The debate surrounding how institutional investors use proxy voting is heating up. The contention hinges on guidance the Securities and Exchange Commission released earlier this year on the activities of proxy-advisory firms. It says that when proxy-advisory firms provide proxy-voting advice to their investor clients, it counts as proxy solicitations. That, in turn, means those […]
Proxy voting played a major role in the Alberta Investment Management Corp.’s responsible investment strategy during the past year, according to its newly released annual responsible investment report for 2018-19. During the 2018/19 proxy voting season the AIMCo reviewed and approved more than 30,000 ballot items and voted on 99 per cent of 3,324 meetings […]
As the U.S. Securities and Exchange Commission moves to increase its oversight over proxy voting advisory firms, Horizons ETFs is evolving its proxy voting policies to take on a more socially responsible investing position. “We do have an obligation to our unit-holders to act in their best fiduciary interest, but we also have a socially responsible requirement as […]
The Coast Conservation Endowment Fund Foundation is implementing new shareholder proxy voting guidelines to advocate for the rights of Indigenous peoples, making it the first to its knowledge to do so in Canada. The new guidelines by Indigenous-led Coast Funds, which has $118 million assets under management, will apply the new guidelines to its Canadian […]
Institutional investors are focusing on board diversity and an increased clarity of communication with their portfolio companies, according to a new report by EY. The report, which examined investor activities during the 2019 proxy-voting season, found institutional investor pressure on companies to increase the gender diversity of their boards is beginning to take effect. As well, […]
The Pension Investment Association of Canada has written the United States Securities and Exchange Commission, noting there shouldn’t be increased regulations on proxy advisory firms as this could cost pension plans without having clear benefits. This comes in response to a roundtable the SEC held on the topic in November 2018. Topics on the agenda […]
As pension plans are engaging more often as active shareholders, some companies are beginning to chafe. One instance of pushback came after the the New York State Common Retirement Fund co-sponsored a proposal with the Church of England’s endowment fund requesting that Exxon Mobil Corp. include short-, medium- and long-term greenhouse gas reduction targets aligned with […]
The Shareholder Association for Research and Education is joining the College of Applied Arts and Technology’s new DBPlus pension plan. “As a small, non-profit organization, it’s difficult for us to access the kinds of plans that have traditionally been available to larger organizations,” says Kevin Thomas, executive director of the SHARE. “So, like other non-profits, […]
Sustainalytics, a research, ratings and analytics firm focusing on environmental, social and governance issues, is acquiring GES International, a provider of engagement, screening and fiduciary voting services to institutional investors. As ESG has become a more prominent part of institutional investing decisions, the combination of Sustainalytics’ materiality-focused ESG research and ratings with the services GES provides […]
A debate on the viability of responsible investing is bubbling underneath the reaction to a recent U.S. Senate bill, aiming to further regulate proxy voting firms. Proxy voting firms help institutional investors complete shareholder votes, analyzing data and establishing votes that are reflective of a fund’s house views, while incorporating an increasing universe of potential […]