Companies that know they are being closely watched by investors will try harder to perform well. In other words, a good corporate governance policy generally translates into a higher share price in the longer term.

PGGM’s client is fully aware of its social responsibility as a large institutional investor. The Listed Equity Ownership Policy defines how we advise our client on the way in which, as a major investor, it should actively exercise its rights as shareholder and how to communicate its views clearly.

PGGM reports on voting behaviour in accordance with the Dutch Corporate Governance Code (or ‘Tabaksblat code’) as follows:

• In accordance with the Listed Equity Ownership Policy, PGGM acts on behalf of its client as an active shareholder in listed companies. PGGM publishes reports on how it has exercised its client’s voting rights at least quarterly on its own website and publishes an annual review. 

• PGGM posts reports on its website on the shareholders’ meetings attended by or on behalf of PGGM. If PGGM is unable to attend a shareholders’ meeting itself, it grants power of attorney to another institutional investor to represent it or votes electronically (proxy voting). The way PGGM votes at general meetings can be followed item by item on this website via the 'Vote Disclosure Website' link.