On 25 March 2026, ACGA issued a special report: Stewardship in Asia - Frameworks, codes and practices. The report provides a comprehensive review of regulatory frameworks, stewardship and CG codes as well as practices across twelve markets in the Asia-Pacific region. Please see below for the link to the report.

Published at a pivotal moment for corporate governance in Asia, the report highlights fresh momentum in stewardship. In 2025, China introduced its first stewardship code in May, Japan updated its code in June, and Korea announced major strengthening of its Principles on the Stewardship Responsibilities of Institutional Investors in December. These developments reflect growing recognition by regulators of the important role institutional investors play in supporting governance reforms and driving long-term shareholder value.

Whilst progress is evident in several markets, the report also notes fragmentation in regulatory attention to stewardship and stakeholder practices across the region. It examines the practical realities of investor engagement in diverse local contexts, including the challenges posed by closely held companies, the important role played by the region’s major asset owners, and sets out clear recommendations to strengthen the stewardship ecosystem for investors, regulators, boards, and other stakeholders.

Building on our 2025 “Value Up, Asia” report, this new study underscores the critical role of active stewardship in promoting transparency, accountability, and sustainable governance performance across Asia-Pacific markets.

We extend our thanks to ACGA members for their valuable inputs during the research process. We hope the report serves as a practical and insightful resource for investors, regulators, and companies working to foster a healthy stewardship environment in the region.