Category: CA100+
RI takes a look at one of the biggest new voting trends this AGM season RI takes a look at one of the biggest new voting trends this AGM season RI takes a look at one of the biggest new voting trends this AGM season
There can be little doubt that the ‘Say on Climate’ campaign has momentum. In less than six months, since its launch by UK hedge fund manager Sir Chris Hohn and his firm The Children’s Investment Fund (TCI), at least 15 companies – including FTSE 100 giants Rio Tinto, Glencore and Unilever – have voluntarily adopted some form of shareholder vote on their climate plans.
Before the campaign was launched in earnest, Hohn tested the concept by filing what would be the first Say on Climate proposal, at Spanish airport operator Aena - on whose board he sits and with whom he had been engaging with for a number of years on climate.
That call for an annual vote on the state-owned firm’s transition plans was a huge success, receiving near unanimous support, including, crucially, from investment behemoths Blackrock and Vanguard, and the world’s largest proxy advisors ISS and Glass Lewis. Just days after the vote at the annual meeting in October, Aen…