| Report in respect of 2008 |
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Execution of Corporate Governance policy - 1st quarter |
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The Pension Fund did not cast any votes during the first quarter of 2008. Pursuant to the Corporate Governance policy |
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no such General Shareholders’ Meetings were
held.
5th May 2008 |
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Execution of the Policy for Responsible Investing - 2nd quarter |
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In the second quarter of 2008 SSPF voted by proxy at the shareholder meetings of 1,358 companies (14,647 resolutions). At 727 of those meetings SSPF opposed one or more resolutions. The voting took place at companies worldwide (Europe – 393, North America – 197, South America – 9, Australia/New Zealand – 14, Asia (excl. Japan) – 242, Japan – 430, Middle East/Africa – 73). |
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Hermes EOS engaged on behalf of i.a. SSPF with a large number of companies on corporate governance and responsible investment issues, including the production of forbidden weapons. This led to the exclusion of several companies, active in the production of anti-personnel landmines. The engagement with a number of companies, including producers of cluster munitions, has not yet been completed. 12th September 2008 |
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Execution of the Policy for Responsible Investing - 3rd quarter |
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In the third quarter of 2008 SSPF voted by proxy at the shareholder meetings of 388 companies (3,431 resolutions). At 136 of those meetings SSPF opposed one or more resolutions, mainly on corporate governance issues such as amongst others board structure, executive remuneration and capital structure/potential dilution. The voting took place at companies worldwide (Europe – 184, North America – 71, South America – 5, Australia/New Zealand – 9, Asia (excl. Japan) – 64, Japan – 6, |
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Middle East/Africa – 49). Hermes EOS engaged on behalf of i.a. SSPF with 93 companies on corporate governance and responsible investment issues, including the production of banned weapons with 11 companies. This also took place at companies worldwide (Europe – 65, North and South America – 9, Asia (excl. Japan) – 16, Middle East/Africa – 3). 3rd November 2008 |
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Execution of the Policy for Responsible Investing - 4th quarter |
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In the fourth quarter of 2008 SSPF voted by proxy worldwide at the shareholder meetings of 424 companies (in aggregate 2,544 resolutions). At 113 of those meetings SSPF opposed one or more resolutions, mainly on corporate governance issues. The geographical spread of this voting was: Europe – 128, North America – 61, South America – 17, Australia/New Zealand – 68, Asia (excl. Japan) – 88, Japan – 15, Middle East/Africa – 47. Hermes EOS engaged on behalf of i.a. SSPF with 120 companies on corporate governance and responsible investment issues, including corporate strategy, remuneration, |
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risk management, controversial weapons and child labour. This also took place at companies worldwide (Europe – 84, North and South America – 12, Asia Pacific (excl. Japan) – 21, Middle East/Africa – 3). On 30 October 2008 SSPF has signed the Principles for Responsible Investments of the United Nations (UN PRI). These principles constitute a framework for institutional investors i.a. to integrate non-financial factors like corporate governance and environmental and social aspects in their investment policy and to fulfil their role as shareholders in a responsible manner. 9th February 2009 |
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