Vanguard’s investment stewardship activities are an important part of our mission to give investors the best chance for investment success.
We publish Investment Stewardship Insights to provide investors, portfolio companies, and other interested parties with timely perspectives on important governance topics and key votes.
Voting Insights disclose our rationale for how the Vanguard-advised funds voted on key proposals at specific companies. Policy Insights provide our views on important governance topics.
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Voting Insights
May 03, 2022
This piece provides rationale for how the Vanguard funds voted on certain shareholder proposals on the docket at Berkshire Hathaway’s annual meeting.
Voting Insights
April 27, 2022
This piece outlines rationale for why the Vanguard funds did not support several shareholder proposals related to human capital management matters.
Voting Insights
April 27, 2022
This piece provides rationale for why the Vanguard funds withheld support for certain compensation committee members due to concerns about executive compensation.
Voting Insights
April 27, 2022
This piece provides rationale for the Vanguard funds’ support for the issuance of shares in connection with Skillsoft’s acquisition of Ryzac, Inc.
Voting Insights
March 24, 2022
This piece provides rationale for why the Vanguard funds did not support a shareholder proposal that requested the board not use adjusted financial metrics when calculating executive compensation.
Policy Insights
March 18, 2022
This piece outlines our principles of good governance and our regional expectations and is designed to be read alongside our proxy voting policies.
Voting Insights
March 03, 2022
This piece provides rationale for the Vanguard funds’ support for a shareholder proposal focused on GHG emissions at the operator of members-only warehouse outlets.
Policy Insights
December 21, 2021
This piece provides Vanguard’s perspective on the risks that coal production and consumption can pose to long-term investors.
Voting Insights
December 13, 2021
This piece provides the rationale for the Vanguard funds' votes on several shareholder proposals at the Australian utility.
Voting Insights
November 03, 2021
This piece provides the rationale for the Vanguard funds’ votes on several shareholder proposals at the package logistics company.
Voting Insights
November 03, 2021
This piece provides the rationale for the Vanguard funds’ votes on several shareholder proposals at the footwear and apparel company.
Voting Insights
November 03, 2021
This piece provides the rationale for the Vanguard funds’ votes on several shareholder proposals at the electric vehicle manufacturer.
Voting Insights
October 12, 2021
This piece provides the rationale for the Vanguard funds' vote on a proposal asking shareholders to approve the biotech company's conversion to a public benefit corporation.
Voting Insights
September 24, 2021
This piece discusses the Vanguard funds' votes and supporting rationale on climate proposals for the six months ended June 30, 2021.
Voting Insights
September 24, 2021
This piece discusses the Vanguard funds' votes and supporting rationale on diversity proposals for the six months ended June 30, 2021.
Voting Insights
September 21, 2021
This piece provides the rationale for the Vanguard funds' recent votes at Australia's largest utility.
Voting Insights
September 13, 2021
This piece provides the rationale for our vote on a proxy contest involving risk oversight and shareholder rights at Box, Inc.
Voting Insights
August 31, 2021
This piece provides the rationale for a vote on named executive officer compensation at the video game company.
Voting Insights
August 31, 2021
This piece provides the rationale for a proxy contest vote related to oversight of strategy and risk at the footwear retailer.
Voting Insights
July 07, 2021
This piece provides Vanguard’s rationale for a vote on a diversity, equity, and inclusion-related proposal at Amazon.
Voting Insights
July 07, 2021
This piece provides the rationale for a vote on a human rights shareholder proposal at American Tower.
Voting Insights
July 07, 2021
This piece provides Vanguard’s rationale for a vote on diversity, equity, and inclusion disclosures at PayPal.
Voting Insights
July 07, 2021
This piece provides Vanguard’s rationale for votes on lobbying, climate, and diversity and inclusion disclosures at UPS.
Voting Insights
July 02, 2021
In the wake of an independent investigation in Japan, this piece provides Vanguard's rationale for not supporting the reelection of several directors at Toshiba.
Voting Insights
June 18, 2021
This piece provides the rationale for votes on executive remuneration and director elections at Boohoo.
Voting Insights
June 15, 2021
This piece provides the rationale for a vote on a proposal requesting that Sempra publish a report on how its lobbying activities align with the goals of the Paris Agreement.
Voting Insights
June 15, 2021
This piece provides the rationale for votes on proposals that focused on emissions reductions and lobbying activities at Phillips 66.
Voting Insights
June 04, 2021
This piece provides the rationale for votes on climate-related proposals at Royal Dutch Shell.
Voting Insights
June 04, 2021
Vanguard's rationale for a climate-related vote at Union Pacific.
Voting Insights
June 04, 2021
This piece provides the rationale for votes on independent chair and political contributions proposals at Duke Energy.
Voting Insights
June 04, 2021
This piece provides Vanguard's rationale for votes on independent chair and lobbying disclosure proposals at Dominion.
Voting Insights
May 27, 2021
This piece provides the rationale for a vote on a climate-related shareholder proposal at BP plc.
Voting Insights
May 26, 2021
This piece provides the rationale for our votes on a proxy contest and shareholder proposals related to material risk oversight at Exxon Mobil.
Voting Insights
May 07, 2021
This piece provides Vanguard's rationale for a recent vote on diversity, equity, and inclusion disclosures at American Express.
Voting Insights
May 06, 2021
This piece provides the rationale for recent votes on executive remuneration and director elections at Rio Tinto.
Voting Insights
May 05, 2021
This piece provides Vanguard's rationale for recent climate-related votes at Santos Limited.
Voting Insights
May 05, 2021
This piece provides Vanguard's rationale for a recent climate-related vote at Woodside Petroleum.
Voting Insights
May 04, 2021
This piece provides the rationale for a vote on a greenhouse gas emissions reduction proposal at ConocoPhillips.
Voting Insights
April 30, 2021
This piece provides the rationale for recent votes on director elections and lobbying policy at Boeing.
Voting Insights
April 19, 2021
This piece provides Vanguard's rationale for a recent vote on executive remuneration at UniCredit.
Voting Insights
February 24, 2021
This piece provides the rationale for a recent vote on human rights disclosures at Sanderson Farms.
Voting Insights
February 12, 2021
This piece provides the rationale for votes related to risk oversight at Tyson.
Voting Insights
February 12, 2021
This piece provides the rationale for a recent vote on executive compensation at Walgreens.
Voting Insights
February 12, 2021
This piece explains the rationale for a vote on a shareholder rights proposal at Siemens.
Voting Insights
February 12, 2021
This piece provides the rationale for a recent vote on executive compensation at Aramark.
Policy Insights
June 03, 2021
This piece provides Vanguard's perspectives on climate risk governance through Say on Climate proposals.
Policy Insights
May 28, 2021
This piece covers Vanguard's approach to evaluating DEI-related shareholder proposals, including requests for third-party audits.
Policy Insights
March 31, 2021
This piece provides Vanguard's perspectives on a board's oversight of material risks related to political spending.
Policy Insights
March 31, 2021
This piece discusses how Vanguard evaluates instances in which public company directors may be "overboarded."
Policy Insights
February 24, 2021
This piece reinforces Vanguard's perspectives on executive compensation for the long term.
Policy Insights
February 02, 2021
This piece discusses Vanguard's key considerations for shareholder proposal analysis.
Policy Insights
December 24, 2020
This piece provides Vanguard's views on social risks and expectations of cultural heritage management in the context of events that have occurred in mining and other land-intensive industries.
Policy Insights
September 23, 2021
This piece outlines Vanguard’s approach to investment stewardship and describes our people, principles, processes, and policies.
Voting Insights
June 16, 2022
This piece provides rationale for how the Vanguard funds voted on several proposals at the Australian energy company.
Voting Insights
June 16, 2022
This piece provides rationale for how the Vanguard funds voted on several proposals at the Australian oil and gas producer.
Voting Insights
June 16, 2022
This piece provides rationale for why the Vanguard funds did not support a shareholder proposal at Goldman Sachs related to underwriting and lending for new fossil fuel development.
Voting Insights
June 08, 2022
This piece provides rationale for why the Vanguard funds supported the reelection of all the company’s director nominees.
Policy Insights
May 27, 2022
This piece provides rationale for how the Vanguard funds voted on supervisory board proposals at Mercedes, BMW, and Volkswagen.
Policy Insights
May 20, 2022
The piece provides Vanguard’s views on proposals that encourage greater disclosure of climate risks and allow shareholders to cast recurring votes on energy transition plans.
Policy Insights
May 20, 2022
This piece provides Vanguard’s perspective on executive compensation plans, including the use of financial and nonfinancial metrics.
Voting Insights
May 13, 2022
This piece provides rationale for why the Vanguard funds did not support a shareholder proposal that focused on anticompetitive practices at the pharmaceutical and biotechnology company.
Voting Insights
May 13, 2022
This piece provides rationale for why the Vanguard funds did not support an executive compensation-related shareholder proposal at the biopharmaceutical company.
Voting Insights
June 24, 2022
This piece provides rationale for why the Vanguard funds did not support a shareholder proposal focused on greenhouse gas emissions targets aligned with the Paris Agreement goals.
Voting Insights
July 13, 2022
This piece provides rationale for why the Vanguard equity index funds did not support a living wage shareholder proposal at the U.K. retailer.
Voting Insights
July 15, 2022
This piece provides rationale for why the Vanguard equity index funds supported a proposal requesting the company report on its political contributions.
Voting Insights
July 19, 2022
This piece provides rationale for why the Vanguard equity index funds did not support a range of proposals focused on human capital management issues and executive compensation at Amazon.
Voting Insights
June 21, 2023
This piece provides rationale for how the Vanguard-advised funds voted on contested director elections at AGL.
Voting Insights
June 21, 2023
This piece provides rationale for why the Vanguard-advised funds did not support a DEI-related proposal at UPS.
Policy Insights
June 20, 2023
This piece outlines how the Vanguard Investment Stewardship team, on behalf of Vanguard-advised funds, thinks about the role a board plays in listening to and responding to shareholder perspectives.
Voting Insights
June 09, 2023
This piece provides rationale for why the Vanguard-advised funds did not support a climate-related shareholder proposal at BP.
Voting Insights
June 09, 2023
This piece provides rationale for how the Vanguard-advised funds voted on several proposals at Charter Communications.
Voting Insights
May 23, 2023
This piece provides rationale for how the Vanguard-advised funds voted on contested director elections at two Italian companies.
Voting Insights
May 12, 2023
This piece provides rationale for why the Vanguard-advised funds voted against the discharge of board directors and senior management and did not support the reelection of two directors.
Voting Insights
April 20, 2023
This piece provides rationale for why the Vanguard-advised funds did not support a shareholder proposal requesting a third-party assessment of the company’s commitment to freedom of association and collective bargaining rights.
Policy Insights
February 16, 2023
This piece outlines what Vanguard-advised funds look for with respect to governance of material climate risks.
Policy Insights
January 25, 2023
This piece outlines the funds' consistent approach to evaluating contested director elections with the adoption of the universal proxy card.
Voting Insights
July 27, 2022
This piece provides rationale for why the Vanguard funds supported the election of a director and a proposal that requested Alphabet eliminate its multi-share class structure.
Voting Insights
November 08, 2023
This piece provides rationale for how the Vanguard-advised funds voted on contested director elections at Atos.
Voting Insights
November 07, 2023
This piece provides rationale for why the Vanguard-advised funds voted against proposals related to a racial equity audit at Home Depot.
Voting Insights
November 06, 2023
This piece provides rationale for why the Vanguard-advised funds supported management proposals at Qantas.
Voting Insights
November 03, 2023
This piece provides rationale for why the Vanguard-advised funds supported an executive pay proposal at TreeHouse Foods.
Voting Insights
November 01, 2023
This piece provides rationale for why the Vanguard-advised funds supported a climate-related shareholder proposal at Coterra.
Policy Insights
September 20, 2023
This piece outlines what the Vanguard-advised funds look for when ESG metrics are included in executive compensation plans.
Voting Insights
July 06, 2023
This piece provides rationale for why the Vanguard-advised funds did not support the reelection of the vice chair of the board of directors.
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