ICGN Proxy Season Review 2022; Annual Evaluation and Future Trends

Speakers

Agenda

• 16 November 2022 - ICGN Proxy Season Review 2022

  09:15 – 10:00

  Registration

  10:00 – 10:05

  Welcome from ICGN

  Kerrie Waring, CEO, ICGN

  10:05 – 10:15

  Opening Remarks

  Sharing regulatory developments and updates in preparation for the upcoming reporting and proxy season.

  • Claudia Chapman, Head of Stewardship, Financial Reporting Council

  10:15 – 11:05

  Plenary 1: Considering 2022 trends and anticipating 2023 lightning rod issues

  The 2022 proxy season has been the busiest ever, with shareholders voting on a bout of new environmental and social proposals. It is also a turning point for shareholders hoping to push companies on ESG, as more ambitious shareholder proposals meet concerns about the global economy. Faced with a bear stock market, inflationary pressures and recession warnings, institutional investors have been under more pressure from their clients to show how they engage with companies on ESG. This session will discuss trend highlights and share speaker’s views on the potential hot issues of next year’s proxy season.

  • Bram Houtenbos, Governance Policy & Proxy Voting Manager,  Wellington Asset Management, UK
  • Cassandra Traeger, Vice President, Governance Lead EMEA, Responsible Investment, Columbia Threadneedle Investments , UK
  • Anne-Marie Jourdan, Chargée de mission Direction Juridique Groupe, Caisse des Depots, France
  • Chaired by: Andy Griffiths, Executive Director, Investor Forum, UK

  11:05 – 11:35

  Networking and refreshments

  11:35 – 12:25

  Plenary 2: ESG oversight and assessing ESG disclosure in proxy statements, hosted by Morrow Sodali

  ESG has moved from the margin to the mainstream, and companies must align reporting and disclosures with industry-leading frameworks to address all stakeholders effectively and to set out ESG strategies against long-term goals. With growing markets and investors’ expectations for companies to consider all stakeholders in their strategic decision-making, the need for a robust corporate governance framework that effectively considers environmental and social issues is key to long-term value creation. This session will discuss growing investor interest in how companies are responding to ESG topics such as climate-related risks, management of human capital, or gender diversity, whilst at the same time increasing their scrutiny of traditional governance issues such as board effectiveness and pay. 

  • Lindsey Stewart, CFA, Director of Investment Stewardship Research, Morningstar, UK 
  • Ben Mathews, Group Company Secretary, BP, UK
  • Andrew Gebelin, Investment Stewardship Director – EMEA/APAC, Vanguard Asset Management, UK
  • Chaired by: Jana Jevcakova, Managing Director, Head of ESG International, Morrow Sodali, Australia

  12:25 – 13:15

  Plenary 3: Pass Through Voting Trends and Solutions, hosted by Broadridge

  Pass-through voting initiatives continue to gain momentum. Technology has enabled innovation in the proxy voting ecosystem and investors, asset managers and industry advocates are finding common ground on the subject. Proposed regulations and ideas across the globe appear to promote some form of pass-through voting. The term refers to the practice of giving investors more of a voice in how asset managers vote the proxies of the underlying equities that make up a given fund and the solution to accomplish this varies greatly. This panel covers the industry drive to provide choice in proxy voting, as well as the solutions and progress made by some firms in accomplishing pass-through voting.

  • Kirsty King,  Director, Global Communications lead on Stewardship, BlackRock, UK
  • Danielle Gurrieri, Head of product management, responsible for the Proxy voting applications and proxy data at Broadridge ,USA
  • Carol Nolan Drake, Governance & Stewardship Policy Manager, ICGN, USA
  • Chaired by: Virginie O’Shea, CEO and Founder of Firebrand Research, UK

  13:15 – 14:15

  Networking Lunch

  14:15 – 15:05

  Plenary 4: Dual-class share ownership structures, hosted by Bloomberg

  The recent IPO of Porsche was another reminder that not all share classes are created equally. Despite rising investor support for the principle of “One share, One vote”, including during the 2022 proxy season, the dual-class share ownership structure remains a popular option for retaining control, from multigenerational legacy businesses to leading edge founder-led startups. This session will discuss the pros and cons of entrenched ownership, the effectiveness of shareholder action, and the role of Index providers in pressuring dual-share structures.

  • Rob Du Boff, CFA, Senior ESG Analyst, Bloomberg Intelligence, USA
  • Julie Goodridge, Founder & Chief Executive Officer, Northstar Asset Management, USA
  • Claire Keast-Butler, Partner, Cooley, UK
  • Chair: George Dallas, Policy Director, ICGN, UK

  15:05 – 15:55

  Plenary 5: Engagement – it’s a two-way street, hosted by Alliance Advisors

  Both issuers and institutional investors are engaging with each other year-round to exchange information on the issuers ESG journey and the investors’ voting guidelines and questions. Why do we then still see such a disconnect in the actual support rates at the next Shareholder Meeting? What role does the Proxy Advisor play in terms of engaging on behalf of their clients? Why are some investors not willing to engage with issuers at certain times of the year? What disclosures would make it easier to assess the issuer from the investor perspective? Alliance Advisors is bringing together panel participants from each viewpoint to help us understand their challenges and look for a way forward together.

  • Aarti Ramachandran, Director, Climate & Environment, Sustainable Investment, UBS Asset Management, UK
  • Chris Rushton, Senior Director of Research Policy for EMEA and Latin America, Glass Lewis, Ireland
  • Christian Strenger, Vice-Chairman, DVFA Corporate Governance Commission, Germany
  • Chaired by: Joseph Caruso, CEO, Alliance Advisors, USA

  15:55 – 16:10

  Comfort Break

  16:10 – 16:30

  Book Launch of Governance Stewardship & Sustainability, 2nd Edition

  • George Dallas, Policy Director, ICGN
  • Mike Lubrano, Managing Director, Valoris Stewardship Catalysts

  16:30 – 17:30

  ICGN Global Awards Ceremony

  Welcome Remarks
  Kerrie Waring, CEO, ICGN

  Remarks from the Awards Committee                              
  Philip Armstrong, Governance Adviser & ICGN Awards Committee Chair

  2022 Awards Process and Acknowledgements               
  Anne-Marie Jourdan, Chargée de mission Direction Juridique Groupe, Caisse des Dépôts & ICGN Awards Committee

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  Global Stewardship Disclosure Awards

  Asset Manager under £60 billion presented by Anne-Marie Jourdan, Chargée de mission Direction Juridique Groupe, Caisse des Dépôts & ICGN Awards Committee

  Asset Manager £60 billionand over presented by Anne-Marie Jourdan, Chargée de mission Direction Juridique Groupe, Caisse des Dépôts & ICGN Awards Committee

  Asset Owner under £60 billion presented by Ian Burger, Chair, ICGN Board of Governors

  Asset Owner £60 billionand over presented by Ian Burger, Chair, ICGN Board of Governors

  Global Governance Awards                                               

  Excellence in Corporate Governance presented by George Dallas, ICGN Policy Director 

  ICGN 2022 Rising Star Award presented by Helen Price, Brunel Pension Partnership & 2021 ICGN Rising Star Winner and Carol Nolan Drake ICGN Governance & Stewardship Policy Manager

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  Nomination Process and Changes for 2023
  Carol Nolan Drake, ICGN Governance & Stewardship Policy Manager

  Concluding Remarks           
  Kerrie Waring, CEO, ICGN    

  17:30 – 19:30

  Awards Drinks Reception