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PRI reporting framework 2017

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LEA 17. Voting policy & approach

New selection options have been added to this indicator. Please review your prefilled responses carefully.

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

17.2. Indicate what your voting policy covers:

other description

          Region-specific policies, policies for shareholder resolutions, criteria for focus themes climate, water and land.

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.

ACTIAM exercises the voting rights attached to our clients' holdings to reflect their interests, and aims to vote at all shareholder meetings of the companies in our clients' portfolios. Accordingly, ACTIAM has developed a responsible voting policy, which is based on internationally recognised best practice guidelines in the areas of corporate governance and responsible investment.

ACTIAM adopted the International Corporate Governance Network's (ICGN) corporate governance principles as the overarching guideline on governance best practice. These principles are internationally recognised as the best practice standard in corporate governance circles. The ICGN principles reflect and endorse the OECD Principles of Corporate Governance, as well as additional guidance developed by the ICGN. ACTIAM will also follow, where appropriate, market-specific best practices as presented in country codes and other recognised best practice guidelines.

Furthermore, consistent with ACTIAM strategy and views, our Fundamental Investment Principles are applied to proposals dealing with ethical, environmental and social issues, thus encouraging corporate best practices in these areas. The Fundamental Investment Principles are based on international treaties, conventions and best practices.

 In 2016, ACTIAM voted at 98,5% of the AGMs and EGMs.

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).

In most cases, ACTIAM votes by proxy and voting is executed by a service provider, based on our own voting policy. On a few strategic occasions, ACTIAM may attend AGMs in person.

An ACTIAM analyst will be contacted by our service provider to review the voting advice of our engaged companies. In such cases, ACTIAM may apply stricter voting criteria. ACTIAM may also file or co-file shareholder resolutions in instances where companies have proven to be insufficiently responsive to regular shareholder dialogue. In 2015 we co-filed on the meetings of 3 companies that took place in 2016.

In 2016, we co-filed at 7 companies of which the meeting should take place in 2017:  Bank of New York Mellon, Chevron, ExxonMobil, ConocoPhillips, McDonald's, Tyson Foods and Hormel Foods.

We make sure our voting policy is adhered to by conducting an annual voting audit, and by disclosing all votes through a tracker on our website.