During the AGM season, we have seen repeated examples of asset owners’ huge power to hold management to account and drive positive change due to the fear they will vote against motions or capital will be allocated elsewhere.
Some companies have met this challenge head on. There are many examples of public companies, including real estate businesses such as British Land, leading the way on improving diversity and inclusion. Yet there has been a distinct lack of progress in private markets, particularly in real estate.
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