Arabesque is currently part of various collaborative initiatives via ClimateAction100+, Share Action and the Investor Decarbonisation Initiative. The obvious benefit of collaboration is the leverage you gather by combining the AUM of various asset managers and owners. Collaborative initiatives provide space for idea sharing, combined analysis and fosters an environment of financial institutions working towards the same goal. Collaborative engagement: Investor engagement campaigns are likely to be more effective when supported by larger number of financial institutions.Our sustainability team monitors the votes on daily basis and consults the Arabesque Sustainability Committee. At Arabesque, we cast votes for companies in all our funds and in line with ESG Voting Policy. The fund behind the Exxon engagement campaign held only 0.02% of the company but was able to create significant changes at the top management. Therefore, we need the largest shareholders to act and smaller shareholders to voice their concern too. For example, in 2021, investors voted out 3 of the 12 Exxon Mobile Board Directors due to their unsuitable experience to lead the oil giant in the transition to a low-carbon economy. The power of proxy battles should not be underestimated. However, not all votes get cast as many can get lost in passive products – leading to the loss of shareholders having a say in company’s decisions.
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