We do not believe in engagement as a separate action to be taken if and when a specific situation occurs. We believe a far more effective way is to engage with management prior to casting a vote. For example to devise a remuneration policy that investors can then support. And engagement should go beyond ad hoc situations such as strategy, purpose and human capital. Engagement should not only be reactive to “intensive-care” crises, but proactive and involve an open, regular dialogue with companies, aiming to contribute to the long term succes of the company and its stakeholders.