In this new stewardship piece: “Vanguard’s approach to shareholder proposals related to worker health and safety,” Vanguard discusses its decisions to vote against four 2023 proxy season shareholder proposals that sought workplace safety practice audits to explain its view as to companies’ management, board oversight, and disclosure of workforce health and safety risks. Consistent with its stewardship approach on other topics, Vanguard’s voting decisions on such proposals are facts-and-circumstances-based and consider materiality to the company, existing company practices, and the quality and prescriptiveness of the proposals.
This post first appeared in the weekly Society Alert!