UK - The Co-operative Insurance Society has called on institutional investors to open up their voting records to public scrutiny.
Chief operating officer Finian O’Boyle said the move would create more corporate transparency and help restore trust in business.
O’Boyle said: “Institutions have a duty to fully exercise their voting rights – companies’ annual general meetings provide an invaluable opportunity to express opinion on a wide range of issues and in the interests of transparency, institutions should reveal how and why they have voted on any one issue.”
O’Boyle was speaking at the launch of CIS’s own social accountability report – which shows that during 2002 the organisation voted on 12,043 motions at 1551 general meetings in the UK and overseas – with its additional information on its website showing exactly how it voted at each meeting.
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