01 Our sustainability approach 02 Sustainable investing 03 Active stewardship 04 Corporate sustainability 05 Appendix 03.7 Exercising our voting rights Principles 2 7 8 11 12 03.7.1 Ensuring a robust with our provider, ISS. The reporting AllianzGI proxy voting process voting process contains asset class information to clearly All proxy voting research and initial voting show which accounts require attention. recommendations are generated based We also conduct a quarterly audit across on our proprietary proxy voting policy. all our funds with data reviewed by Proxy voting research is provided by the Compliance team. We review and Portfolio General meetings: Application of Automated vote Vote Institutional Shareholder Services (ISS), challenge unvoted meetings. holdings date and agenda AllianzGI’s PV policy implementation execution a third-party proxy voting service provider. We take a risk-based approach to We use an electronic proxy voting research and analysis around proxy platform provided by ISS to cast our voting. This means the Stewardship Selection votes. Our Stewardship team is in ongoing team focuses its efforts on reviewing criteria apply contact with ISS whenever questions shareholder meeting proposals for the arise with regards to a specific piece of proportion of holdings in our portfolios research and the application of our policy. deemed particularly important to us and Additionally, we hold quarterly review potentially higher risk. These holdings are Case-by-case review meetings to review broader process mainly large aggregate positions across Review by Manual vote Vote issues involving teams responsible for our strategies, core holdings in individual stewardship analyst implementation execution compliance and the operational integrity funds, companies with an ongoing of the voting process next to members of engagement activity, etc. Our proxy the Stewardship team. voting policy is consistently applied to the team for further analysis before reaching In a minority of cases, we apply policy remaining holdings. a consensus decision. For policy overrides, overrides – for example, when we We review a weekly report from internal consultations involving analysts gain additional information following AllianzGI’s Central Enterprise Data Once reviewed, proposals are posted and portfolio managers also take place engagement that is pertinent to the voting 11 on an internal global research and through this platform. We aim to have decision, or when a company makes a Repository specifically centred around voting rights and entity. This picks up collaboration system which is accessible one integrated view when it comes to commitment that we consider important. any change or addition to voting rights to our Investment teams. This means proxy voting decisions. In exceptional We may also override policy to factor in (and the effective dates of these changes) they can review potentially contentious cases where we do not reach consensus, specific circumstances concerning the attached to all accounts and informs proposals for holdings in their portfolios voting decisions are escalated to the Proxy company, for instance its business context. operations to update these statuses and discuss them with the Stewardship Voting Committee. 11 The internal repository for all of AllianzGI’s vehicle, investment, operational (static) data. Allianz Global Investors Sustainability and Stewardship Report 2022 87