We proactively engage with companies around specific environmental, social or governance responsibility issues, such as executive compensation, board composition, or climate change. We prioritize our engagements according to the following criteria. First, we evaluate the risk each issue poses to the market and its relevance to company strategy and performance. Next, we assess the likelihood that companies will be able to meaningfully resolve shareholder concerns about the issues. We also consider our own expertise and capacity. To aid our evaluation, we consult with internal experts, including our TIAA Investments colleagues and our dedicated board committees on Corporate Governance and Social Responsibility, who provide essential insight into our policies and activities. We also communicate with outside stakeholders, including other institutional investors, clients and potential clients, participant groups, nongovernmental organizations and industry trade associations or various organizations with an interest in the activities of TIAA Investments or our portfolio companies. Following a careful evaluation of each issue, we prioritize those topics that offer the best opportunity to positively impact the long-term value of our investments, consistent with our policy statement.