Global investment firm AllianzGI has strengthened its rules for voting based on executive pay, climate goals and gender diversity. AllianzGI said that it will increasingly hold directors accountable if a company lacks a credible net zero strategy. It has also implemented a new rule requiring small-and-medium sized enterprises (SMEs) to consider ESG metrics when considering remuneration for executives. AllianzGI says that it will extend diversity rules to SME companies in developed markets (ex-Asia), too. “AllianzGI is committed to driving positive change through proxy voting and responsible investment practices,” said Matt Christensen, Global Head of Sustainable and Impact Investment. “Our dedication to stewardship and forward-looking approach will ensure that we remain at the forefront of advocating for high governance standards and the protection of minority shareholder rights.” Last year, AllianzGI voted against, withheld, or abstained from at least one agenda item at 72% of all AGMs globally. The firm opposed 19% of capital-related proposals, 22% of director elections, and 41% of remuneration-related proposals.
