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Harvard University Endowment

PRI reporting framework 2018

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(Proxy) voting and shareholder resolutions

Overview

LEA 15. Voting policy & approach

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

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

15.2. Indicate what your voting policy covers:

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

URL

Attach document


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

The CCSR determines how HMC will cast its proxy votes related to environmental and social proxy proposals.  The Advisory Committee on Shareholder Responsibility (“ACSR”) submits recommendations to the CCSR regarding how HMC should vote, relying on a rich set of precedent to help inform those recommendations.  During the 2017 proxy season, the ACSR utilized Proxy Voting Guidelines to inform its recommendations with regard to voting on select environmental and social issues for which the committees’ body of precedent provides a clear indication of a voting preference.

HMC determines how to cast votes related to governance. HMC has a Proxy Voting Policy for governance-related proposals and integrated that policy into HMC's automated research and proxy voting system.  This system helps ensure that HMC votes proxies in a more consistent manner. 


Process

LEA 16. Typical approach to (proxy) voting decisions

16.1. Indicate how you typically make your (proxy) voting decisions.

Approach

Based on

16.2. 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).

As noted above, HMC determines how to cast votes related to governance. HMC has a Proxy Voting Policy for governance-related proposals and integrates that policy into HMC's automated research and proxy voting system.  This system helps ensure that HMC votes proxies in a more consistent manner.  Exceptions to the Proxy Voting Policy for governance-related proposals must be approved by ther Chief Compliance Officer.

16.3. Additional information.[Optional]


LEA 17. Percentage of voting recommendations reviewed (Not Applicable)


LEA 18. Confirmation of votes (Not Completed)


LEA 19. Securities lending programme (Private)


LEA 20. Informing companies of the rationale of abstaining/voting against management

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

20.1. Indicate whether you or the service providers acting on your behalf raise any concerns with companies ahead of voting

20.2. Indicate whether you and/or the service provider(s) acting on your behalf, communicate the rationale to companies, when , you abstain or vote against management recommendations.

20.3. Additional information. [Optional]

The CCSR, which determines how HMC votes on social and environmental proposals, publishes an annual report that is public and explains the rationale for the votes. The public report is available on the CCSR website (https://www.harvard.edu/shareholder-responsibility-committees). On occasion, the CCSR may write directly to a company to convey further information about its views on a particular issue.


Outputs and outcomes

LEA 21. Percentage of (proxy) votes cast

21.1. For listed equities where you and/or your service provider have the mandate to issue (proxy) voting instructions, indicate the percentage of votes cast during the reporting year.

Votes cast (to the nearest 1%)

100 %

Specify the basis on which this percentage is calculated

21.2. Explain your reason(s) for not voting certain holdings

21.3. Additional information. [Optional]


LEA 22. Proportion of ballot items that were for/against/abstentions

22.1. Indicate if you track the voting instructions that you and/or your service provider on your behalf have issued.

22.2. Of the voting instructions that you and/or third parties on your behalf issued, indicate the proportion of ballot items that were:

Voting instructions Breakdown as percentage of votes cast
For (supporting) management recommendations
Against (opposing) management recommendations
Abstentions
100%

22.3. Describe the actions you take in relation to voting against management recommendations.

          Votes were made in accordance with HMC's proxy voting guidelines.
        

22.4. Additional information. [Optional]

The information above represents voting instruction for all ballot items and is not limited to environmental, social and governance proxies.


LEA 23. Shareholder resolutions (Private)


LEA 24. Examples of (proxy) voting activities (Private)


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