Investment manager Allianz Global Investors (AllianzGI) has confirmed it will bolster its voting policies around pay, gender diversity and climate for the 2024 AGM season. On pay, AllianzGI currently votes against European large-cap companies that do not include ESG key performance indicators into their remuneration policies. For this year, this requirement has been expanded beyond Europe, and as of 2025, it will also apply to smaller companies. AllianzGI plans to set stricter board gender diversity targets for certain countries, raising the threshold to 40% for large UK, Italian and French companies, and will expect at least one female board member for all Asian-listed companies. AllianzGI previously co-founded the 30% Club Investor Group Germany 2023, and co-chairs the initiative in France and Germany. Despite a decreasing number of ‘say-on-climate’ resolutions, AllianzGI stressed that it places high importance on companies’ climate transition strategies. As such, its voting policy has been updated to hold directors increasingly accountable if a company does not have a credible net-zero strategy in place. In future, AllianzGI will base its decisions on its proprietary Net-Zero Alignment Share Methodology, which provides a concrete method to compare companies’ progress across sectors and markets. The firm will pre-announce selected votes during the 2024 AGM season for the second consecutive year.
