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AllianzGI announces its intention to vote for three resolutions at the Alphabet upcoming AGM

02.06.2025 | Allianz Global Investors (AllianzGI), one of the world’s leading active investment managers, has announced today its intention to support three shareholder proposals at Alphabet’s upcoming Annual General Meeting (AGM) on June 6, 2025. The votes relate to Proposal 12 regarding a “Human Rights Impact Assessment of AI-Driven Targeted Ad Policies”, proposal Number 13 regarding a “Report on Alignment of Lobbying Activities with Child Safety Policies” and proposal Number 14 regarding a Report on Online Safety for Children.

Alphabet’s upcoming Annual General Meeting is on 6 June.

Advertisements are a major part of Alphabet’s business, accounting for almost 75% of its revenues. Allianz Global Investors recognises the important role Artificial Intelligence (AI) has in growing this business. As shareholders AllianzGI is excited to see new growth opportunities and understand that Alphabet has policies in place to deal with related risks. Yet AllianzGI believes that a board commissioned human rights impact assessment by a third party is in Alphabet’s interest to achieve better validation of existing AI-related policies and provide shareholders with greater transparency.

AllianzGI will vote in favour of the Proposal Number 12 requesting the Board of Directors of Alphabet Inc. to “publish an independent third-party Human Rights Impact Assessment (the “Assessment”), examining the actual and potential human rights impacts of Google’s artificial intelligence-driven targeted advertising policies and practices. This Assessment should be conducted at a reasonable cost; omit proprietary and confidential information, as well as information relevant to litigation or enforcement actions; and be published on Alphabet’s website by June 1, 2026.”

Allianz Global Investors additionally intends to support the proposals 13 and 14.

Matt Christensen

Matt Christensen, Global Head of Sustainable and Impact Investing at AllianzGI, commented: "Our decision to vote for these three proposals reflects the high importance we give to social issues that can materially affect a business. With our support, we want to highlight the growing importance of AI and especially the impact it has on a range of social issues. We expect companies we are invested in to address this proactively and, as appropriate, we will engage with them to better understand their approach.” 

Earlier this year, AllianzGI published its annual analysis of how it voted at AGMs in 2024 around the globe, based on its participation in 8,879 (2023: 9,137) shareholder meetings and voting on around 90,000 shareholder and management proposals. AllianzGI voted against, withheld, or abstained from at least one agenda item at 72% (2023: 71%) of all meetings globally. The firm opposed 19% of capital-related proposals, 22% of director elections, and 41% of remuneration-related proposals, reflecting its high expectations for governance standards.

For further information please contact:

Marion Leblanc-Wohrer
M:+6 85 15 74 54
Email: Marion.leblancwohrer@allianzgi.com



About Allianz Global Investors:

Allianz Global Investors is a leading active asset manager with over 650 investment professionals in over 20 offices worldwide and managing EUR 571 billion in assets. We invest for the long term and seek to generate value for clients every step of the way. We do this by being active – in how we partner with clients and anticipate their changing needs, and build solutions based on capabilities across public and private markets. Our focus on protecting and enhancing our clients’ assets leads naturally to a commitment to sustainability to drive positive change. Our goal is to elevate the investment experience for clients, whatever their location or objectives.

Allianz Global Investors

Data as at 31 December 2024. Total assets under management are assets or securities portfolios, valued at current market value, for which Allianz Global Investors companies are responsible vis-á-vis clients for providing discretionary investment management decisions and portfolio management, either directly or via a sub-advisor (these include Allianz Global Investors assets which are now sub-advised by Voya IM since 25 July 2022). This excludes assets for which Allianz Global Investors companies are primarily responsible for administrative services only. Assets under management are managed on behalf of third parties as well as on behalf of the Allianz Group.

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