UK-based asset manager Fidelity International has set out its key voting considerations for Europe’s annual general meeting (AGM) season. They are climate change, tackling deforestation and ensuring fair, transparent remuneration structures. On the latter, a key focus for Fidelity is the alignment between executive pay and the experience of the wider workforce in light of global inflation and a cost-of-living crisis. It said companies may de-prioritise internal pay equity in the face of questions surrounding competitiveness and that Fidelity would support fair and transparent remuneration structures. Fidelity has also said it will vote against director at companies that fail to meet its minimum expectations on climate change governance, policies, and disclosures. This year, Fidelity will also begin to vote against companies in high-risk sectors for deforestation and those that do not meet its minimum standards of deforestation-related practices and disclosure. “As a research-led asset manager, we believe that active ownership is a positive force for driving sustainable business practices,” said Emilie Goodall, Head of Stewardship, Europe at Fidelity International. “Voting is a powerful tool for change and as the AGM season begins in Europe, it is important for us to reiterate our voting intentions on the matters that we think are pivotal to address for the year ahead.”
