UK Stewardship Code 2026, a significant overhaul by the Financial Reporting Council that redefines responsible investment governance. This updated code introduces a bifurcated reporting structure, separating a less frequent Policy and Context Disclosure from an annual, outcome-focused Activities and Outcomes Report, aiming to balance transparency with reduced administrative burden. It emphasises flexibility in applying principles across diverse asset classes, including fixed income and private markets, and significantly strengthens requirements for service providers. The new framework also prioritises market-wide and systemic risk management, such as climate change, and acknowledges the increasing role of technological innovation in stewardship practices, all while streamlining the process to enhance the UK's global competitive standing in responsible investment.