BURNABY, B.C. — An initiative led by the B.C. Common Workers’ Union that features pension funds, asset managers and socially accountable traders is elevating considerations about using virtual-only shareholder conferences and an erosion of shareholder democracy.
In an open letter, the group says that in idea virtual-only conferences might improve shareholder participation, however there may be proof because the pandemic started that they’ve as an alternative muted shareholder voices.
The 38 signatories to the letter embrace the California State Academics’ Retirement System, Desjardins World Asset Administration, the Church of England Pensions Board and Connor, Clark and Lunn Funding Administration.
Collectively, the group represents greater than $1.7 trillion in belongings beneath administration and advisory.
It’s asking S&P/TSX 60 firms to publicly disclose how they are going to guarantee shareholders’ statutory and customary legislation rights are being upheld.
The group says 57 per cent of S&P/TSX firms held virtual-only conferences in 2023 in contrast with zero in 2019.
This report by The Canadian Press was first printed April 18, 2024.
The Canadian Press
<!– Picture: 20240418130424-662157f0bb82e586caf5cd70jpeg.jpg, Caption:
An initiative led by the B.C. Common Workers Union that features pension funds, asset managers and socially accountable traders is elevating considerations about using virtual-only shareholder conferences and an erosion of shareholder democracy. The Bay Avenue Monetary District is proven in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette
–>
