‘put it to vote’ says PircApril 2003
Companies have been urged to allow shareholders to vote on their corporate social responsibility policies at annual meetings.
The UK-based Pensions Investment Research Consultants says it believes firms ‘should consider putting their separate CSR polices or reports to the vote, in much the same way as remuneration reports are now required to be voted upon’.
The recommendation, which is made in shareholder voting guidelines produced by Pirc for its new GovernancePlus service (EP4, issue 10), says this ‘would enable shareholders to express opinions on these specific aspects of a company’s operations and improve accountability’.
It adds that in ‘situations of particular concern’ shareholders should also vote on the re-election of the CSR director responsible.
Pirc says GovernancePlus, which offers CSR voting advice to institutional investors and is an extension of Pirc’s existing corporate governance services, will allow it to develop a wider set of voting responses that take account of greater expectations in the field.
Already a member? click here to login