Public HTML RI reports - Service Provider Reporting Framework 2017

BNP Paribas Securities Services

Service Provider Reporting Framework 2017

Basic Information [OO 01] Reporting Year [OO 02] Signatory category and services [OO 03 - 05]

Responsible investment policy [SG 01 - 17]

Type of reporting and assurance [REP 01] Reporting frameworks/standards/guidelines [REP 02] Incorporating ESG [REP 03] ESG in materiality analysis [REP 04]

Stewardship Services

Engagement activities in business offerings [SS 01] Sharing ESG information [SS 22]

Export Public Responses

You are in Stewardship Services » Voting

Voting

SS 14. ESG in voting recommendations

14.1. Describe how ESG is taken into consideration in voting recommendations.

          As per its custodian status, BNP Paribas Securities Services does not provide any recommendation in voting: we are in charge to inform investors/individual shareholders with voting resolutions in a neutral mode. Through our issuers services on top of our proxy collector activities, we actively encourage our clients to adopt solutions that are ESG compliant.

14.2. Provide examples

Our offering related to general meeting votes centralisation includes environmental resource reduction and improves communication between final shareholders and issuers. Indeed, we offer the possibility for issuers to make their registered investors/sherholders express their votes via our web interface: PLANETSHARES. Furthermore when electronic vote is accepted by local jurisdiction we propose issuers to access to market place system. This is the case in France by offering access to VOTACCESS: the electronic voting platform deployed in 2012 jointly by AFTI (Association Française des Professionnels des Titres) and the AMF (French Market Authority). Thanks to our offerings, investors and individual shareholders have access through an electronic platform to a large panel of documentation related to the general meeting ("documents de référence", meeting notice...), can express their votes and receive the associated electronic voting confirmation.

SS 15. Raising concerns with companies ahead of voting (Private)

SS 16. Voting model and clients’ needs

16.1. Describe the processes that are in place to ensure that your voting model takes into account the diversified needs of your clients.

          As per our custodian status, BNP Paribas Securities Services does not provide any voting model to our clients. We are in charge to inform investors/individual shareholders with voting resolutions in a neutral mode. In order to maximize voting participation regarding general meeting, our offering is built in order to meet requirements of different types of clients such as institutional investors or registered individual shareholders.

SS 17. Voting against management

17.1. Describe what ESG factors and situations would trigger you to recommend voting against management.

          As per its custodian status, BNP Paribas Securities Services does not provide any recommendation in voting: we are in charge to inform investors/individual shareholders with voting resolutions in a neutral mode.

17.2. Indicate whether you communicate the rationale to companies when you abstain or vote against management recommendations on behalf of your clients

Yes, in most cases

Sometimes, in the following cases:

We do not communicate the rationale to companies

Not applicable because we do not abstain or vote against management recommendations

17.3. Describe what subsequent actions you take after voting against management.

          As per its custodian status, BNP Paribas Securities Services does not provide any recommendation in voting: we are in charge to make informed investors/individual shareholders with voting resolutions in a neutral mode.
As per its custodian status, BNP Paribas Securities Services does not provide any recommendation in voting, we are only process our clients 'voting instructions.

SS 18. Monitoring voting outcomes

18.1. Describe how you monitor voting outcomes.

          Our offer takes into consideration any types of voting: electronic, in situ or via power of attorney (through proxy collector). Thanks to our capabilities we enlarge the scope of voters (depending on the methodology they prefer vote) and we contribute to make shareholders exercise their voting rights. A certification process is performed all along the votes' casting management so as to ensure final validity of the vote. 
Next challenges, in the frame of transparency related to voting outcome will be to create additional value by accompanying our clients, both issuers and investors, in the way they will implement associated stewardship policies.

18.2. Indicate whether you provide clients with recommendations for next steps.

Yes

18.4. If no, explain why not.

          As per its custodian status, BNP Paribas Securities Services does not provide any recommendation in voting: we are in charge to inform investors/individual shareholders with voting resolutions in a neutral mode.

SS 19. Publishing voting outcomes

19.1. Indicate whether you publish your voting outcomes.

Yes

19.2. Indicate whether you enable your clients to publish your voting outcomes.

Yes

SS 20. Mechanisms for clients to review voting recommendations

20.1. Indicate whether you have formal mechanisms in place for clients to review your voting recommendations.

Yes

SS 21. Involvement in projects to improve voting trail and obtaining confirmation

21.1. Describe your involvement in any project to improve the voting trail and/or to obtain vote confirmation.

          BNP Paribas Securities Services is involved in market initiatives so as to expand voting confirmation - this component being key for investors stewardship. It is widely recognized that the voting chain (between final investors/shareholders and issuers) is sometimes long and complex. At BNP Paribas Securities Services,we are convinced that vote confirmation can contribute to bring light in votes casting process. This is the reason why, we actively cooperates with proxy collectors in order to enhance communication protocol and to develop further vote confirmation. Our aim is to contribute to all market initiatives enabling market standard and best practices. This is the case with our active participation to current SWIFT enhancements (ISO 20022) related to voting process and including vote confirmation.

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