We implement our expectation documents through company dialogue and voting. In 2022, we discussed consumer interests and data privacy at 179 and 44 company meetings, respectively. We publish which companies we have engaged with on ESG topics and our complete voting history.
As a long-term investor, we engage in regular dialogue with the companies we invest in. The aim is both to provide support and to communicate our views as an investor.
We conduct targeted engagements with companies on material sustainability issues using our expectation documents as the point of departure. We typically select groups of companies in industries exposed to specific and severe sustainability risks or opportunities.
| Themes | Companies | Progress/examples |
|---|---|---|
| Responsible marketing of infant formula | 13 consumer companies | Nestlé SA, Danone SA and Reckitt Benckiser Group PLC publish reports on responsible marketing of infant formula that describe the implementation of their policies and compliance monitoring. |
| Management of risks related to child safety online | 10 telecoms companies | BT Group PLC focuses on creating services that are safe for children rather than solely taking down content that is deemed harmful after it is already published. They are also rolling out a bespoke human rights training programme. |
Our voting at companies' annual shareholder meeting plays an important role in sageguarding the fund's assets. When voting at shareholder meetings, we consider whether the board operates effectively and whether our shareholder rights are adequately protected.
| Year | Company | Proposal | Mgmt rec | Our vote |
|---|---|---|---|---|
| 2023 | Amazon.com Inc | Commission Third Party Study and Report on Risks Associated with Use of Rekognition | Against | For |
| 2023 | Alphabet Inc | Report on Alignment of YouTube Policies With Online Safety Regulations | Against | For |
| 2023 | Alphabet Inc | Disclose More Quantitative and Qualitative Information on Algorithmic Systems | Against | For |
| 2023 | Meta Platforms Inc | Report on Human Rights Impact Assessment of Targeted Advertising | Against | For |
| 2023 | Abbvie Inc | Report on Impact of Extended Patent Exclusivities on Product Access | Against | For |
| 2023 | Regeneron Pharmaceuticals Inc | Report on Impact of Extended Patent Exclusivities on Product Access | Against | For |
Further details on our engagement across ESG is also available in our Responsible investment report.