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Response by Legal & General

Author: Legal & General, Published on: 9 October 2018

At LGIM we take our stewardship responsibilities seriously and devote significant resource to ensure our clients’ assets are protected and enhanced over time. We take an active approach to stewardship, using our scale as a global investment manager to influence company and market behaviours. In doing so, we strive to achieve positive societal impacts in the belief that it will create more sustainable long-term value.

If we believe changes are needed at a company, we will communicate this privately during our engagements or publicly, if necessary, by voting against the company at annual general meetings. In 2018, LGIM has voted against UK directors more than any other large asset manager...

More specifically on environmental issues, LGIM has also taken the unusual step of voting against company directors specifically due to their management of climate-related risks. LGIM has also supported more environmental shareholder proposals compared to other large asset managers.

Many thanks for your commitment to a transparent process.

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This is a response from the following companies: Legal & General Investment Management