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Eskom Pension and Provident Fund

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 Fund actively manages its proxy voting process. Every vote cast is monitored and systematically compared with the Fund's policy. The Fund uses an online system to monitor all votes before they are cast and to veto voting decisions. In the event of exceptions, these are discussed with the proxy voting service provider and the Fund exercises its veto rights. 

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

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.

15.2. Indicate the reasons for raising your concerns with these companies ahead of voting.

15.3. Additional information. [Optional]


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.

16.2. Indicate the reasons why your organisation would communicate to companies, the rationale for abstaining or voting against management recommendations.

16.3. In cases where your organisation does communicate the rationale for abstaining or voting against management recommendations, indicate whether this rationale is made public.

16.4. Additional information. [Optional]


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
82 %
Against (opposing) management recommendations
18 %
Abstentions
0 %
100%

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

25

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.

19.2. Indicate the escalation strategies used at your organisation following abstentions and/or votes against management.

19.3. Additional information. [Optional]


LEA 20. Shareholder resolutions

20.1. Indicate whether your organisation, directly or through a service provider, filed or co-filed any ESG shareholder resolutions during the reporting year.

20.7. Additional information. [Optional]


LEA 21. Examples of (proxy) voting activities

21.1. Provide examples of the (proxy) voting activities that your organisation and/or service provider carried out during the reporting year.

ESG Topic
Diversity
Conducted by
Objectives
  • Asses the independence and effectiveness of nomination committees
  • Approach the Nominations committee to provide abridged CVs of the directors whose names are being put forward for re-election including an appropriate motivation as to the value that the individual directors concerned will contribute to the board
  • Ask the nomination committee whether the qualifications and background profile of the directors whose names are being put forward for election have been verified
  • Ask companies to disclose any actual and/or potential conflict of interests and to motivate the director’s independent status
  • Rigorously assess the skills and expertise of the directors and their suitability to sit on the board and the committees concerned. 
  • New director appointments should consider current board mix and seek to enhance available skill and expertise.

 

Scope and Process
  • Asses the independence and effectiveness of nomination committees
  • Approach the Nominations committee to provide abridged CVs of the directors whose names are being put forward for re-election including an appropriate motivation as to the value that the individual directors concerned will contribute to the board
  • Ask the nomination committee whether the qualifications and background profile of the directors whose names are being put forward for election have been verified
  • Ask companies to disclose any actual and/or potential conflict of interests and to motivate the director’s independent status
  • Rigorously assess the skills and expertise of the directors and their suitability to sit on the board and the committees concerned. 
  • New director appointments should consider current board mix and seek to enhance available skill and expertise.
  •  
Outcomes
ESG Topic
Company leadership issues
Conducted by
Objectives
  • Approach the nominations committees of the JSE companies and nominate potential women directors
  • Maintain and cultivate a database of female directors
  • Encourage boards and nomination committees to look at diversity from a much wider perspective as it contributes to corporate performance
  • Vote in favour of resolutions that will enhance board diversity
  • Motivate for new crop of directors
  • Cultivate a pool of new directors in conjunction with other shareholders
Scope and Process
  • Approach the nominations committees of the JSE companies and nominate potential women directors
  • Maintain and cultivate a database of female directors
  • Encourage boards and nomination committees to look at diversity from a much wider perspective as it contributes to corporate performance
  • Vote in favour of resolutions that will enhance board diversity
  • Motivate for new crop of directors
  • Cultivate a pool of new directors in conjunction with other shareholders
Outcomes
ESG Topic
Diversity
Conducted by
Objectives
  1. Increase number of BBBEE directors of the board of the JSE companies
  2. Effective boards with a diverse and an appropriate range of skills, expertise and perspectives
  3. Cultivate BBBEE slate of directors
Scope and Process
  • Approach the nominations committees of the JSE companies and nominate potential BBBEE directors
  • Maintain and cultivate a database of BBBEE directors
  • Encourage boards and nomination committees to look at diversity from a much wider perspective as it contributes to corporate performance
  • Vote in favour of resolutions that will enhance board diversity
  • Motivate for new crop of directors
Outcomes

21.2. Additional information. [Optional]


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