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Impax Asset Management

PRI reporting framework 2017

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Overview

LEA 17. Voting policy & approach

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17.1. Indicate whether your organisation has a formal voting policy.

17.2. Indicate what your voting policy covers:

17.4. Provide a brief overview of your organization’s approach to (proxy) voting.

Proxy voting is a key component in the ongoing dialogue with our companies. We are committed to ensuring consistent exercise of voting rights associated with shares held in investment mandates where proxy voting has been delegated to us. Through implementation of our voting policy, we aim to enhance the long-term value of our shareholdings and to foster corporate governance best practices.

Impax’s policy is to vote all shareholder meetings and on all shares held on behalf of all our investors who have granted us the voting rights. In some markets there are costly and administratively burdensome Powers of Attorney rules that may in some rare events prevent effective voting.

Impax has developed a governance framework, as part of our ESG-analysis, which is driven by country-level governance rules, codes and best practice. We analyse whether companies’ governance structures deviate from local governance codes or best practise. Where companies deviate from codes and best practice, we engage with the companies and can vote against a management resolution. We always endeavour to notify a company prior to AGM, or at least afterwards if we have voted against or abstained on a resolution.

In 2016 Impax voted 2,316 resolutions at 196 company meetings globally.

 

17.5. Provide an overview of how you ensure your voting policy is adhered to, giving details of your approach when exceptions to the policy are made (if applicable).

Impax’s listed equity operations, including its voting activities have been audited and received full ISAE 3402 certification (International Standards for Assurance Engagement) every year since the fiscal year ending September 30, 2012.


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