAL REPORTING COUNCIL LIMITED  
Current stage: Award  
OCID: ocds-b5fd17-528e8bf6-519f-4633-bf16-dfba2a3a6ab3

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## Summary

The Financial Reporting Council Limited is currently undertaking a procurement process for research services titled "Research Services - The impact of proxy voting advisors and ESG rating agencies on actions and reporting by FTSE350 companies." This tender falls under the research and development services category and is based in London (postal code: EC2Y 5AS). The procurement method is open, with a contract period starting on 8th August 2022 and ending on 17th March 2023. The deadline for submissions was 20th July 2022, and the estimated value of the contract is £55,000, with a minimum value of £45,000.

This research project presents significant opportunities for businesses involved in consultancy and research services, particularly those with expertise in corporate governance, ESG (Environmental, Social, and Governance) practices, and investor relations. SMEs and voluntary, community, and social enterprise (VCSE) organisations are particularly encouraged to participate, as they may bring innovative insights into the impact of proxy advisors and ESG ratings on corporate behaviour. Companies with experience in conducting analytical research and evaluating governance structures will be well-suited to compete for this lucrative contract.

## Notice

THIS IS A CONTRACT AWARD NOTICE The purpose of the Financial Reporting Council (FRC) is to serve the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. Each year the FRC assesses a sample of FTSE350 annual reports to examine the quality of reporting against the UK Corporate Governance Code. An important element of the assessment is the extent to which companies comply with the provisions of the Corporate Governance Code, and where they do not, the quality of their explanations. The 'comply or explain' nature of the Corporate Governance Code allows companies to adjust their approach to governance as appropriate for their business model and individual circumstances. Therefore, in some cases, non-compliance or partial compliance with the Corporate Governance Code is the right approach for a company. The FRC is also responsible for the UK Stewardship Code which sets out the Principles of good investment stewardship. Investors are asked to disclose which third parties they use to support their stewardship activities, the services provided and how they are monitored and held to account. In particular, the Stewardship Code requires signatories to state the extent to which they use the default recommendations of proxy advisors. The aim of this research project is to examine how investors' stewardship and behaviour is affected by those recommendations and ratings. This includes understanding where, and in what circumstances, engagement takes place among companies, investors, and proxy advisors/ESG ratings agencies. PURPOSE AND OBJECTIVES The objective of this research project is to answer several questions: A. What are the impacts of recommendations/ratings given by proxy voting/ESG ratings agencies on FTSE350 companies' behaviour and reporting, and investor voting decisions? This should include the impact on governance policies and practices, and on so-called "tick box" behaviour. B. What have been the processes and outcomes of engagement over the last two years among FTSE350 companies, investors, and proxy voting/ESG ratings agencies? We are particularly interested in three types of bilateral engagement: i. Between FTSE350 companies and proxy voting/ESG ratings agencies on recommendations/ratings given by the latter. ii. Between investors and proxy voting/ESG ratings agencies on recommendations/ratings given by the latter. iii. Between investors and FTSE350 companies on recommendations/ratings given by proxy voting/ESG ratings agencies. In answering this question, we would also like the appointed research team to quantify the frequency of such engagements over the last two years. C. What are the barriers to effective engagement between the parties as set out above? The purpose of this research project is to inform future policy work by the FRC or other agencies. Additional information: THIS IS A CONTRACT AWARD NOTICE

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/6b577433-5d57-4d11-840b-be9c4810db0f |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (below threshold) |
| Tender suitability | SME, VCSE |
| Awardee scale | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 5 Aug 2022 |
| Submission deadline | 20 Jul 2022 |
| Future notice date | Not specified |
| Award date | 3 Aug 2022 |
| Contract period | 7 Aug 2022 - 17 Mar 2023 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £55,000 |
| Lots value | Not specified |
| Awards value | £49,000 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | THE FINANCIAL REPORTING COUNCIL LIMITED |
| Locality | LONDON |
| Post town | Central London |
| Postcode | EC2Y 5AS |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | City of London |
| Electoral ward | Bassishaw |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | MORROW SODALI |

## CPV Codes

### Divisions

- 73 - Research and development services and related consultancy services

### Codes

- 73000000 - Research and development services and related consultancy services

## Release History

- 5 Aug 2022 at 10:35 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/6b577433-5d57-4d11-840b-be9c4810db0f
- 22 Jun 2022 at 15:09 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/ee81f2e4-e09e-4598-b0c3-ace6d38258da

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/6b577433-5d57-4d11-840b-be9c4810db0f
  5th August 2022 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/ee81f2e4-e09e-4598-b0c3-ace6d38258da
  22nd June 2022 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/b2436318-e9ef-4e6b-abb5-dceb2f03adfc
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/b760bd9f-7fc1-4e8c-988b-bb0e26545952

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-528e8bf6-519f-4633-bf16-dfba2a3a6ab3. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-528e8bf6-519f-4633-bf16-dfba2a3a6ab3.json.