The British Columbia Investment Management Corp. participated in 2,225 global meeting voting sessions during the 2025 proxy season, according to its new stewardship report.
As part of its effective stewardship approach and advancement of environmental, social and governance policies, the investment organization engaged 176 portfolio companies to address material risks and opportunities. It achieved its objectives or built positive momentum with 34 per cent of the companies.
Read: BCI grows AUM to $251.6BN, returns 10% in fiscal 2025
According to the report, the BCI evaluated 789 governance-focused shareholder proposals and supported nearly half (46 per cent). It evaluated 32 climate-related proposals and supported 59 per cent of these.
Its engagement with companies was broken down between outreach (44 per cent), which includes targeted communication with a company on a specific ESG topic, comprehensive dialogue (34 per cent) and basic dialogue (23 per cent). The utilities, materials and financials sectors were the sectors most engaged by the investment organization.
The BCI also wielded its shareholder leverage against climate change by voting against several board directors for lacking climate risk oversight and disclosure or not linking climate-change targets to executive compensation.
“As an active, long-term investor, BCI has a responsibility to help position our portfolio for the risks and opportunities ahead,” said Jennifer Coulson, senior managing director and global head of ESG at the BCI, in a press release. “Every engagement, every vote and every policy submission is ultimately about protecting and growing the assets entrusted to us by our clients.”
Read: 2024 Top 40 Money Managers Report: To divest or engage?