How we voted in 2025, from policy to practice

This year’s proxy season was anything but quiet. At over 3,200 meetings, we cast votes on more than 43,000 resolutions, putting our votes to work for better governance, credible climate action, and stronger protections for people and nature.

Where we judged climate oversight as weak, biodiversity risk unmanaged, or diversity disclosure missing, we escalated and opposed directors. When remuneration plans were credible, we lent support.

Alongside voting, our engagements, research, and advocacy continue to shape outcomes and support better corporate practices. This report offers transparency into our decision making and reinforces our commitment to thoughtful, impactful stewardship.

The highlights

• Climate: Opposed directors at 42 companies that fell short on climate governance.
• Diversity: Held boards to account by voting against or abstain at 32 US and 4 UK companies for missing disclosure.
• Environment: Supported two-thirds of environmental proposals that met our standards.
• Human rights: Escalated at three companies in sensitive sectors, including automotive, for lacking adequate human rights policies.
• Nature: Voted against 49 boards where biodiversity risks were left unmanaged.
• Pay: Opposed around one in five UK executive pay policies where stakeholder alignment was missing.

Read the full 2025 Proxy Voting Season report for in-depth insights, case studies, and the stories behind the numbers.

Read the report: How we voted in 2025

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 performance is 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.