标准普尔：2023欧洲公司治理季评（英文版）（39页）.pdf

1、November 2023European Corporate Governance Season Review 2023Title of Report|European Corporate Governance Review 2023|2Methodology 3Beyond the Boardroom:A Year of Engaged Shareholders in Europe 4Spotlight on European remuneration 6State of shareholder activism 10Germany:Virtual evolution 13Austria:

2、Contentious article amendments 17Switzerland:Welcoming flexible capital band authorities 20France:Leading in climate accountability 23United Kingdom:Inclusive excellence and the cost-of-living impact 26Spain:Positive response to investors demands 29Belgium:Bridging the gap in executive remuneration

3、32Investor intelligence 35Table of contentsEuropean Corporate Governance Review 2023|3MethodologyThis review looks at AGM-related data of seven European markets(“EMEA Markets”)and their domestic indices as indicated:Germany:DAX,MDAX,and SDAX Austria:ATX 20 Switzerland:SMI&SMIM France:SBF 120 United

4、Kingdom:FTSE 100 Spain:IBEX 35 Belgium:BEL 20For each market,our sample consists of data from Annual General Meetings(“AGM”or“AGMs”)that occurred between Jan.1 and June 30 for the three seasons(2021,2022 and 2023)under examination.We have chosen to exclude data from AGMs of companies headquartered i

5、n foreign regions.The data used for all graphs in this review are updated as of August 2023.“Support”in this review holds a universal meaning in each chapter.It refers to the percentage of for votes as disclosed by each company through public disclosure.However,where this information was not possibl

6、e to ascertain due to a lack of disclosure,such as in cases where the company only provided the number of shares voted for each item,this was calculated manually using the following methodology:MarketFormula for Support RateGermanyFor/(For+Against)AustriaFor/(For+Against)SwitzerlandFor/(For+Against)