TIAA-CREF, the US institutional investing giant with $453bn in assets under management, has updated its corporate governance policy to facilitate “a more robust” dialogue between companies and shareholders. The 37-page statement addresses executive pay, board elections, political contributions, and labour and human rights.
The revision is intended to inform people about the corporate governance and social responsibility practices it expects of companies in its portfolio. It also discloses how TIAA-CREF would vote on proxy resolutions at the more than 8,000 companies it invests in around the world.
“We’ve updated our guidelines to facilitate a more robust dialog between companies and their shareholders and to encourage more sustainable value creation,” said TIAA-CREF’s chief executive Roger Ferguson. Read more here
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