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Strathclyde Pension Fund

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions » Outputs and outcomes

Outputs and outcomes

LEA 23. Percentage of (proxy) votes cast

23.1. 貴社やサービスプロバイダーが(代理)投票の指示を発行するマンデートを有している上場株式について、報告年度中に行った投票の割合を記載してください。

1%単位の投票率

99 %

この投票率の計算基準を明記してください

23.2. 一定の株式保有分について議決権を行使しない理由を説明して下さい:

23.3. 補足情報。[任意]

Managers might not vote proxies in markets where tendering shares to vote entails their being blocked from trading during the voting periods. We now see this very infrequently and tends to effect only small companies in emerging markets.


LEA 24. Proportion of ballot items that were for/against/abstentions

24.1. あなたの貴社では、貴社や貴社に代わって行動するサービスプロバイダーが出した議決権行使に係る指示を追跡しているかどうか明示してください。

24.2. 貴社または貴社の代理である第3者機関が出した議決権行使に係る指示について投票の割合を記載してください。

議決権行使に係る指示の対象
投票の内訳(%)
経営陣の議案に対する賛成票
89 %
経営陣の議案に対する反対票
10 %
棄権
1 %
100%

24.3. 経営陣の提案に反対票を投じた後にあなたの貴社が取る措置について記載して下さい。

          The Fund's managers will conduct follow engagement with companies where votes have been cast against management. The managers are instructed to communicate the reason for the vote against and suggest actions/changes to avoid a repeat. Where the officers are voting against management the follow-up is typically an additional phase in a collaborative engagement or initiative.
        

24.4. 補足情報。 [任意]

LAPFF recommended voting ‘For’ the shareholder recommendations filed with Anglo American, ExxonMobil, Glencore, Chevron, and Sports Direct.

LAPFF recommended opposing the resolution to approve the remuneration report at WPP


LEA 25. Shareholder resolutions

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

25.1. 貴社が直接またはサービスプロバイダーを経由して報告年度にESG関連の株主決議を提出または共同提出したかどうかを明示してください。

25.6. 補足情報。 [任意]

LAPFF encouraged member funds to co-file at four companies in total - the strategic resolutions received between 96 and 99% of the vote in support. The Sports Direct resolution received a vote in support from over half of independent shareholders.

Three were co-filed through LAPFF’s involvement in co-filing the strategic resilience resolutions to Anglo American, Rio Tinto and Glencore, and one was co-filed by a LAPFF fund with Sports Direct. LAPFF supported a shareholder resolution with National Express that was not accepted onto the AGM agenda.

The Fund voted in support of these.


LEA 26. Examples of (proxy) voting activities

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

26.1. 報告年度に貴社またはサービスプロバイダーが実行した(委任状による)議決権行使の例を提供してください。

トピックまたはESG問題
          Environment
        
意思決定者
目的

Strategic resilience resolution to encourage companies to set out their  strategic approach to global climate and energy challenges

対象範囲およびプロセス

Voted in favour of the strategic resilience reporting

結果

Company engagement and some company commitments to change their strategy analyses and reporting to account for a two degree scenario

トピックまたはESG問題
          Social
        
意思決定者
目的

Support resolution calling for independent human capital management assessment

対象範囲およびプロセス

Voted in support of this resolution on the grounds that the Company was not adequately taking measures to protect labour rights in the workplace and were not reporting adequately on the issue of workplace rights and zero hour contracts

結果

Subsequent request for engagement with the Company to further encourage action on this issue

トピックまたはESG問題
          Governance
        
意思決定者
目的

Dividend policy as it relates to climate change

対象範囲およびプロセス

Advised voting in favour of dividend policy to increase the amount authorised for capital distribution to shareholders in light of the growing potential for stranded assets and decreasing profitability associated with capital expenditures on high cost, unconventional projects.

結果

Sufficient support to re-file in subsequent year

トピックまたはESG問題
          Governance - Remuneration
        
意思決定者
目的

vote against the remuneration report at BP

対象範囲およびプロセス

Scale back bonus payments and Long Term Incentive awards to Executive Directors during the year.

結果

The remuneration report was defeated with 59% of shareholders voting against and 4% abstaining. Since the vote, the manager has engaged with the Remuneration Committee Chairman regarding its policy.

トピックまたはESG問題
          Governance - Remuneration
        
意思決定者
目的

vote against remuneration proposals for the new CEO

対象範囲およびプロセス

vote against remuneration proposals for the new CEO at Telecom Italia Group  due to concerns over the size and structure of payments which could total €40m by 2019

結果

The scheme received one of the highest levels of dissent seen in Italy this proxy season with 38% of shareholders voting against the proposal. The manager have further meetings with Telecom Italia planned and will continue dialogue with the company.

26.2. 補足情報。


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