Proxy Voting

The New York State Common Retirement Fund votes by proxy on each proposal at annual meetings and special meetings of U.S. portfolio companies, as well as selected international companies. In the 2019 proxy season, the Fund cast nearly 30,000 votes at more than 3,000 companies.

Voting at annual meetings is part of the Comptroller’s fiduciary responsibility and is an effective means to communicate with boards of directors and management on ESG issues, increase value, and promote transparency and good governance.

The Fund makes all proxy voting decisions independently, consistent with its Environmental, Social & Governance Principles and Proxy Voting Guidelines, which are updated regularly to address new issues and refine positions based on updated research. To inform the Fund's independent voting decisions, we review a variety of materials and sources, including but not limited to U.S. Securities and Exchange Commission filings, analyst reports, relevant studies and materials from proponents and opponents of shareholder proposals, third-party independent perspectives and studies, and analyses from several corporate governance and ESG service providers.

In 2020, the Fund updated its Environmental, Social & Governance Principles and Proxy Voting Guidelines related to the management of climate change-related risks and opportunities; diversity and inclusion; anti-discrimination and workplace harassment; global labor standards and human rights; poor governance practices of newly public companies; and executive compensation plans.

To contact the Fund's Corporate Governance Program, please email [email protected]

Proxy Voting 2016 2017 2018 2019
Number of Company Meetings 3,246 3,249 3,198 3,273
Total Votes Cast 27,935 29,848 27,701 28,322
Management Proposals Voted 27,365 29,358 27,204 27,795
Shareholder Proposals Voted 570 490 497 527
Fund 2019 Voting Statistics on Shareholder Proposals and Management Proposals