PLSA Stewardship & Voting Guidelines 2023

The PLSA’s Stewardship and Voting Guidelines 2023 provide a framework for pension schemes trustees, and investors generally, to ensure that companies are held to account on key issues in the AGM season.

This edition takes into account:

• Recent political and economic events and circumstances, which have a direct impact on the evolving topics investors engage with when it comes to stewardship;
• Increased awareness and interest in social issues, with the inclusion of a new section on Workforce;
• How companies should be reporting on climate risk and impact;
• The latest gender/diversity standards that investors should take into consideration.

The guidelines also set out a framework for issues trustees should be considering in relation to board leadership and evaluation, audit and capital structure.

Correction. The above PDF was updated on 3rd April with the following changes to the second bullet point on page 69: a) The Pre-Emption Principles are equivalent to 10%, not 5% as at time of publication. b) The preceding period is 12 months, not six months as at time of publication.