TIAA-CREF exercises its shareholder rights by trying to influence the ESG policies of the companies in which we invest. We employ this strategy across our entire portfolio, not just in our socially screened offerings. At TIAA-CREF, we view shareholder advocacy and corporate governance as essential parts of our fiduciary duty. Our Corporate Governance Department, along with the trustees of TIAA and CREF, work to advance high standards of corporate governance, strengthen shareholder rights and influence the ESG policies of the companies in which we invest.
TIAA-CREF’s Policy Statement on Corporate Governance (PDF) details our proxy voting guidelines and provides our perspective on best practices in corporate governance, including social and environmental issues.
TIAA-CREF engages with companies on issues that may pose economic risks or impact long-term shareholder value. Topics of engagement include shareholder rights, governance practices, and social and environmental issues.
When necessary, we file shareholder resolutions or employ other methods to promote constructive dialogue. In our view, engaging with companies in this way is more effective in changing corporate behavior than public confrontation or divestment of our shares. We continually meet with dozens of companies to address such areas of concern as executive compensation, board accountability, transparency, human rights, global climate change and other issues.
© 2009 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017
