Appendixes
48
COMPANY DATE OF VOTE
SUMMARY
OUR VOTE
RATIONALE FOR THE VOTING DECISION
OUTCOME
Nordea co-filed this precatory pro- posal requesting that ExxonMobil reports on how the company's direct and indirect lobbying aligns with the Paris Climate Agreement goals. The company and its share- holders are likely to benefit from such a review, especially in light of the increasing risks to the company related to climate change. Following low support for this proposal for consecutive years, the compensation committee engaged with shareholders but did not make any material changes to the pay program, indicating poor respon- siveness. We think that bonuses and share based incentives only should be paid when management reach clearly defined and relevant targets which are aligned with the interest of the shareholders. At the Alphabet AGM we sup- ported a number of shareholder proposals, besides Report on risks related to anticompetitive practic- es, such as Require Independent director nominee with human and/ or civil rights experience, report on takedown requests and report on whistle-blower policies and practic- es. Management voting recommen- dations was against on all these proposals. The dominant position of Google, its impact on society and integrity of individuals is very important for us as investors. Sergei Shatalov is Chair of Strategy, Investment and Sustainability and we have , together with other Investors, engaged with the company since 2017 due to poor human rights performance but with little progress. We supported this proposal since it is consistent with our focus on climate change and aim to achieve net zero by 2050.
Report on Climate Lobbying (shareholder proposal)
ExxonMobil
26-May-21
FOR
FOR
Advisory vote to ratify named executive officers' compensation
Netflix
03-Jun-21
AGAINST
FOR
Report on risks related to anticompetitive practices (shareholder proposal)
Alphabet
02-Jun-21
FOR
AGAINST
Elect Sergei Shatalov as Director
LUKOIL
24-Jun-21
AGAINST
FOR
For Topdanmark to join the International Investor coalition Net Zero Asset Owner (shareholder proposal)
Topdanmark 21-Mar-21
FOR
AGAINST
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