NATIONAL GRID PLC | To re-elect Paula Rosput Reynolds as a Director of the Company.

Status
95.87% votes in favour
AGM date
Previous AGM date
Proposal number
3
Resolution details
Company ticker
NG.
Submitted by
-
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Environment
ESG sub-theme
  • Lobbying / political engagement
Type of vote
Director vote
Filer type
Management
Company sector
Utilities
Company HQ country
United Kingdom
Whereas clause
The Church of England Pensions Board has expressed its intention to vote against the re-election of National Grid’s Chair, Paula Rosput Reynolds due to a failure to produce disclosure on the company’s lobbying activities on climate change.

For further details, access: https://www.churchofengland.org/media-and-news/press-releases/church-england-pensions-board-pre-declares-vote-against-chair-and-ceo
Supporting statement
Excerpt taken from statement released by The Church of England Pensions Board:

"National Grid has been a Climate Action 100+ focus company for five years, and as part of this, has been urged by shareholders including the Pensions Board, to produce regular, transparent disclosures on their own climate policy positions and that of their industry associations,” said Laura Hillis, Director, Climate and Environment at the Church of England Pensions Board. “Unfortunately, despite repeated efforts to engage this company on this issue, they have not yet committed to produce a report. The company is now one of only two European utilities engaged by Climate Action 100+ to have failed to provide its investors with this disclosure. For this reason, we are voting against the re-election of the Chair and CEO, who are responsible for providing clear, timely and transparent disclosure on important issues to the company’s shareholders."

How other organisations have declared their voting intentions

Organisation nameDeclared voting intentionsRationale
AP7ForWe welcome National Grid’s commitment to undertake regular lobbying reviews as communicated in the updated Global Corporate Policy on Responsible Lobbying and Political Engagement. AP7 has revised its previous voting intentions as a result of the decision. AP7 will vote in support of both the Chair and CEO.

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