At Goldman Sachs Asset Management, we are committed to promoting and exercising effective stewardship among the companies represented in the portfolios we manage on behalf of our investing clients. We believe stewardship, active engagement, and integration of Environmental, Social, and Governance (ESG) factors play an important role in active investment management. Please see Our Approach to Stewardship for more information on the main elements of our stewardship program and how we seek to apply them.
We demonstrate responsible ownership through our global proxy voting policy, which is updated annually to incorporate current beliefs on key governance and ESG topics. We regularly engage company management teams throughout the year. We disclose our votes publicly to comply with various regulations and global stewardship codes.
We are active participants in various ESG industry efforts, and strive to balance the depth and quality of our contributions, as well as to be transparent and collaborative in our approach. This page outlines how we evidence our commitments to various industry collaborations around the globe.
Our 2021 Stewardship Report highlights our proxy voting and engagement efforts.
Meetings voted in 2021
Proposals voted in 2021
Directors voted against for lack of diversity in 2021
Engagements in 2021
Companies engaged in 2021
Markets engaged in 2021
We aim to promote company disclosure of material climate risks through established frameworks as well as focus on targets and net zero strategy. We also seek to identify and address companies’ impacts on biodiversity.
We seek to increase diversity on corporate boards globally and promote best practices in diversity and inclusion across all levels of the workforce. We also aim to encourage strong company commitment to workforce health and safety, particularly in response to Covid-19.
We look to engage with companies on capital allocation, executive compensation, shareholder rights, and potential violations of the United Nations Global Compact (UNGC). We also aim to gather information to make informed proxy voting decisions.
As a component of our ESG integration, Goldman Sachs Asset Management has published our inaugural Fixed Income Engagement Report, highlighting the firm’s ESG commitment within the fixed income investment landscape. Over the course of 2021, our corporate credit research analyst teams engaged with approximately 827 corporate issuers1 on ESG related topics. We hope this report helps you to understand our ESG commitment and provides valuable insights into the work we have done.
EU Shareholder Rights Directive II
Annual Disclosure of Voting Activities
Annual Reporting to Fund Investors Disclosure
Institutional Investors Disclosure
Our Global Approach to Stewardship
1 We also engage with other bond issuers including sovereigns, municipalities and supra-nationals.
Views and opinions expressed are for informational purposes only and do not constitute a recommendation by GSAM to buy, sell, or hold any security. Views and opinions are current as of the date of this page and may be subject to change, they should not be construed as investment advice.
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This material is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client’s account should or would be handled, as appropriate investment strategies depend upon the client’s investment objectives.
This information discusses general market activity, industry or sector trends, or other broad-based economic, market or political conditions and should not be construed as research or investment advice.
The engagement/proxy voting highlights presented here outline examples of Goldman Sachs Asset Management initiatives, there is no assurance that Goldman Sachs' engagement/proxy voting directly caused the outcome described herein.
Environmental, Social, and Governance (“ESG”) strategies may take risks or eliminate exposures found in other strategies or broad market benchmarks that may cause performance to diverge from the performance of these other strategies or market benchmarks. ESG strategies will be subject to the risks associated with their underlying investments’ asset classes. Further, the demand within certain markets or sectors that an ESG strategy targets may not develop as forecasted or may develop more slowly than anticipated.
Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. We have relied upon and assumed without independent verification, the accuracy and completeness of all information available from public sources.
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