As an institutional investor, the Nathan Cummings Foundation has a fiduciary duty to vote its proxies. The Foundation has developed in-depth voting guidelines to assist in the process of voting the proxies associated with the stocks it owns. The Foundation's votes are guided by the recommendations of RiskMetrics Group's US Policy and by the Foundation's overall themes of accountability, transparency and social and economic justice.
When it comes to environmental, social and governance (ESG) proposals, the Foundation believes that by considering a proposal's implications for long-term shareholder value and voting in line with NCF's program objectives, it can help to send a strong message to management that the issues involved are worthy of serious consideration. The higher the level of support a proposal receives, the greater the likelihood that management will engage the filers on the issues raised in a resolution.