How our actions as a shareholder ensured a multi-national chemicals company committed to net zero by 2050.
Shareholders including Coutts have prompted a global chemicals company to set clear targets and take tough action to tackle climate change.
The action they're taking following concerns raised by shareholders includes launching a global renewable energy strategy, using lower-emitting fuels and phasing out coal.
'With
Ambitious goals were needed
Coutts was part of a group of investors that put climate change squarely on the agenda of
The group raised concerns about the company's existing strategy and performance in managing climate-related risks and opportunities. They also highlighted the importance of setting ambitious targets consistent with the
These efforts prompted
'As a responsible investor and
This shareholder action was driven as part of Climate Action 100+, an investor-led initiative to ensure the world's largest corporate greenhouse gas emitters take necessary action.
'We are confident in our approach and committed to doing our part.'
Our latest responsible voting and engagement activity
Through our partnership with EOS, Coutts works to ensure the companies we hold in our client portfolios and funds meet our high standards on sustainability. Full details of our voting and engagement activity for the third quarter of 2021, broken down by topic, are in the charts below.
Highlights include:
over the last quarter we engaged with 115 companies held in the Coutts portfolios on a range of 377 environmental, social and governance issues and objectives - including climate change, executive pay and board diversity
we made voting recommendations at 103 meetings (1,342 resolutions)
at 49 meetings we recommended opposing one or more resolutions
OUR VOTING AND ENGAGEMENT IN NUMBERS, Q3 2021
voting
Over the last quarter, EOS made voting recommendations at 103 meetings (1,342 resolutions). At 49 meetings they recommended opposing one or more resolutions. They recommended voting with management by exception at 7 meetings and supported management on all resolutions at the remaining 47 meetings. May not equal 100% due to rounding.
Source: EOS at
engagement
Over the last quarter EOS engaged with 115 companies held in the
Source: EOS at
engagement - environmental
Environmental topics featured in 31.0% of our engagements over the last quarter. May not equal 100% due to rounding.
Source: EOS at
engagement - social and ethical
Social and ethical topics featured in 26.3% of our engagements over the last quarter. May not equal 100% due to rounding.
Source: EOS at
engagement - governance
Governance topics featured in 26.0% of our engagements over the last quarter. May not equal 100% due to rounding.
Source: EOS at
engagement - strategy, risk and communication
Strategy, risk and communications topics featured in 16.7% of our engagements over the last quarter. May not equal 100% due to rounding.
Source: EOS at
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