We expect our investment manager, Investment Management Corporation of Ontario (IMCO), to influence investee companies through engagement and shareholder voting to improve corporate practices. We view proxy voting as an important tool to encourage companies to provide adequate disclosure to shareholders relating to ESG factors, policies and initiatives. IMCO, on OPB’s behalf, exercises voting rights for all securities owned by OPB, in accordance with its Proxy Voting Guidelines (PDF)(opens in a new tab) and Responsible Investing Policy.
We also expect IMCO to consider divesting from investments where insufficient action is taken to address those issues.
IMCO publishes its proxy voting record(opens in a new tab) before each shareholder meeting.