As a long-term shareowner, we view proxy voting as one of the primary ways to influence a company's operations and corporate governance practices. It is therefore important for shareowners like us to vote our proxies based on the full understanding of publicly available information.
We vote our proxies in accordance with our Governance & Sustainability Principles, and publicly post our votes in advance of each company's annual general meeting.
Governance & Sustainability Principles
As part of the Total Fund Policy adopted by the CalPERS Board, through its Investment Committee, CalPERS has a set of Governance and Sustainability Principles. For more information on CalPERS proxy voting, read the CalPERS Governance & Sustainability Principles (PDF).
Proxy Voting Guidelines
The CalPERS proxy voting guidelines provide an overview of our general philosophy and approach to the most important and commonly presented proxy voting items. Our proxy voting guidelines should be read in conjunction with the CalPERS Governance & Sustainability Principles. We vote our proxies in a manner consistent with these principles and in the interests of our beneficiaries. Read more about our Proxy Voting Guidelines (PDF) and Executive Compensation Analysis Framework (PDF).
We publish additional voting information to highlight some notable votes to encourage shareowners to vote in accordance with CalPERS. All votes are provided for informational purposes only and do not constitute investment advice.
CalPERS conducts proxy solicitations on shareowner proposals either filed by CalPERS or shareowner proposals that are aligned with CalPERS initiatives. You can view CalPERS proxy solicitations at the U.S. Securities and Exchange Commission website.
We publish our proxy voting decisions to encourage shareowners to vote in accordance with CalPERS. These votes are for informational purposes only and not intended as investment advice.
To view a record of CalPERS' proxy votes as of January 1, 2015, visit Global Proxy Voting Decisions.
Below are CalPERS' proxy voting trends over the past five fiscal years:
Figure 1: Number of Meetings Voted Globally
Figure 2: Number of Resolutions Voted Globally
Figure 3: Global Management Proposals
Figure 4: Global Shareowner Proposals
Figure 5: United States Management Proposals
Figure 6: United States Shareowner Proposals
Figure 7: International Management Proposals
Figure 8: International Shareowner Proposals
Figure 9: United States Executive Compensation Votes