At the AGM, Ethos recommends that Holcim shareholders vote against the remuneration proposals and the election of the new chairman. Ethos recommends , however, that the shareholders approve the spin-off of the North American business, and that the new entity set ambitious climate targets.

Ethos believes that the information published by the company regarding the filtered water scandal in France is insufficient. In view of the ongoing investigations and proceedings, shareholders should not grant discharge to the board of directors for the year 2024. Ethos also recommends opposing the remuneration report and the sustainability report.

The members of the Ethos Engagement Pool (EEP) International, comprising 122 institutionalinvestors representing more than 1.5 million insured people and CHF 300 billion in assets undermanagement, have decided to engage in a constructive dialogue with their main asset managers toensure that their voting rights at the general meetings of the companies in which they invest areexercised in accordance with their wishes and sensitivities . This campaign will be conducted jointly by representatives of Ethos, CPEG and MBS Capital Advice.

Comprehensive legal due diligence obligations in the areas of human rights and the environment strengthen the competitiveness of Swiss companies. The due diligence obligations should be compatible with European rules in order to achieve the necessary legal certainty. In a statement published today, Ethos, together with other domestic and foreign institutional investors, calls on the Swiss Parliament and the Federal Council to develop the existing regulation further and to advance the adjustments.

Voting at general meetings is a fundamental right of shareholders. To help them exercise this right, Ethos publishes its voting recommendations for companies listed in Switzerland and abroad five working days before the date of the AGM. These recommendations are based on a detailed analysis of all items on the agenda as well as on Ethos' voting guidelines, which are reviewed and updated every year. The full schedule is also available on our website.