Market terminology S Stewardship Stewardship is also defined as active ownership. Please see Active ownership for the exact definition. Stewardship code A stewardship code sets out the principles of effective stewardship by investors. It aims to enhance the quality of engagement between investors and companies to help improve long-term risk-adjusted returns to shareholders. Stranded assets Stranded assets are assets which are rendered worthless or are unexpectedly devalued. The devaluation may be caused by a number of issues such as regulatory, economic or market change, technological substitution, price and demand, supply issues or cost structure. In order to limit global warming, a large proportion of existing fossil fuel reserves will be stranded and as such remain in the ground and impaired. Sustainability There is no universally agreed definition on what sustainability means. The most commonly used definition is the one from the Bruntland Report for the World Commission on Environment and Development (1992): “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Sustainability bonds Sustainability bonds are bonds where the proceeds finance a combination of both green and social projects. The Sustainability Bond Guidelines are voluntary process guidelines that recommend transparency and disclosure and promote integrity in the development of the Sustainability Bond market by clarifying the approach for issuance of a Sustainability Bond. AllianzGI Sustainable Investing – Glossary 17