CBRE Clarion has established its own proxy voting guidelines based on a template provided by ISS. Proxy voting guidelines are reviewed and approved by designated investment team personnel on an annual basis. In this context, particular thematic issues are identified.
Pending votes are monitored through a system maintained by ISS. When a vote is identified, the ballot is forwarded to the appropriate investment analyst for review, along with any available research or supplemental information. CBRE Clarion uses research provided by ISS and Glass-Lewis to supplement the efforts of the analyst team. The analyst makes the voting decision. If the voting decision contravenes the firm's guidelines, the decision must be approved by a designated senior member of the investment team.