We will support the shareholder resolution asking for adoption of a proxy access right.
We support proxy access rights at US listed companies when applied with reasonable thresholds that enable shareholders to utilise the rights effectively.
We support the introduction of holding periods of up to three years and holding requirements of up to three percent, and we will accept a limit on the number of board seats to be affected by proxy access candidates if at least two seats or 20 percent of the board can be filled by such candidates.
We consider that proxy access provides shareholders with a reasonable right to propose board candidates, provides greater director and board accountability and can provide a safeguard if boards fail.
We will support the shareholder resolution asking for a report on sustainability, including water risks.
We believe that companies should disclose their water management strategy, challenges, and opportunities, reflecting both short-term and long-term investor concerns.
We believe that companies should, when relevant, develop a framework to monitor and set relevant benchmarks, key performance indicators and targets, for direct and indirect company water consumption, conservation and reuse, waste water discharge, and environmental quality. They should report on progress against such targets.
We believe that companies should also report relevant physical, regulatory or reputational water risks and responses to these, at the appropriate level of detail.
Where material risks and opportunities exist, companies should strive to report the above data for supply chains and products and services.