Appendices
46
Significant votes 2025
Nordea vote
Company Name
Summary of agenda item
Rationale
Outcome of vote %
Implication of outcome
TotalEnergies
AGAINST
8.7% voted AGAINST*
Re-elect Lise Croteau as Director
We voted against due to the lack of progress on climate expectations We voted against due to the lack of progress on climate expectations We voted against due to the lack of progress on climate expectations
Escalation of our ongoing engagement
Chevron
AGAINST
5% voted AGAINST*
Elect Director Enrique Hernandez, Jr
Escalation of our ongoing engagement
Exxon
AGAINST
2.9% voted AGAINST*
Elect Director Lawrence W. Kellner
Escalation of our ongoing engagement
Ford Motor Company
FOR
6.3% FOR
Report on Efforts to Reduce GHG Emissions in Alignment with Net Zero Goals
We support the proposal as the company’s current disclosures provide insufficient transparency to properly assess the associ- ated risks and opportunities We do not support the proposal as it does not protect or enhance long-term shareholder value creation We support the management proposal as it is line with our expectations on climate We support the proposal as the company’s current disclosures provide insufficient transparency to properly assess the associated risks and opportunities We support the proposal as it is in line with our expectations on human rights We support the proposal as the company’s current disclosures provide insufficient transparency to properly assess the associated risks and opportunities
We continue to support proposals on increased reporting on emissions
AAK
AGAINST
Proposal did not pass
Approve Long-Term Incentive Program for Key Employees
A new revised program was to presented by the company at a later meeting
South32 Ltd.
FOR
90% voted for the management proposal
Approve Climate Change Action Plan 2025
We continue to support proposals on climate
The Procter & Gamble Company
FOR
13.9% FOR
Report on Efforts to Reduce Plastic Use
We will continue to support proposals on increased transparency
Chevron
FOR
10.5% FOR
Commission Third Party Assessment of Implementation of Human Rights Policy
We will continue to support proposals on human rights
Meta Platforms, Inc.
FOR
14.6% FOR
Report on Hate Targeting Marginalized Communities
We will continue to support proposals on increased transparency
Novo Nordisk
FOR
Proposal passed. Voting % not disclosed
Election of four new board members
We supported the proposals
The proposed candidates are all suitable candidates for serving on the board
* According to Swedish regulations, discharge has not been approved if more than 10% vote against. Actual numbers of votes are not dis- closed from Swedish General Meetings.
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