Asset manager Fidelity International, holding assets of $787bn, has announced its new Sustainable Investing Voting Principles and Guidelines, introducing new global policies on climate change and gender diversity.

Through engagement and voting, Fidelity aims to improve the governance and sustainability behaviours of its investee companies. The new policy will see Fidelity increasingly hold investee companies to account, utilising its right to vote against boards that do not meet expectations.

“At Fidelity, we believe that exercising our ownership rights by voting at company meetings is a fundamental responsibility for shareholders,” said Jenn-Hui Tan, global head of stewardship and sustainable investing, Fidelity International. “Through the use of engagement and voting, we aim to improve the governance and sustainability behaviours of our investee companies.”

The Sustainable Voting Principles and Guidelines cover 12 topics focusing on key environmental, social and governance (ESG) areas detailing summary voting principles and Fidelity International’s expectations for its investee companies.

Fidelity now expects investee companies to take action to manage climate change impacts and reduce their greenhouse gas (GHG) emissions and make specific and appropriate disclosures around emissions, targets, risk management and oversight. From 2022, where companies fall short of its minimum expectations, Fidelity will vote against company management.

Share Story: