The difficulty of accessing and comparing voting records led to the creation of OxProx, the social venture that Robertson founded and I now lead, the mission of which is to amplify investor stewardship. We have a few things in the works to amplify stewardship, but our first order of business is to build the world\u2019s first publicly accessible database for investors, advisors, researchers and others to easily access and compare institutional investors\u2019 voting records \u2014 free of charge.<\/p>\n

We envision this database as a public good that ushers in a new era of voting data transparency and accessibility. Hopefully, enhanced transparency will contribute to more thoughtful voting practices and narrow the gap between asset managers and owners over time. We also hope it can be a step toward greater participation in the voting system.<\/p>\n

A public database of proxy voting records will benefit investors in several ways. It will:<\/p>\n

\n
• Strengthen shareholder democracy<\/strong> by fostering a more informed, active and equitable market. Proxy voting databases are typically accessible only to those who can afford to pay corporate rates, which creates a significant information asymmetry between large and small investors. By increasing access to voting information, a public database enables all market participants to make more informed investment and voting decisions, regardless of their size.<\/li>\n
• Promote accountability<\/strong> by increasing access to voting information. A public database enables asset owners and beneficiaries to hold fund managers accountable for their votes, and to verify whether fund managers are voting in alignment with their stated policies and principles. Investors can track how their proxies are voted and take action if they find discrepancies or conflicts of interest.<\/li>\n
• Support investor stewardship<\/strong> by facilitating collaboration among stewardship leaders. With voting records more accessible, investors can more easily identify and collaborate with like-minded shareholders on ESG issues. This ability to form coalitions enhances the power of shareholders to promote corporate policies and practices that reduce risk and drive positive change.<\/li>\n<\/ul>\n

  All the above are beneficial to investors and contribute to healthy, functioning markets more broadly.<\/p>\n

  A call to action<\/h2>\n

  It is still early days for the OxProx public database, but you can check out a prototype of it on our website now. We\u2019ll be adding more investors and companies in the weeks and months ahead.<\/p>\n

  For now, we seek feedback and collaboration from market participants, particularly institutional investors who support the concept of a public database. While some investors may not want public scrutiny of their voting records, our hope is that leaders will stand up and champion this initiative, since transparency bodes well for them. By supporting proxy voting transparency, investors can contribute to a more accountable, efficient and equitable financial market, which is a form of stewardship in and of itself.<\/p>\n

  Dustyn Lanz is CEO of OxProx, a social venture with a mission to amplify investor stewardship through proxy voting.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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