Power Corporation of Canada | ADVISORY VOTE ON ENVIRONMENTAL POLICIES at Power Corporation of Canada

Status
Filed
AGM date
Previous AGM date
Proposal number
2
Resolution details
Lead filer
Mouvement d'éducation et de défense des actionnaires (MÉDAC)
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
ESG sub-theme
  • Climate change
Filer type
Shareholder
Company sector
Energy
Company HQ country
Canada
Resolved clause
It is proposed that the company adopt a policy on annual advisory vote with respect to its environmental and climate objectives and action plan.
Supporting statement
As a reminder, the advisory vote is a tool for dialogue, not compulsion. The proposal is neither intended to impose specific climate targets nor to challenge management’s strategy. It simply provides a framework for: > Transparency; > Accountability; and > Reasonable shareholder participation on a matter of systemic importance. Much like the advisory vote on executive compensation, the Say on Climate mechanism enables shareholders to express the degree of confidence they place in the company’s course of action, without creating any legally binding obligation. An advisory vote would provide management with an annual opportunity to showcase its progress while simultaneously strengthening market confidence. This proposal received the support of 13.97% of the votes of holders of “Subordinate Voting Shares” at last year’s annual meeting. This level of support sends a clear signal: a meaningful proportion of shareholders are calling for a structured and recurring engagement on Power Corporation’s climate strategy. Accordingly, we are submitting this proposal again this year, with full transparency and in a spirit of continuity, with the objective of strengthening the environmental dialogue between Power Corporation and its shareholders, without in any way changing the management’s strategic role.

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