13 January 2022 State Street Global Advisors' key stewardship issues for in 2022 will be accelerated action on climate change and board diversity. 2019 Global Stewardship Report. BlackRock, State Street and Vanguard recently updated their proxy voting guidelines to reflect evolving priorities and challenges related to sustainability, diversity and inclusion, and human capital management. Over the past two months, both BlackRock Investment Stewardship ("BlackRock") and State Street Global Advisors ("SSGA") have released updates to their proxy voting policies. View the proxy voting record for ETF's during the period July 1, 2020 through June 30, 2021. Risk. Benchmark policy is also proposed to expand to apply the expectation of at least one woman on the board to . Our strategy focuses on building on our strong core, achieving a digital enterprise, investing in opportunities and optimizing our capital. State Street will vote against responsible directors if (i) companies in the S&P 500 and FTSE 100 do not have a person of color on their boards, (ii) companies in the S&P 500 and FTSE 100 do not disclose the racial and ethnic diversity of their boards, and (iii) companies in the S&P 500 do not disclose their EEO-1 reports. [1 . Investor Relations. Given the SEC's recent revisions to guidance regarding shareholder resolutions, it's likely that many more proposals targeting climate change, diversity and inclusion, and other hot-button social issues will come to a vote. Record High Support in 2021. However, Proxy Voting Policy and Procedures. Following the item number is a brief title of the proposal. Investment Stewardship is central to BlackRock's fiduciary responsibility to our clients to advance their long-term economic interests. State Street Global Advisors. held at its home office, 1295 State Street, Springfield, Massachusetts, on Wednesday, April 13, 2022, at 2:00 p.m. local time. ISS to: (1) act as our proxy voting agent (providing State Street Global Advisors with vote execution and administration services), (2) assist in applying the Guidelines, (3) provide research and analysis relating to general corporate governance issues and specific proxy items, and (4) provide proxy voting guidelines in limited circumstances. To ensure that the proxies are voted in the best interests of . This proxy season, SSGA will also vote against directors of S . Resolutions that are known to have been settled, withdrawn, or excluded from final proxy statements have been excluded from this list, and as additional . Our general proxy voting policy (effective February 1, 2022) that applies to all European-domiciled companies, followed by country specific policies for the UK, Ireland, the Crown Dependencies (Jersey, Guernsey and the Isle of Man) and Germany. To manage these challenges, and more, we've implemented a long-term strategy to support our stakeholders employees, clients, communities and shareholders. This Request for Proposals ("RFP") includes the following: . 12/31/2019. We steward the assets of more than 30 million investors worldwide. Cancel. Updates From the SEC To see all vote results from the 2022 proxy season and learn more, visit Proxy Monitor. Comprising the most influential group of institutional investors, the Big Three is estimated to constitute the largest shareholder in approximately 88 percent of S&P 500 companies, with an estimated ownership . Uncovering Conflict of Interest. 4/6/2021. ACTION ITEM 2.Review and Update of Proxy Voting Guidelines 2022 Proxy Voting Guidelines - Update Memo to CG-5-17-22 - Page7 . 4/5/2019. For institutional investors, the unofficial theme of the 2022 proxy season when it comes to ESG could be "less talk, more action." A 2022 proxy preview released by shareholder advocacy group As . 2020 Proxy Statement. 6 state street will vote against responsible directors if (i) companies in the s&p 500 and ftse 100 do not have a person Graphics are inclusive of only those votes executed through the ProxyExchange platform. As detailed in its most recently published proxy voting guidelines, As You Sow . In 2022, State Street will vote against the Chair of the Compensation Committee of an S&P 500 company that fails to disclose its EEO-1 report. Overboarding In 2022, we will vote against the Chair of the Nominating & Governance Committee at companies in the S&P 500 and FTSE 100 that do not have at least 1 director from an underrepresented community on . State Street Global Advisors is evolving its proactive and targeted approach to engagement, prioritizing climate change, human capital management (HCM) and diversity equity and inclusion, and expanding its stewardship team . In our recent 2022 Proxy Season Preview report, we flagged shareholder proposals on racial equity / civil rights audits as ones that might move into the "red zone" of a high likelihood of going to a shareholder vote and rising support from shareholders at an annual meeting.Even though wording may vary, these proposals typically request an independent audit of companies' practices related . The purposes of these proxy voting policies are to (1) establish a framework for Geode's analysis and decision-making with respect to proxy voting and (2) set forth operational procedures forGeode's exercise of proxy voting authority. Sustainable Investing Policy. ISS evaluates shareholder proposals on a case-by-case basis. II. The ESG Research Team examine proxy proposals on their merits and offer voting recommendations in the interest of our clients, primarily guided by the expected impact on long-term risk-adjusted returns and supporting shareholder rights. When voting proxies, Dimensional 1 seeks to act in the best interests of the funds and accounts Dimensional manages and consistent with applicable legal and fiduciary standards. Our four principles of governance guide our approach to proxy voting, engagement, and advocacy. Who May Vote In 2022, SSGA is implementing the following voting policies: SSGA will vote against the nominating committee chair at S&P 500 and FTSE 100 companies that do not have at least one director from an underrepresented racial or ethnic community. Fidelity maintains the flexibility to vote individual guidelines in voting proxies and our Stewardship Principles serve as the foundation for these guidelines. Actual proxy voting records may differ for other clients. Goldman Sachs 2021 Annual Report . At the right, you'll find the current and prior years' editions. Focus on Board Diversity Disclosure. The fundamental precept followed by Northern Trust in voting proxies is to confirm that the manner in which shares are voted is in the best . CPA worked with Proxy Insight to examine the 69 investors' votes across the 2018-2020 proxy seasons. BlackRock is offering shareholders representing 40% of its $4.8 trillion in index assets the ability to vote their own shares at this year's slate of public company annual meetings . Our evaluation of proxies reflects information from many sources, including management or shareholders of a company presenting a proposal and proxy voting advisory firms. The CalPERS proxy voting guidelines provide an overview of our general philosophy and approach to the most important and commonly presented proxy voting items. State Street seeks 30% women directors on larger company boards by 2023 - State Street's updated guidelines require all companies to have at least one woman on their board. Vote results for the 2021 proxy calendar reflect a changed landscape. ISS invites views from all interested market constituents on 16 proposed voting policy changes for 2022 and beyond, across a number of different regional and market policies. 2022 Outlook: Caron's Corner: Consilient Observer: Global Equity Observer: . The ISS updates are available here and will apply for shareholder meetings held on or after February 1, 2022 . Akin Gump has put out the following client alert breaking down these changes which are primarily focused on diversity and inclusion and climate risk disclosures. Reminders for Preparing the Form 10-K Amendments to MD&A and Certain Financial Disclosures. 04/13/2022. During the 2022 season, we will continue our efforts and make strides on our priorities. Throughout this season, you can see how CalPERS votes at specific companies by visiting our Notable Proxy Votes webpage. One idea we are considering to go into effect for the 2022 proxy season is to provide more guidance within our policy . Our proxy voting guidelines should be read in conjunction with the CalPERS Governance & Sustainability Principles. ICCR has published the Proxy Resolutions and Voting Guide annually since 1974. In December, BlackRock released its 2021 proxy voting guidelines together with a report summarizing its stewardship expectations for the coming year. Monday, December 13, 2021. "They do it in other organizations you know. Proxy Statement for 2022 Annual Meeting of Shareholders. Portfolio Companies State Street Global Advisors Proxy Voting Agenda for 2022 Key Action Items ISS' and Glass Lewis' board gender and racial/ethnic diversity policies are in full effect in 2022 for Russell 3000 companies and in certain cases are set to State Street Global Advisors CEO on ESG in the 2022 Proxy Voting Season JUST Capital State Street Global Advisors' CEO and Head of Asset Stewardship Talk Proxy Season, the State of Energy Amid Ukraine War, and the Future of ESG by Richard Feloni March 10, 2022 Categories ESG Investing Leadership Series Russia-Ukraine The JUST Interview Proxy Voting Records. There's such . Call (212) NO-WASTE. See 2022 vote results for all shareholder proposals, and all management Say on Pay proposals, for the largest 250 U.S. public companies, as ranked by Fortune magazine. on diversity, starting in 2022, state street expects each of its portfolio companies to have at least one woman on the board of directors, and in 2023 will increase this requirement to 30% women for companies in major indices. You can also learn more about guidelines, principles, and disclosures on our Proxy Voting webpage. i These Proxy Voting and Engagement Guidelines are also applicable to SSGA Funds Management, Inc. 3. In 2022, State Street will vote against the Chair of. ProxyMonitor.org is a unique, publicly available database that tracks shareholder proposals in real time. CalPERS Proxy Voting Guidelines . 2019 Proxy Statement. At the Annual Meeting, those participating virtually or by proxy will be asked to vote on the election of three Directors, one for a four-year term and two for a one-year term. period, for meetings on or after Feb 1st, 2023, U.S. The 69 investors identified were those in the Proxy Insight database that cast votes on at least five CPA model-resolutions in each of the last three proxy seasons and were among the 100 largest investors by global assets under management. We conduct an annual due diligence meeting with the Proxy Service to review the processes and procedures the Proxy Service follows when making proxy voting recommendations based on the Guidelines and to discuss any material changes in the services, operations, staffing or processes. These money managers encourage major public companies to actively GENERAL PROXY VOTING GUIDELINES To promote consistency in voting proxies on behalf of our clients, we follow this Policy (subject to any exception set forth herein). CalPERS Proxy Voting Guidelines 1 Introduction 1 Director Elections 2 Contested Elections 4 Compensation 4 Capital Structure 6 Auditor and Audit -Related Issues 7 Other Issues 7 Shareholder Proposals 8 Governance Proposals 8 . A summary of the changes can be downloaded at the link below: Rep. Mark Amodei (R-Nevada) says it is a useful tool. Key Voting Policies for 2020 and the Considerations for Boards. . You can also learn more about guidelines, principles, and disclosures on our Proxy Voting webpage. The Proxy Committees escalate to the AM Business Control Committee and/or the AM Bank Fiduciary Committee for issues and errors while strategy related matters for escalation will be escalated to the Proxy Voting Guideline Updates for BlackRock and State Street. The U.S. research team provides proxy analyses and voting recommendations for the common shareholder meetings of U.S. - incorporated companies that are publicly-traded on U.S. exchanges, as well as certain OTC companies, if they are held in our institutional investor clients' portfolios. Beginning 2022, SSGA will take voting action against independent directors at companies in the S&P 500 that are underperformers based on their R-Factor scores and have not shown positive momentum in the previous two years. Our principles and philosophy. For companies listed in major indices, starting in the 2023 proxy season, State Street expects boards to be comprised of at least 30% women directors. Proxy voting policy for U.S. portfolio companies. New York, NY 10007. According to the Interfaith Center on Corporate Responsibility, members have filed 436 shareholder resolutions in 2022, versus 244 at this time last year. Proxy advisory services, Institutional Shareholder Services (ISS) and Glass Lewis, recently issued updates to their respective voting policies for the 2022 proxy season . View vote results for all the 2022 hot button issues, including . January 20, 2022 Shirley Westcott In his annual letter to portfolio companies, State Street Global Advisors (SSGA) CEO Cyrus Taraporevala outlined SSGA's stewardship and proxy voting agenda for 2022 which will primarily focus on climate change and board and workforce diversity. Export. In its 2022 policy updates and voting guidelines, ISS included updated policies for climate-related proposals to reflect increased shareholder concern on climate risks. February 2020. for proxy voting decisions. State Street may vote "against," or "withhold" votes from, the chair of the nominating/governance committee: Beginning in 2022, for companies in all markets, if there is not at least one female director on the board; and Beginning in 2023, at Russell 3000 companies, if the board does not have at least 30% female directors. Issued: March 1, 2022 Deadline: March 31, 2022, 4:00 p.m. In 2022, State Street will vote against the Chair of the Compensation Committee of an S&P 500 company that fails to disclose its EEO-1 report. Last year, the ICCR reported, 23 . 2019 Stakeholder Report. BlackRock Investment Stewardship Proxy voting guidelines for U.S. securities | 6 The independent chair or lead independent director and/or members of the nominating/governance committee, where a board fails to consider shareholder proposals that receive substantial support, and the proposals, in our view, have a material impact on the business, shareholder rights, or the This information is updated annually as of June 30 and publicly available by no later than August 31. Proxy Voting Policy and Procedures Geode Capital Management, LLC January 2021 1 . Management's stewardship activities with oversight of proxy voting and engagement practices. BOSTON-- (BUSINESS WIRE)-- State Street Corporation (NYSE: STT) announced today that it has begun working with Capital Group on servicing of the investment management firm's first actively managed exchange traded . . We vote our proxies in a manner consistent . Proxy Voting and Procedures Proxy Voting Procedures. Proxy voting became an option for lawmakers in 2020 for public health reasons. . Nasdaq now requires its listed companies, no later than August 8, 2022, to provide . Our 2022 Proxy Resolutions and Voting Guide presents the 436 resolutions filed by ICCR members whether as lead or co-filer as of February 16. We do this through engaging with the companies our clients are invested in, voting proxies for those clients who have given us authority, and promoting sound governance and responsible leadership as an informed, engaged shareholder. With institutional investors owning more than half of all U.S. companies and index funds emerging as the dominant institutional owners, understanding the viewpoints and proxy voting guidelines of key investors and advisers is a governance imperative. by renholding. Principles and philosophy. Maryland State Retirement and Pension System 120 E. Baltimore Street, 16th Floor, Board Room Baltimore, Maryland 21202 Tuesday, 5/17/2022 8:00 - 9:00 AM ET . This is being provided for informational purposes only. One Centre Street. Our active ownership approach involves engaging in regular dialogue with portfolio companies to confirm that they are delivering positive long-term investment outcomes for the benefit of our clients. Our Annual Meeting was held on Thursday, April 28, 2022 at 8:30 a.m., New York time, at our offices located at 200 West Street, New York, New York 10282. Engagement and Stewardship Principles. We have previously reported on the R-Factor here and here. Below is a recap of 2022 Annual Meeting voting result information recently filed with the SEC for companies and proposals included within the ProxyMonitor database. For additional details, please see the ISS Proxy Voting Guidelines Updates for 2022 and Glass Lewis 2022 Policy Guidelines. Overview Dimensional seeks to maximize shareholder value subject to the standards of the relevant legal and regulatory regimes, listing requirements, corporate governance and stewardship codes, and any particular investment or . Institutional Shareholder Services Inc. (ISS) and Glass, Lewis & Co. (Glass Lewis) have each issued their respective proxy voting guidelines for 2022, which include a number of noteworthy revisions, summarized below. Large asset managers such as BlackRock and State Street have begun to publish updates to their proxy voting guidelines. (212) 669-3916. State Street Corporation (NYSE: STT), May 18, 2022, . issues including proxy voting worldwide and coordinating regional proxy voting guidelines in accordance with applicable regulations and best practices. State Street Bank and Trust Company, for the purpose of receiving proxy . The 2022 proxy season is shaping up to be an especially active one, with environmental, social, and governance (ESG) matters. . Changes to State Street's Proxy Voting Guidelines. (the "Proxy Voting Guidelines"), and a summary of proxy votes, are available on the OTT website at https://portal.ct.gov/OTT . Throughout this season, you can see how CalPERS votes at specific companies by visiting our Notable Proxy Votes webpage. An analysis of the Big Three's ownership and voting control over Fortune 250 companies reveals that they have the power to determine the outcome of as many as 49.1 percent of environmental proposals, that Vanguard and BlackRock combined (the "Big Two") have sufficient voting control to determine the outcome of up to 35.1 percent of such . 13 January 2022. 2022 Annual Meeting. Regulation. Complexity. Geode Proxy Voting Policies . The Policy addresses a broad range of issues, and provides general voting parameters on proposals that arise most frequently. During the 2022 season, we will continue our efforts and make strides on our priorities. Proxy voting was meant to keep crowds of House members smaller and thereby limit the spread of COVID-19, back in the early days of the pandemic. 3. Geode takes seriously its responsibility to monitor events affecting securities in those client In November 2020, the U.S. Securities and Exchange Commission (SEC) adopted amendments to certain financial disclosure requirements in Regulation S-K, this shift in voting practices is expected to continue into 2022 and should be considered in the context of the related underlying shifts currently underway in corporate america: changes in both "what" companies are supposed to address (that is, the ever-growing array of environmental, social & governance (esg) issues) and "who" (that is, the Proxy Voting Guide . Average support across 171 shareholder-sponsored resolutions averaged 34%, roughly 5 percentage . March 2022 North America (United States & Canada) Proxy Voting and Engagement Guidelines State Street Global Advisors' North America Proxy Voting and Engagement Guidelinesi outline our expectations of companies listed . The following are key considerations for your upcoming annual meeting proxy statement. Proxy Voting Policy. Vanguard 2022 Proxy Voting Policy for U.S. Provide research on targeted domestic companies held in CRPTF's portfolio pertaining to financial performance with corporate governance overlay in preparation for the proxy season. If you are an investor, we invite you to read our . Below is a high-level summary of applicable rule changes, guidance, and disclosure considerations for the 2022 reporting season for public companies. 4/8/2020. State Street: 4 total: 2 total* T. Rowe Price: 5 total: 2 total: . Click Here to Access Our 2022 Annual Shareholders' Meeting Highlights. In addition to board gender diversity, several states have also begun to encourage board diversity beyond gender through legislation. Each investment advisor within the J.P. Morgan Asset Management group 1, (each referred to individually as a "JPMAM Entity" and collectively as "JPMAM"), may be granted by its clients the authority to vote the proxies of the securities held in client portfolios. 2020 Annual Report. 2 For purposes of this proxy voting policy, a "material business relationship" is considered to arise in the event a client has contributed more than 10% of Arrowstreet's annual revenues for the most recent fiscal year or is reasonably expected to contribute this amount for the current fiscal year. Suspect Wasteful Spending? This report compares millions of proxy voting records from January 2015 to June 2020 to commercial relationships, which uncovers the fact that all major fund managers considered BlackRock, State Street, T. Rowe Price, and Vanguard vote with management of their customers at a significantly higher rate . Key Points. Proxy Voting Guidelines. After two years of a temporary provision to allow remote voting in the U.S. House, the top 36 users of the proxy voting system are all Democrats, though Republicans have also taken advantage of it. EMCR. State Street will vote against responsible directors if (i) companies in the S&P 500 and FTSE 100 do not have a person of color on their boards, (ii) companies in the S&P 500 and FTSE 100 do not. 2019 Annual Report. Guidelines for 2022. 1. State Street may vote "against,"or "withhold" votes from, the chair of the nominating/governance committee: Beginning in 2022, for companies in all markets, if there is not at least one female director on the board; and Beginning in 2023, at Russell 3000 companies, if the board does not have at least 30% female directors. The call for enhanced disclosure on board diversity has accelerated in recent months, culminating in Nasdaq's new board diversity rules. As an investment adviser, Geode holds voting authority for securities in many of the client accounts that it manages. Firms aligned closely over the past 18 months to prepare for the launch of Capital Group's initial suite of six ETFs. May 2022. . At the forefront of this wave of support for E&S proposals were the "Big Three" asset managers, BlackRock, Vanguard and State Street. We're built to do the right thing for clients, and our long-term perspective and disciplined approach reflect that commitment. in particular, the Interfaith Center on Corporate Responsibility's 2022 Proxy Resolutions and Voting Guide. This is not intended to represent the proxy voting records for other mandates. 2022 Policy Guidelines United States 8 State Laws on Underrep resented Community Diversity We have included a new section discussing state laws on underrepresented community diversity. Proxy voting guidelines Issues on which the CRPTF will cast proxy votes Any other matters that may be related to proxy voting 2.