How we defined the 2026 voting season

The proxy season in 2026 was a year that kept us busy. At more than 3,750 meetings, we cast votes on over 49,700 resolutions expressing support, raising concerns and holding companies to account.

Where governance standards were weak, remuneration was poorly aligned, shareholder protections were at risk, or long-term sustainability oversight fell short, we used our vote toexpress concern and escalate where appropriate.

Voting is a part of our wider stewardship toolkit. Alongside engagement, research and advocacy, it allows us to support progress, challenge poor practice and communicate the standards we expect of companies" – Sophie Johnson, Head of Governance and Voting

The highlights

• Board: 2,771 votes against or abstain on director elections.
• Climate: Voted against directors on climate grounds at 44 companies
• Diversity: Held boards to account by voting against more than 290 proposals wherediversity-related concerns were identified.
• Environment: Supported 40% of environmental proposals that met our standards.
• Human rights: Supported nine shareholder proposals seeking stronger human rightsstandards.
• Nature: Escalated at least 70 cases where biodiversity and nature-related risks werenot being adequately addressed.
• Pay: Voted against 1,908 executive pay proposals

Read the full 2026 proxy voting season report

Voting and engagements may not always apply to any specific Royal London Asset Management fund or strategy, as each will have different investment objectives. Please check your prospectus for details on specific product objectives.

For professional investors only. This material is not suitable for a retail audience.Capital at risk. This is a financial promotion and is not investment advice. Past performanceis not a guide to future performance. Reference to any security is for information purposes only and should not be considered a recommendation to buy or sell. The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change.