latamen
Pioneering climate engagement leads Q2 Active Ownership report

Pioneering climate engagement leads Q2 Active Ownership report

31-07-2020 | Active Ownership Report
It was full steam ahead for Robeco’s Active Ownership team in the second quarter, despite the restrictions brought by Covid-19.
  • Carola van Lamoen
    Carola
    van Lamoen
    Head SI Center of Expertise

Speed read

  • Proxy system braves virtual voting season during the pandemic
  • Unique success in engagement to appoint board member at Enel
  • The complexities of mining are addressed in new engagement theme

The second quarter saw a pioneering investor engagement success on climate change, the launch of a new engagement theme on mining, and more shareholder meetings than ever before. Most company AGMs take place in the April to June period, though many were held online.

“Although the Covid-19 pandemic caused some meetings to be postponed, the overall proxy voting system proved to be sufficiently resilient,” says Carola van Lamoen, Head of Robeco’s SI Center of Expertise.

“Given the challenging circumstances around the world, it was especially important that we made our shareholder voices heard, and encouraged companies to take action on material ESG issues.”

“Climate change was once again a central theme throughout the voting season, and we played an active role in bringing this issue front and center.”

Stay informed on our latest insights with monthly mail updates
Stay informed on our latest insights with monthly mail updates
Subscribe

Significant engagement success

A significant success during the period was the appointment of a board member at Enel to assist the Italian utility in its move to a lower-carbon business model.

“We led the way in successfully nominating a sustainability expert to Enel’s board of directors to enhance the climate expertise of the board,” says Van Lamoen. “This innovative engagement approach will strengthen the company’s transition plans.”

At the AGM of Alphabet, Robeco co-filed a resolution requesting the board to establish a Human Rights Oversight Committee.

New engagement theme for mining

The quarter also saw the launch of a new engagement theme on the lifecycle management of mining. “The aim of this engagement theme ranges from improving disclosure of tailing dam risks to encouraging best practices for water management,” Van Lamoen says.

In the Q2 report, engagement specialists Cristina Cedillo and Sylvia van Waveren explain that the mining sector is vital for economic growth, but they draw attention to numerous ESG risks over the lifecycle of mining operations.

Recent developments in the corporate governance space are also covered, as well as Robeco’s engagements on the social risks of sugar, the importance of paying a living wage, and the ‘tsunami of waste’ that single-use plastic is causing.

Our engagement specialists show how the UN’s Sustainable Development Goals are influencing our engagement in these areas, and how companies are approaching the goals.

Logo

Important information

The Robeco Capital Growth Funds have not been registered under the United States Investment Company Act of 1940, as amended, nor or the United States Securities Act of 1933, as amended. None of the shares may be offered or sold, directly or indirectly in the United States or to any U.S. Person (within the meaning of Regulation S promulgated under the Securities Act of 1933, as amended (the “Securities Act”)). Furthermore, Robeco Institutional Asset Management B.V. (Robeco) does not provide investment advisory services, or hold itself out as providing investment advisory services, in the United States or to any U.S. Person (within the meaning of Regulation S promulgated under the Securities Act).

This website is intended for use only by non-U.S. Persons outside of the United States (within the meaning of Regulation S promulgated under the Securities Act who are professional investors, or professional fiduciaries representing such non-U.S. Person investors. By clicking “I Agree” on our website disclaimer and accessing the information on this website, including any subdomain thereof, you are certifying and agreeing to the following: (i) you have read, understood and agree to this disclaimer, (ii) you have informed yourself of any applicable legal restrictions and represent that by accessing the information contained on this website, you are not in violation of, and will not be causing Robeco or any of its affiliated entities or issuers to violate, any applicable laws and, as a result, you are legally authorized to access such information on behalf of yourself and any underlying investment advisory client, (iii) you understand and acknowledge that certain information presented herein relates to securities that have not been registered under the Securities Act, and may be offered or sold only outside the United States and only to, or for the account or benefit of, non-U.S. Persons (within the meaning of Regulation S under the Securities Act), (iv) you are, or are a discretionary investment adviser representing, a non-U.S. Person (within the meaning of Regulation S under the Securities Act) located outside of the United States and (v) you are, or are a discretionary investment adviser representing, a professional non-retail investor. Access to this website has been limited so that it shall not constitute directed selling efforts (as defined in Regulation S under the Securities Act) in the United States and so that it shall not be deemed to constitute Robeco holding itself out generally to the public in the U.S. as an investment adviser. Nothing contained herein constitutes an offer to sell securities or solicitation of an offer to purchase any securities in any jurisdiction. We reserve the right to deny access to any visitor, including, but not limited to, those visitors with IP addresses residing in the United States.

This website has been carefully prepared by Robeco. The information contained in this publication is based upon sources of information believed to be reliable. Robeco is not answerable for the accuracy or completeness of the facts, opinions, expectations and results referred to therein. Whilst every care has been taken in the preparation of this website, we do not accept any responsibility for damage of any kind resulting from incorrect or incomplete information. This website is subject to change without notice. The value of the investments may fluctuate. Past performance is no guarantee of future results. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency. For investment professional use only. Not for use by the general public.

I Disagree