AllianzGI vows to vote against European large-caps that fail to link exec pay to ESG KPIs

Publishes analysis of AGM voting in 2021

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AllianzGI's Matt Christensen

AllianzGI's Matt Christensen

Allianz Global Investors (AllianzGI) has pledged to vote against European companies’ pay policies in 2023 if they fail to include ESG KPIs in executive remuneration plans.

The change to its 2022 voting policy comes as the asset manager published its annual analysis of how it voted at AGMs in 2021, covering nearly 110,000 shareholder and management proposals. According to AllianzGI, compensation-related proposals were "the most contentious area globally" last year, with the firm voting against 47% of all compensation-related management proposals during the year, down from 49% in 2020. It reported that abstentions on compensation proposals globally were "broadly unchanged" last year, at 6%. S&P Global: Governments and corporates face increased pressure...

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