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PRI reporting framework 2017

Export Public Responses

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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:

17.3. Attach or provide a URL to your voting policy. [Optional]

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

OPTrust exercises the voting rights for public securities held within our portfolios.  We look to international standards and initiatives to form our guidelines, particularly when it comes to environmental and social issues. These include ILO conventions, OECD guidelines, UN Global Compact and best practices endorsed by corporate governance associations such as ICGN and CCGG. Given corporate governance practices differ across markets, we will at times vote on a case-by-case basis.

OPTrust uses an external proxy voting service provider to research and vote the majority of our proxies according to OPTrust's proxy voting guidelines which are reviewed annually. These votes are processed electronically on our behalf. Resolutions or shareholder proposals are closely examined to ensure that voting criteria and guidelines are consistently met. OPTrust has internal staff resources who are dedicated to monitoring the proxy voting process and who also regularly review the vote record to ensure that this voting process is followed. 

OPTrust  share lending agreements require lenders to recall all shares that are out on loan before the record date, on a best efforts basis, in order for OPTrust to vote the proxies associated with the shares.

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).

We monitor regularly and will spot check meetings throughout the year to ensure votes are cast accurately.