Sarasin & Partners alongside Local Authority Pension Fund Forum (LAPFF), CCLA Investment Management and Ethos Foundation, have written to the chairs of 35 FTSE 350 companies to set out our expectations for shareholder votes on climate transition plans ahead of next year’s AGM season.
This is part of our continued efforts to push for greater transparency and accountability given the substantial climate-related financial risks.
Natasha Landell-Mills, Head of Stewardship at Sarasin & Partners LLP, said: "AGMs have always been a key moment for shareholders to hold boards accountable. But they also provide an opportunity for boards to build shareholder backing for important strategic shifts. For high-carbon companies seeking to pivot their strategies towards net zero, shareholder support will be vital. It is for this reason that we encourage boards to put their transition plans to a vote at forthcoming AGMs. Far better to seek shareholder input and thereby shore up investor support for the transition, rather than provoke potentially destabilising dissent by denying shareholders a say."
Read the full press release here.