156. Investors can shape the transition not only by where they invest, but how they engage with the firms that they are invested in, or considering investing in - known as stewardship. Using their influence, for example through shareholder voting, investors can ensure their money supports activities aimed at reducing the carbon footprint of firms and their supply chains. The stewardship code, which sets stewardship standards for those investing money on behalf of UK savers and pensioners and promotes the responsible allocation, management, and oversight of capital to create long-term value for clients and beneficiaries, should be updated as part of its review at the end of 2023 to explicitly reflect the need to take sustainability and the transition into account.