Environmental, Social and Governance
An analysis of environmental, social and corporate governance (ESG) factors forms an inherent part of our investment process. Over many decades of investing, we recognise that ESG issues can have significant financial impacts on a company’s long-term value and returns to shareholders.
Our investment team meets with hundreds of company executives and board members each year to examine and evaluate the ESG issues confronting their businesses. We directly engage with management on issues we believe will erode shareholder value, particularly corporate governance policies and practices.
We consider a range of ESG issues as outlined in the table below.
ESG Investment Statement
Potential liabilities and future growth implications arising from a range of ESG issues are factored into our company forecasts and valuations. Our ESG Investment Statement outlines how specific ESG factors are integrated into our investment approach.
Proxy Voting Statistics
We carefully assess each resolution put to shareholder meetings by companies we invest in conducting our own in-depth research, rather than relying on external advisers. We engage with a company’s management and/or Board as required and exercise our proxy votes on a case-by-case basis.
A summary of Argo’s proxy voting record in recent years is provided below.
|Financial year||Total Meetings||Resolutions Voted AGAINST ‘Remuneration’||Resolutions Voted AGAINST ‘Other’|
|2015||104||6 (+ 1 abstain)||6|
|2016||115||5 (+ 2 abstains)||11|
|2019||97||2||2 (+ 1 abstain)|
|2020||92||3 (+ 1 abstain)||4 (+ 1 abstain)|
|2022||96||1 abstain||1 abstain|
|2023||92||2 (+ 1 abstain)||1 (+ 1 abstain)|