Allianz Global Investors has announced that, beginning next year, it will be voting against UK businesses that do not link executive pay with ESG performance.
In 2021, 47% of the management proposals which were turned down by Allianz were due to renumeration related issues.
Allianz is not the only investment bank who are linking executive pay with ESG. The move comes as a wider trend, highlighted by a recent study showing that 60% of FTSE 100 companies link ESG benchmarks to executive pay.
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