Q1 2021 spotlight on

Engaging for a greener future

ENGAGEMENT POLICY OBJECTIVES

We outline the key ESG themes which form a focus for our corporate engagement in 2021.

Highlights from Q1 2021

  • We voted at
    66
    Annual General Meetings
    +
    32
    Extraordinary General Meetings
    on behalf of our clients
  • We engaged with
    48
    companies
    for the primary purpose of raising ESG concerns
  • Examples of engagement with companies included matters such as:

    • supply chains
    • climate change
    • human capital management
    • corporate culture
    • compensation
    • energy transition
    • board effectiveness
    • succession planning
    • product safety
 

Voting profile: Q1 2021

During the quarter, we exercised our clients’ voting rights at a total of 98 shareholder meetings.

Across all regions, votes were instructed against management recommendations on 135 separate resolutions, which equated to 35.7% of the 98 meetings.

1 In favour of management on all resolutions.
2 Against management on one or more resolutions.
3 Took no action owing to share blocking.

0

took no action3

63

in favour of management1

0

abstained

35

against management2

Key issues of concern

ESG quality reviews

We conduct quality reviews analysing the separate ESG aspects of all companies our global sector analysts are considering recommending for investment. These quality reviews are undertaken by our responsible investment team who award an ESG rating score out of 10. Each quarter key issues of concern are identified and are closely monitored by our responsible investment analysts.

Lack of evidence demonstrating positive changes to corporate culture.

US executive pay practices not aligned with long-term corporate performance.

Coherent and comprehensive oversight of supply chains.

Quality

Important information

Your capital may be at risk. The value of investments and the income from them can fall as well as rise and investors may not get back the original amount invested.

Any reference to a specific security, country or sector should not be construed as a recommendation to buy or sell investments in those countries or sectors. Please note that portfolio holdings and positioning are subject to change without notice.