The issue

The company was not meeting our minimum requirements when it came to climate change and board diversity, which would have resulted in a vote against directors at the AGM.

The outcome

As Lynch Group has demonstrated they were improving their disclosures and board diversity, we changed our vote and supporting management,

In regards to the company's management of ESG risks relating to modern slavery and supoly chain, they explained they were currently not in a position to place a chief sustainability officer, as it has been facing headwinds due to cost of energy and other factors; however, there were a few ‘non-negotiables’ for its sustainability committee, including modern slavery. As a result, we expect to see better disclosure about the work it is undertaking during 2023.