NEST Voting Report for the period 01 Jan 2022 to 01 Apr 2022

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Table of Contents

 

Vote summary by region

AGM Class Court EGM GM OGM SGM Total
Africa 2 0 0 0 0 0 0 5
Asia & Oceania : Developed 77 0 0 0 0 0 0 89
Asia & Oceania : Emerging 16 0 0 0 0 0 0 77
Europe : Developed 71 0 0 0 0 0 0 79
Europe : Emerging 4 0 0 0 0 0 0 8
Japan 58 0 0 0 0 0 0 60
Latin America & Caribbean 1 0 0 0 0 0 0 6
North America 40 0 0 0 0 0 0 44
South & Central America 15 0 0 0 0 0 0 25
UK & Ireland 18 0 0 0 0 0 0 29
 

Vote summary by issues: Active Monitoring List

  For Abstain Against Case-by-case Withhold Refer
Audit & Reporting 5 0 3 0 0 0
Other 0 0 0 0 0 0
Board 1 0 0 0 0 0
Capital 0 0 0 0 0 0
Consent Solicitation 0 0 0 0 0 0
Corporate Actions 0 0 0 0 0 0
Political Activity 0 0 0 0 0 0
Shareholder Rights 8 0 0 0 0 0
Remuneration 0 0 0 0 0 0
Charitable Activity 0 0 0 0 0 0
Sustainability 0 0 0 0 0 0
 

Vote summary by issues: Commodities Fund

  For Abstain Against Case-by-case Withhold Refer
Audit & Reporting 21 1 20 0 0 0
Other 0 0 0 0 0 0
Board 192 1 53 0 3 0
Capital 14 0 11 0 0 0
Consent Solicitation 0 0 0 0 0 0
Corporate Actions 4 0 0 0 0 0
Political Activity 0 0 0 0 0 0
Shareholder Rights 38 1 6 0 0 0
Remuneration 14 0 43 0 0 0
Charitable Activity 0 0 0 0 0 0
Sustainability 5 0 1 0 0 0
 

Vote summary by issues: HSBC

  For Abstain Against Case-by-case Withhold Refer
Audit & Reporting 0 0 0 0 0 0
Other 0 0 0 0 0 0
Board 0 0 0 0 0 0
Capital 0 0 0 0 0 0
Consent Solicitation 0 0 0 0 0 0
Corporate Actions 1 0 0 0 0 0
Political Activity 0 0 0 0 0 0
Shareholder Rights 0 0 0 0 0 0
Remuneration 0 0 0 0 0 0
Charitable Activity 0 0 0 0 0 0
Sustainability 0 0 0 0 0 0
 

Vote summary by issues: UBS

  For Abstain Against Case-by-case Withhold Refer
Audit & Reporting 6 0 10 0 0 0
Other 0 0 0 0 0 0
Board 68 0 33 0 3 0
Capital 6 0 3 0 0 0
Consent Solicitation 0 0 0 0 0 0
Corporate Actions 2 0 0 0 0 0
Political Activity 0 0 0 0 0 0
Shareholder Rights 12 0 1 0 0 0
Remuneration 10 0 10 0 0 0
Charitable Activity 0 0 0 0 0 0
Sustainability 5 0 2 0 0 0
 

Votes against management - by region

Region Resolutions
Asia & Oceania : Developed 3
Asia & Oceania : Emerging 23
Europe : Developed 49
Japan 19
Latin America & Caribbean 1
North America 32
South & Central America 16
 

Votes withheld by manager

Company Event Date Res Num SH Res Resolution Active Monitoring List Commodities Fund HSBC UBS
Commercial Metals Co AGM 12-Jan-22 1.03 - To re-elect as a director, Charles Szews Against
Commercial Metals Co AGM 12-Jan-22 2 - To ratify the appointment of Deloitte & Touche LLP as auditors Against
Commercial Metals Co AGM 12-Jan-22 3 - To approve an advisory vote on the remuneration of the Company's named executive officers Against
BRF SA EGM 17-Jan-22 1 - To amend Article 7 of the Articles of Association Against
BRF SA EGM 17-Jan-22 2 - To approve the capital increase through issuance of new shares Against
BRF SA EGM 17-Jan-22 6 - To give the board discretion over certain elements of the share issue and Capital Increase Against
Hormel Foods Corp AGM 25-Jan-22 1.02 - To re-elect as a director, Gary Bhojwani Withhold Withhold
Hormel Foods Corp AGM 25-Jan-22 1.10 - To re-elect as a director, Sally Smith Withhold Withhold
Hormel Foods Corp AGM 25-Jan-22 1.11 - To re-elect as a director, James Snee Withhold Withhold
Hormel Foods Corp AGM 25-Jan-22 2 - To ratify the appointment of Ernst & Young LLP as auditors Against Against
Hormel Foods Corp AGM 25-Jan-22 3 - To approve an advisory vote on the remuneration of the Company's named executive officers Against Against
Hormel Foods Corp AGM 25-Jan-22 4 Y To request that the Board commission a study on the external environmental and public health costs created by the use of antibiotics in the company’s supply chain For For
ICL Group Ltd EGM 27-Jan-22 1 - To elect as a statutory external director, Dafna Gruber Against
VERBIO Vereinigte BioEnergie AG AGM 04-Feb-22 6 - To approve the creation of a new Authorised Capital with the dis-application of pre-emption rights and the correspondent amendment to the Articles of Association Against
VERBIO Vereinigte BioEnergie AG AGM 04-Feb-22 7 - To approve the remuneration system for the members of the Management Board Against
Tyson Foods Inc AGM 10-Feb-22 1a - To re-elect as a director, John Tyson Against Against
Tyson Foods Inc AGM 10-Feb-22 1i - To re-elect as a director, Kevin McNamara Against Against
Tyson Foods Inc AGM 10-Feb-22 1j - To re-elect as a director, Cheryl Miller Against Against
Tyson Foods Inc AGM 10-Feb-22 3 Y To request that the company issue a report regarding the sustainable packaging efforts by reducing its absolute plastic packaging use For For
Evoqua Water Technologies Corp AGM 16-Feb-22 2 - To approve an advisory vote on the remuneration of the Company's named executive officers Against
Aurubis AG AGM 17-Feb-22 5 - To appoint the auditors Against
Aurubis AG AGM 17-Feb-22 6 - To authorise the directors to issue shares Against
Aurubis AG AGM 17-Feb-22 7 - To authorise the creation of a new Authorised Capital with the dis-application of pre-emption rights and the correspondent amendment to the Articles of Association Against
Aurubis AG AGM 17-Feb-22 8 - To elect as a member of the Supervisory Board, Gunnar Groebler Against
Graincorp Ltd AGM 17-Feb-22 2 - To adopt the remuneration report for the year ended 30 September 2021 Against
Graincorp Ltd AGM 17-Feb-22 3a - To re-elect as a director, Peter Richards Against
Graincorp Ltd AGM 17-Feb-22 4 - To approve a grant of Performance Rights to Robert Spurway Against
Deere & Co Inc AGM 23-Feb-22 1c - To re-elect as a director, Alan Heuberger Against Against
Deere & Co Inc AGM 23-Feb-22 1f - To re-elect as a director, Clayton Jones Against Against
Deere & Co Inc AGM 23-Feb-22 1g - To re-elect as a director, John May Against Against
Deere & Co Inc AGM 23-Feb-22 1h - To re-elect as a director, Gregory Page Against Against
Deere & Co Inc AGM 23-Feb-22 1i - To re-elect as a director, Sherry Smith Against Against
Deere & Co Inc AGM 23-Feb-22 2 - To approve an advisory vote on the remuneration of the Company's named executive officers Against Against
Deere & Co Inc AGM 23-Feb-22 3 - To ratify the appointment of Deloitte & Touche LLP as auditors Against Against
Deere & Co Inc AGM 23-Feb-22 5 Y To request the Board to take the steps necessary to amend the Bylaws so that a lower threshold is required for shareholders to call a special shareholder meeting For For
Compass Minerals International Inc AGM 24-Feb-22 2 - To approve an advisory vote on the remuneration of the Company's named executive officers Against
Compass Minerals International Inc AGM 24-Feb-22 3 - To approve an amendment to the 2020 Incentive Award Plan Against
Zhaojin Mining Industry Company Ltd EGM 26-Feb-22 1a - To re-elect as a director, Zhanbin Weng Against
Zhaojin Mining Industry Company Ltd EGM 26-Feb-22 1c - To re-elect as a director, Ligang Wang Against
Zhaojin Mining Industry Company Ltd EGM 26-Feb-22 1d - To re-elect as a director, Jun Ding Against
Zhaojin Mining Industry Company Ltd EGM 26-Feb-22 1e - To re-elect as a director, Guanghui Li Against
Zhaojin Mining Industry Company Ltd EGM 26-Feb-22 1f - To re-elect as a director, Min Gao Against
Zhaojin Mining Industry Company Ltd EGM 26-Feb-22 1g - To re-elect as a director, Zhen Huang Against
Zhaojin Mining Industry Company Ltd EGM 26-Feb-22 1h - To re-elect as a director, Jinrong Chen Against
Zhaojin Mining Industry Company Ltd EGM 26-Feb-22 1i - To re-elect as a director, Sze Chung Jojo Choy Against
Helmerich & Payne Inc AGM 01-Mar-22 1d - To re-elect as a director, Randy Foutch Against
Helmerich & Payne Inc AGM 01-Mar-22 1e - To re-elect as a director, Hans Helmerich Against
Helmerich & Payne Inc AGM 01-Mar-22 1i - To re-elect as a director, Donald Robillard Against
Helmerich & Payne Inc AGM 01-Mar-22 1j - To re-elect as a director, Edward Rust Against
Helmerich & Payne Inc AGM 01-Mar-22 1l - To re-elect as a director, John Zeglis Against
Helmerich & Payne Inc AGM 01-Mar-22 2 - To ratify the appointment of Ernst & Young LLP as auditors Against
Helmerich & Payne Inc AGM 01-Mar-22 3 - To approve an advisory vote on the remuneration of the Company's named executive officers Against
Helmerich & Payne Inc AGM 01-Mar-22 4 - To approve the amended and restated 2020 Omnibus Incentive Plan Against
SalMar ASA EGM 14-Mar-22 3 - To approve the increase in share capital Against
Kubota Corp AGM 18-Mar-22 1 - To amend the Articles of Association Against
Kubota Corp AGM 18-Mar-22 2.01 - To re-elect as a director, Masatoshi Kimata Against
Kubota Corp AGM 18-Mar-22 2.03 - To re-elect as a director, Masato Yoshikawa Against
Kubota Corp AGM 18-Mar-22 5 - To approve the bonus payments for 5 directors Against
Kubota Corp AGM 18-Mar-22 6 - To approve the revision of remuneration for directors Against
Kubota Corp AGM 18-Mar-22 7 - To approve the revision of remuneration for audit and supervisory board members Against
Kubota Corp AGM 18-Mar-22 8 - To approve the amount and details of stock compensation for directors Against
Aluminum Corporation of China Ltd EGM 22-Mar-22 1 - To approve the adoption of the 2021 Restricted Share Incentive Scheme Against
Aluminum Corporation of China Ltd EGM 22-Mar-22 2 - To approve the amendments to the Appraisal Management Measures for the Implementation of the 2021 Restricted Share Incentive Scheme Against
Aluminum Corporation of China Ltd EGM 22-Mar-22 3 - To delegate powers to the Board to effect the resolutions relating to the 2021 Restricted Share Incentive Scheme Against
Aluminum Corporation of China Ltd EGM 22-Mar-22 4 - To approve the grant of Restricted Shares to the connected persons of the company under the 2021 Restricted Share Incentive Scheme Against
Aluminum Corporation of China Ltd Class 22-Mar-22 1 - To approve the amendments to the 2021 Restricted Share Incentive Scheme Against
Aluminum Corporation of China Ltd Class 22-Mar-22 2 - To approve the amendments to the Appraisal Management Measures for the Implementation of the 2021 Restricted Share Incentive Scheme Against
Aluminum Corporation of China Ltd Class 22-Mar-22 3 - To delegate powers to the Board to effect the resolutions relating to the 2021 Restricted Share Incentive Scheme Against
Siemens Gamesa Renewable Energy SA AGM 24-Mar-22 5 - To appropriate the profit and to approve the dividend for the year ended 30 September 2021 Against Against
Siemens Gamesa Renewable Energy SA AGM 24-Mar-22 8 - To re-elect as a director, Andre Clark Against Against
Siemens Gamesa Renewable Energy SA AGM 24-Mar-22 9 - To re-appoint as auditors, Ernst & Young Against Against
Siemens Gamesa Renewable Energy SA AGM 24-Mar-22 10.01 - To amend Article 15, 17, 19, 20, 21 and 24 of the Articles of Association Against Against
Siemens Gamesa Renewable Energy SA AGM 24-Mar-22 13 - To adopt the remuneration report for the year ended 30 September 2021 Against Against
Inpex Corp AGM 25-Mar-22 3.01 - To re-elect as a director, Toshiaki Kitamura Against Against
BRF SA AGM 28-Mar-22 1 - To adopt the report & accounts for the year ended 31 December 2021 Against
BRF SA AGM 28-Mar-22 6.01.01 - In the event that cumulative voting is used for this election, to elect Marcos dos Santos Against
BRF SA AGM 28-Mar-22 6.01.05 - In the event that cumulative voting is used for this election, to elect Oscar de Paula Bernardes Neto Against
BRF SA AGM 28-Mar-22 8 - To set the level of directors' fees for the year Against
BRF SA AGM 28-Mar-22 10 - To set the remuneration of the Fiscal Council Against
Sumitomo Forestry Co Ltd AGM 29-Mar-22 3.01 - To re-elect as a director, Akira Ichikawa Against Against
Sumitomo Forestry Co Ltd AGM 29-Mar-22 3.02 - To re-elect as a director, Toshiro Mitsuyoshi Against Against
Sumitomo Forestry Co Ltd AGM 29-Mar-22 5 - To approve the payment of directors' bonuses Against Against
Sumitomo Forestry Co Ltd AGM 29-Mar-22 6 - To amend the remuneration received by members of the Board of Directors and Audit & Supervisory Board Against Against
Sumitomo Forestry Co Ltd AGM 29-Mar-22 7 - To amend the remuneration received by members of the Board of Directors under the performance-based restricted stock remuneration plan for directors Against Against
EcoPetrol SA AGM 30-Mar-22 9 - To approve the presentation and consideration of the report & accounts for the year ended 31 December 2021 Against
EcoPetrol SA AGM 30-Mar-22 10 - To adopt the audited individual and consolidated financial statements for the year ended 31 December 2021 Against
EcoPetrol SA AGM 30-Mar-22 14 - To adopt the audited individual and consolidated financial statements for the year ended 31 December 2021 Against
ICL Group Ltd AGM 30-Mar-22 1.01 - To elect as a director, Yoav Doppelt Against
ICL Group Ltd AGM 30-Mar-22 1.02 - To elect as a director, Aviad Kaufman Against
ICL Group Ltd AGM 30-Mar-22 2 - To re-appoint Somekh Chaikin, a member Firm of KPMG International as auditors Against
ICL Group Ltd AGM 30-Mar-22 3 - To approve the remuneration policy Against
ICL Group Ltd AGM 30-Mar-22 4 - To approve the amended compensation terms of Yoav Doppelt Against
ICL Group Ltd AGM 30-Mar-22 5 - To approve an equity-based award to Yoav Doppelt Against
ICL Group Ltd AGM 30-Mar-22 6 - To approve an equity-based award to Raviv Zoller Against
AGC Inc AGM 30-Mar-22 2 - To amend the Articles of Incorporation Abstain
AGC Inc AGM 30-Mar-22 3.01 - To re-elect as a director, Takuya Shimamura Against
AGC Inc AGM 30-Mar-22 3.02 - To re-elect as a director, Yoshinori Hirai Against
AGC Inc AGM 30-Mar-22 3.07 - To elect as a director, Isao Teshirogi Against
AGC Inc AGM 30-Mar-22 5 - To set the level of directors' fees for the year Against
AGC Inc AGM 30-Mar-22 6 - To approve the issue of restricted stock grants to specified directors Against
Holmen AB AGM 30-Mar-22 10 - To set the Board size at nine Against Against
Holmen AB AGM 30-Mar-22 11 - To set the level of directors' fees for the year Against Against
Holmen AB AGM 30-Mar-22 12.01 - To re-elect as a director, Fredrik Lundberg Against Against
Holmen AB AGM 30-Mar-22 12.02 - To re-elect as a director, Carl Bennet Against Against
Holmen AB AGM 30-Mar-22 12.04 - To re-elect as a director, Alice Kempe Against Against
Holmen AB AGM 30-Mar-22 12.09 - To elect as a director, Fredrik Persson Against Against
Holmen AB AGM 30-Mar-22 13 - To re-appoint as auditors, PricewaterhouseCoopers AB Against Against
Holmen AB AGM 30-Mar-22 14 - To approve the guidelines for the determination of remuneration of senior executives Against Against
FLSmidth & Co AS AGM 30-Mar-22 5 - To approve the Remuneration Report for the year ended 31 December 2021 Against
FLSmidth & Co AS AGM 30-Mar-22 6a - To re-elect as a director, Tom Knutzen Abstain
FLSmidth & Co AS AGM 30-Mar-22 7 - To re-appoint EY Godkendt Revisionspartnerselskab as auditors Abstain
FLSmidth & Co AS AGM 30-Mar-22 8.01 - To approve the amendment to the remuneration policy Against
FLSmidth & Co AS AGM 30-Mar-22 8.02 - To amend the Articles of Association Against
Buenaventura Mining Co Inc AGM 31-Mar-22 1 - To approve the annual report for the year ended 31 December 2021 Against
Buenaventura Mining Co Inc AGM 31-Mar-22 2 - To approve the financial statements for the year ended 31 December 2021 Against
Buenaventura Mining Co Inc AGM 31-Mar-22 3 - To approve the remuneration for the directors for the year ended 31 December 2021 Against
Buenaventura Mining Co Inc AGM 31-Mar-22 4 - To appoint the auditors Against
Buenaventura Mining Co Inc AGM 31-Mar-22 5 - To declare a dividend Against
Svenska Cellulosa AB SCA AGM 31-Mar-22 11.01 - To re-elect as a director, Pär Boman Against
Svenska Cellulosa AB SCA AGM 31-Mar-22 14 - To approve the guidelines for the determination of remuneration of senior executives Against
Svenska Cellulosa AB SCA AGM 31-Mar-22 15 - To approve the guidelines for the determination of remuneration of senior executives Against
Svenska Cellulosa AB SCA AGM 31-Mar-22 16 - To adopt the long-term cash-based incentive program Against
Svenska Cellulosa AB SCA AGM 31-Mar-22 11.08 - To re-elect as a director, Barbara Thoralfsson Against
Lundin Energy AB AGM 31-Mar-22 9 - To adopt the report & accounts for the year ended 31 December 2021 Against Against
Lundin Energy AB AGM 31-Mar-22 10 - To appropriate the profit and to approve the dividend for the year ended 31 December 2021 Against Against
Lundin Energy AB AGM 31-Mar-22 12 - To approve the guidelines for the determination of remuneration of senior executives Against Against
Lundin Energy AB AGM 31-Mar-22 16 - To elect the Board of Directors Against Against
Lundin Energy AB AGM 31-Mar-22 16a - To re-elect as a director, Peggy Bruzelius Against Against
Lundin Energy AB AGM 31-Mar-22 16b - To re-elect as a director, Ashley Heppenstall Against Against
Lundin Energy AB AGM 31-Mar-22 16c - To re-elect as a director, Ian Lundin Against Against
Lundin Energy AB AGM 31-Mar-22 16d - To re-elect as a director, Lukas Lundin Against Against
Lundin Energy AB AGM 31-Mar-22 16f - To re-elect as a director, Torstein Sanness Against Against
Lundin Energy AB AGM 31-Mar-22 16g - To re-elect as a director, Alex Schneiter Against Against
Lundin Energy AB AGM 31-Mar-22 16k - To re-elect as Chairman, Ian Lundin Against Against
Lundin Energy AB AGM 31-Mar-22 17 - To approve that the auditors fee be paid as per invoice Against Against
Lundin Energy AB AGM 31-Mar-22 18 - To re-appoint as auditors, Ernst & Young AB Against Against
Lundin Energy AB AGM 31-Mar-22 21a Y To request the Company brings the combination proposal between Aker BP and the Company in line with both customary law and the Lundin Energy’s human rights obligation For For
Outokumpu Oyj AGM 31-Mar-22 8 - To appropriate the profit and to approve the dividend for the year ended 31 December 2021 Against
Outokumpu Oyj AGM 31-Mar-22 10 - To adopt the remuneration report for the year ended 31 December 2021 Against
Outokumpu Oyj AGM 31-Mar-22 14 - To approve the proposal of the Audit Committee that the audit fee be paid according to the auditor's invoice Against
Outokumpu Oyj AGM 31-Mar-22 15 - To appoint as auditors, PricewaterhouseCoopers Oy Against
 

Glossary

Definitions for all tables

Fund Names
BMO BMO Responsible Global Equity Fund.
HSBC HSBC Economic Scale Index Emerging Markets Equity Fund and HSBC Amanah Global Equity Index Fund.
LGIM FTSE LGIM FTSE EPRA/NAREIT Global Developed Index Fund
LGIM Global LGIM Global Real Estate Equity Index Fund.
NTIF Northern Trust Emerging Markets ESG Equity Index Fund.
UBS UBS Life World Equity Tracker Fund and UBS Life Climate Aware World Equity Fund.
Meeting Types
AGM Annual General Meeting: meeting normally required by law taking place on an annual basis.
Class Class Meeting: shareholders holding a class of share are required to make a decision binding on the company.
Court Court meeting: shareholders can either order an annual meeting or a special meeting.
EGM Extraordinary General Meeting: meeting is required to conduct business of an urgent or extra-ordinary nature. Such business may require a special quorum or approval level.
GM General Meeting: term often used interchangeably with the term EGM,OGM, SGM, depending on the term used by the company in question.
OGM Ordinary General Meeting: term often used interchangeably with the term EGM,GM, SGM, depending on the term used by the company in question.
SGM Special General Meeting: term often used interchangeably with the term EGM,GM, OGM, depending on the term used.
Other Items
SH Shareholder resolution, resolution proposed by shareholders for ratifying or requesting a specified action by a corporate board
Vote withheld Shareholder votes not supporting management recommendations.
Vote Types
Abstain Shareholder's vote not in favour or against the proposed resolution, but shareholder demonstrates lack of confidence towards the rationale behind the resolution.
Against Shareholder's vote against the resolution proposed.
For Shareholder's vote in favour of the resolution proposed.
Withhold For US- board resolutions, shareholder vote not in favour the board election.