Aviva Investors has undertaken over 1,500 engagements with companies, recording 90 instances where it resulted in positive changes in corporate behaviours, as the company was increasing its voting and engagement activity in 2020.
According to its annual responsible investment review, the firm voted on over 72,000 resolutions at 6,457 shareholder meetings globally last year, which represented a 16% growth in a number of resolutions being voted and a 20% increase in meeting compared to 2019.
With remuneration issues being one of the most opposed, the company also voted against director elections, anti-takeover measures and auditors, with the most significant engagement outcomes being strengthening controls against objectionable content and holding the Brazilian government to account over deforestation in the Amazon.
The firm also managed to strengthen its internal environment, social, governance (ESG) research capabilities, which included launch of a proprietary ESG ratings tool and publication of over 500 internal research notes.
“The pandemic has proven to be a giant ESG stress test for the global economy and shown us that today’s challenges will not respect national borders,” Aviva Investors’ chief executive officer, Mark Versey, said.
“Investors have a vital role to play in pushing for change on society’s biggest issues, from climate change to diversity, environmental degradation to human rights. We are proud to have long been at the forefront of investor action on these issues.”
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
HESTA has slammed Woodside’s climate transition action plan, pointing to “significant” gaps.
All merger proposals will have to be approved by the consumer watchdog under the sweeping merger reforms announced by the government on Wednesday.
Add new comment