PLSA Stewardship & Voting Guidelines 2024

The Pensions and Lifetime Savings Association (PLSA) has published its Stewardship & Voting Guidelines 2024, which set out the PLSA's views and voting recommendations on key issues.

Key new issues covered in the 2024 guidelines include:

• Cybersecurity – the guidelines note that both the shift to remote working and the geopolitical situation have increased cybersecurity risks and say that companies should reflect this in their policies and procedures. There are voting recommendations for investors where companies make poor disclosures on cybersecurity risks in their annual report or where these risks are not adequately managed;
• AI – a new section on AI says that companies should monitor their use of AI and adopt frameworks for its acceptable use. Investors should consider voting against the re-election of a director if there is evidence of "egregious conduct" attributable to them in relation to the development or deployment of AI;