Royal Bank of Canada
Ticker: RY
Meeting date: 11/04/2024
Meeting type: Annual
| Proposal | Mgt rec | Vote | |
|---|---|---|---|
| Management proposals | |||
| 1.1 | Proposal Elect Director Mirko Bibic | Mgt rec For | Vote For |
| 1.2 | Proposal Elect Director Andrew A. Chisholm | Mgt rec For | Vote For |
| 1.3 | Proposal Elect Director Jacynthe Cote | Mgt rec For | Vote For |
| 1.4 | Proposal Elect Director Toos N. Daruvala | Mgt rec For | Vote For |
| 1.5 | Proposal Elect Director Cynthia Devine | Mgt rec For | Vote For |
| 1.6 | Proposal Elect Director Roberta L. Jamieson | Mgt rec For | Vote For |
| 1.7 | Proposal Elect Director David McKay | Mgt rec For | Vote For |
| 1.8 | Proposal Elect Director Amanda Norton | Mgt rec For | Vote For |
| 1.9 | Proposal Elect Director Barry Perry | Mgt rec For | Vote For |
| 1.10 | Proposal Elect Director Maryann Turcke | Mgt rec For | Vote For |
| 1.11 | Proposal Elect Director Thierry Vandal | Mgt rec For | Vote For |
| 1.12 | Proposal Elect Director Frank Vettese | Mgt rec For | Vote For |
| 1.13 | Proposal Elect Director Jeffery Yabuki | Mgt rec For | Vote For |
| 2 | Proposal Ratify PricewaterhouseCoopers LLP as Auditors | Mgt rec For | Vote For |
| 3 | Proposal Advisory Vote on Executive Compensation Approach | Mgt rec For | Vote For |
| Shareholder proposals | |||
| 1 | Proposal SP 1: Disclose Clean Energy to Fossil Fuel Financing Ratios Vote rationale: We will not support a shareholder proposal that appears to be overly prescriptive in regard to the company’s strategy and/or operations, or that sets unrealistic timeframes, targets or methods for implementation. Global Voting Guidelines Shareholder proposals on sustainability | Mgt rec Against | Vote Against |
| 2 | Proposal SP 2: Report on Impact of Oil and Gas Divestment Vote rationale: We will not support a shareholder proposal that appears to be overly prescriptive in regard to the company’s strategy and/or operations, or that sets unrealistic timeframes, targets or methods for implementation. Global Voting Guidelines Shareholder proposals on sustainability | Mgt rec Against | Vote Against |
| 3 | Proposal SP 3: Disclose the CEO Compensation to Median Worker Pay Ratio on an Annual Basis | Mgt rec Against | Vote Against |
| 4 | Proposal SP 4: Hold Annual Meetings of the Company in Person with Virtual Meetings as Complements | Mgt rec Against | Vote Against |
| 5 | Proposal SP 5: Disclose Non-Confidential Information Relating to the Bank's Country-by-Country Reporting | Mgt rec Against | Vote Against |
| 6 | Proposal SP 6: Report on Loans Made by the Bank in Support of the Circular Economy Vote rationale: We will not support a shareholder proposal that does not address a material sustainability risk or salient issue for the sector. Global Voting Guidelines Shareholder proposals on sustainability | Mgt rec Against | Vote Against |
| 7 | Proposal SP 7: Advisory Vote on Environmental Policies Vote rationale: We will not support a shareholder proposal that appears to be overly prescriptive in regard to the company’s strategy and/or operations, or that sets unrealistic timeframes, targets or methods for implementation. Global Voting Guidelines Shareholder proposals on sustainability | Mgt rec Against | Vote Against |
Disclaimer
This page contains certain information as to the voting intentions of Norges Bank in its role as manager of the Government Pension Fund Global. This disclosure is provided to promote transparency as to Norges Bank’s engagement with investee companies, and in view of its approach to responsible investing. Norges Bank’s voting intention is an internal decision and has not been agreed with any third party. Please note the following:
- This disclosure is provided for information purposes only. It does not constitute advice and should not be taken as a recommendation or an instruction on any matter, including whether any relevant third party should buy, sell or retain shares, or how any third party should exercise any voting rights they may have. Any person who wishes to obtain advice should seek this from a professional adviser. This disclosure is not a proxy solicitation and is not intended to influence the vote of other shareholders.
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- Any information in this disclosure is subject to change without notice. In particular, be aware that Norges Bank’s intentions and the holdings of the Government Pension Fund Global may change over time and, to the extent permitted by applicable law, Norges Bank disclaims any responsibility to update this information as a result of such changes or for any other reason.
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