NILGOSC is committed to responsible investment, and continues to undertake a range of activities to promote positive environmental, social and governance (ESG) practices. NILGOSC believes that, as a responsible investor, it has a legitimate interest in the management and corporate governance of its investee companies and supports the use of voting as a pivotal tool by which shareholders can act as good stewards. By doing so, NILGOSC seeks to improve corporate behaviour and help maintain effective shareholder oversight.
The most recent peak voting period finished at the end of June 2022, and during the 12 months to 30 June 2022 NILGOSC cast 2,310 votes at a total of 202 meetings, held by 156 globally listed companies. Of the 20 countries in which the investee companies were located, most resolutions were filed in North America (1,125 resolutions over 85 meetings).
In total, 42.9% of all votes cast were made against management recommendations, which demonstrates that NILGOSC is more active in expressing concerns through voting than the average shareholder (who demonstrates an average dissent level of 6.1%). Although only 7.2% of resolutions were proposed by shareholders, that’s more than double the previous year (3.1%), demonstrating increasing use of this important tool for shareholders wishing to exact change and voice their opinion. NILGOSC believes that all resolutions, particularly those proposed by shareholders, should be reviewed on a case-by-case basis, and NILGOSC supports proposals that are compatible with it’s policies, follow good market practice and are in the best interests of shareholders.
NILGOSC also has a bespoke Proxy Voting Policy which sets out its expectations for good corporate governance, including how companies manage their impact on society and the environment. More information about NILGOSC’s Voting Policy, which is updated annually, can be found on Voting Policy 2022 (nilgosc.org.uk).
A report with full details of NILGOSC’s voting activities up to 30 June 2022, as well as full disclosure of how NILGOSC voted on Shareholder resolutions over the period is available on our Annual voting review page.
