Pension funds more likely to back shareholder-led votes, new research reveals
New research indicates that pension funds and asset owners are more likely to support shareholder-led resolutions compared to asset managers. This discrepancy raises concerns about the alignment of voting with investors' objectives on issues like climate and diversity. The study highlights significant voting gaps, particularly between European and U.K. asset owners and U.S. managers, which can undermine the stewardship efforts of asset owners.
- ▪Pension funds support sustainability-related proposals at a rate one-third higher than asset managers.
- ▪The research reveals a significant voting gap between asset owners and managers, particularly on ESG issues.
- ▪In Canada, asset owners vote in favor of social-theme resolutions nearly 23 percentage points more than asset managers.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountPension funds and other asset owners are far more likely to back shareholder-led resolutions than asset managers, according to new research that shows voting results at corporate annual meetings often fail to reflect investors’ objectives on climate, diversity and human rights.Internationally, asset owners support proposals on sustainability-related issues at about a third higher rate than the managers they retain to handle some or all of their of their portfolios.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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