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Canadian Union of Public Employees Employees' Pension Plan (CEPP)

PRI reporting framework 2020

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

(Proxy) voting and shareholder resolutions

LEA 12. Typical approach to (proxy) voting decisions

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

Approach

Based on

12.2. Provide an overview of how you ensure that your agreed-upon voting policy is adhered to, giving details of your approach when exceptions to the policy are made.

The CEPP votes its proxies in accordance with SHARE's proxy Guidelines. The Guidelines apply to companies in Canada and in other countries. If it is not clear how to apply the Guidelines for a particular vote, SHARE forwards a recommendation to the CEPP Investment Committee. The investment committee makes a decision on how to vote based on what will best serve the long-term interests of Plan participants and their beneficiaries. 

CEPP's proxy voting service provider is required to provide quarterly proxy voting reports that include:

  1. A listing of all votes cast during the quarter, by security, issue and vote, indicating for each vote whether it was cast in accordance with the Guidelines or the instructions of the Investment Committee.
  2. A reconciliation of the securities in respect of which the Service Provider cast a vote during the calendar quarter with a listing, provided by the custodian, of the Fund’s security holdings during the quarter; and

  3. A statement by the Service Provider certifying that all votes cast by the Service Provider on behalf of the Fund comply with the Guidelines or the instructions of the Investment Committee. 

CEPP's Investment Committee reviews all reports submitted by the Service Provider and provides to the JBT copies of these reports as part of its regular reporting on proxy voting delegated functions. 

12.3. Additional information.[Optional]


LEA 13. Percentage of voting recommendations reviewed

13.1. Of the voting recommendations that your service provider made in the reporting year, indicate the percentage that was reviewed by your organisation, giving the reasons.

Percentage of voting recommendations your organisation reviewed

Reasons for review

other description

          CEPP reviews voting recommendations when the topic matter addressed by a resolution does not figure in SHARE's proxy voting guidelines
        

13.2. Additional information. [Optional]


LEA 14. Securities lending programme (Private)


LEA 15. Informing companies of the rationale of abstaining/voting against management

15.1. Indicate the proportion of votes participated in within the reporting year in which where you or the service providers acting on your behalf raised concerns with companies ahead of voting.

15.3. Additional information. [Optional]

SHARE, on behalf of CEPP, engages with companies ahead and after voting as part of its engagement program. In some instances, those engagements result in shareholder resolutions being filed. 


LEA 16. Informing companies of the rationale of abstaining/voting against management

16.1. Indicate the proportion of votes where you, and/or the service provider(s) acting on your behalf, communicated the rationale to companies for abstaining or voting against management recommendations. Indicate this as a percentage out of all eligible votes.

16.4. Additional information. [Optional]

In instances where SHARE, on behalf of CEPP, votes in favour of a shareholder resolution that it filed, it will follow up with the company as part of its ongoing engagement.


LEA 17. Percentage of (proxy) votes cast

17.1. For listed equities in which you 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

17.3. Additional information. [Optional]


LEA 18. Proportion of ballot items that were for/against/abstentions

18.1. Indicate whether you track the voting instructions that you or your service provider on your behalf have issued.

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

Voting instructions
Breakdown as percentage of votes cast
For (supporting) management recommendations
58 %
Against (opposing) management recommendations
42 %
Abstentions
0 %
100%

18.3. In cases where your organisation voted against management recommendations, indicate the percentage of companies which you have engaged.

18.4. Additional information. [Optional]


LEA 19. Proportion of ballot items that were for/against/abstentions

19.1. Indicate whether your organisation has a formal escalation strategy following unsuccessful voting.

19.3. Additional information. [Optional]

SHARE's engagement program evalutes unsuccessful votes on a case by case basis and utilises tailored strategies to escalate concerns, including collaborative engagement. 


LEA 20. Shareholder resolutions (Private)


LEA 21. Examples of (proxy) voting activities (Private)


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