EMS-Chemie Holding AG | Chair election at EMS-Chemie Holding AG

Status
94.70% votes in favour
AGM date
Resolution details
Company ticker
SWX: EMSN
Submitted by
-
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Environment
ESG sub-theme
  • Climate change
Type of vote
Director vote
Filer type
Management
Company sector
Industrials
Company HQ country
Switzerland
Whereas clause
AP7 has expressed its intention to vote AGAINST the re-election of Mr Bernhard Merki (Item 6.11).
Supporting statement
AP7 intends to vote against Mr Bernhard Merki (Item 6.1.1), the chair of the board of Swiss chemical manufacturer EMS-Chemie Holding AG. The vote marks AP7’s dissatisfaction with the company’s climate-related disclosure, which provides insufficient transparency on the company’s climate transition strategy and governance.
A vote against the chair is in line with AP7’s intent to hold the Board of Directors accountable for delivering credible climate transition plans as published earlier this year https://www.ap7.se/aktuellt/board-responsibility-for-climate-transition-in-focus-during-the-agm-season/ In an evaluation by Transition Pathway Initiative (TPI) of the company’s public disclosure, EMS-Chemie receives a Management Quality score of 1. Only 2 of 57 chemical companies assessed by TPI receive this bottom-ranked score.
The very recently released 2022 Sustainability Report and the 2023 CDP Climate Change submission demonstrate some improvements in transparency, which is welcomed.

How other organisations have declared their voting intentions

Organisation name Declared voting intentions Rationale
AP7 Against AP7 intends to vote against Mr Bernhard Merki (Item 6.1.1), the chair of the board of Swiss chemical manufacturer EMS-Chemie Holding AG. The vote marks AP7’s dissatisfaction with the company’s climate-related disclosure, which provides insufficient transparency on the company’s climate transition strategy and governance.
A vote against the chair is in line with AP7’s intent to hold the Board of Directors accountable for delivering credible climate transition plans as published earlier this year https://www.ap7.se/aktuellt/board-responsibility-for-climate-transition-in-focus-during-the-agm-season/ In an evaluation by Transition Pathway Initiative (TPI) of the company’s public disclosure, EMS-Chemie receives a Management Quality score of 1. Only 2 of 57 chemical companies assessed by TPI receive this bottom-ranked score.
The very recently released 2022 Sustainability Report and the 2023 CDP Climate Change submission demonstrate some improvements in transparency, which is welcomed.

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