We encourage companies to consider the sensitivity of their long-term business strategy and profitability to different future regulatory and physical climate scenarios. The scenarios should include low-emissions scenarios incorporating countries’ expressed national, bilateral or international climate commitments and ambitions. One such scenario should consider the successful implementation of policies to limit the likelihood of temperatures rising above 2 degrees Celsius. We support the integration of relevant climate change challenges and opportunities in a company’s business management, such as investment planning, risk management, and reporting.
We commend the board’s willingness to support this shareholder proposal and commitment to improving climate change disclosure.
TransCanada Corporation Resolutions
|NUMBER||PROPOSAL||MANAGEMENT RECOMMENDATION||VOTING INTENTION|
|NUMBER1.1||PROPOSALElect Director Kevin E. Benson||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.2||PROPOSALElect Director Stephan Cretier||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.3||PROPOSALElect Director Russell K. Girling||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.4||PROPOSALElect Director S. Barry Jackson||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.5||PROPOSALElect Director John E. Lowe||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.6||PROPOSALElect Director Paula Rosput Reynolds||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.7||PROPOSALElect Director Mary Pat Salomone||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.8||PROPOSALElect Director Indira V. Samarasekera||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.9||PROPOSALElect Director D. Michael G. Stewart||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.10||PROPOSALElect Director Siim A. Vanaselja||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER1.11||PROPOSALElect Director Thierry Vandal||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER2||PROPOSALApprove KPMG LLP as Auditors and Authorize Board to Fix Their Remuneration||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER3||PROPOSALAdvisory Vote on Executive Compensation Approach||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
|NUMBER4||PROPOSALSP 1: Report on Climate Change||MANAGEMENT RECOMMENDATIONFor||VOTING INTENTIONFor|
Important legal notice
Norges Bank Investment Management’s approach to responsible investing includes disclosing our voting decisions, in some cases in advance of the relevant meeting. This is only intended to provide information and is not solicitation or encouragement as to how others should vote. This disclosure is not investment research, advice or recommendation. Norges Bank Investment Management’s voting intention is an internal decision and has not been agreed with any other shareholders. Norges Bank Investment Management is not subject to any prohibition on dealing after the publication of this disclosure. Norges Bank Investment Management’s holdings and holdings available for voting from time to time may differ from those set out in lists of holdings as of year-end.