Reports | March 16, 2022
2021 Corporate Governance Report
The 2021 edition of our Corporate Governance Report provides a summary of the market environment for corporate governance, the 2021 proxy votes on the most common issues (including proxy voting statistics), and our 2022 proxy policy statement.
Together, this data and analysis paints a comprehensive portrait of corporate governance and our approach to proxy voting.
What's new in the report
We've made three important updates to our proxy policy statement that take effect on March 1, 2022.
- For management proposals seeking shareholder approval of climate action plans, a vote will be cast in favor for plans that include specifics on several key factors, and against plans that lack detail or ambition.
- For management proposals to approve Special Purpose Acquisition Corporation (SPAC) merger transactions, a vote will be cast in favor when the stock of the merged entity will trade at a premium to the redemption value for public shareholders, and against where it trades at a discount.
- For shareholder proposals seeking to convert a corporation into a Public Benefit Corporation (PBC), a vote may be cast in favor when the entity ensures no shareholder rights are weakened and where the entity does not subordinate financial return for the public benefit.
In addition to the updates to our proxy policy statement, the report also analyzes the effect of DOL and SEC rulings, 2021 investor initiatives on environmental, social and corporate governance (ESG), a breakdown of our proxy votes and more.
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The information and opinions herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. This article and the data and analysis herein is intended for general education only and not as investment advice. It is not intended for use as a basis for investment decisions, nor should it be construed as advice designed to meet the needs of any particular investor. On all matters involving legal interpretations and regulatory issues, investors should consult legal counsel.
