--- title: Politique Mosaic description: proxy voting mosaic vote responsible investment GIR voting guidelines politique de vote canada procuration investissement responsable engagement environnement social --- [Skip to content](https://www.gir-canada.com/en/politique-mosaic#main-content) Mosaic Voting Guidelines | GIR — Groupe Investissement Responsable Language: English [English EN](https://www.gir-canada.com/en/politique-mosaic) [Français FR](https://www.gir-canada.com/fr/politique-mosaic?hsLang=en) [![GIR logo](https://www.gir-canada.com/hubfs/GIR_logo_color%5B7765%5D.png)](https://www.gir-canada.com/en?hsLang=en) Menu [Request a demo](https://www.gir-canada.com/demander-une-d%C3%A9mo?hsLang=en) [Home](https://www.gir-canada.com/en?hsLang=en) [Services](https://www.gir-canada.com/en/services?hsLang=en) [Mosaic Voting Guidelines](https://www.gir-canada.com/en/politique-mosaic) [Publications](https://www.gir-canada.com/en/publications?hsLang=en) [About us](https://www.gir-canada.com/en/equipe?hsLang=en) [Partners](https://www.gir-canada.com/en/clients?hsLang=en) [Careers](https://www.gir-canada.com/en/carrieres?hsLang=en) Shared principles for a collective impact ![mosaic](https://www.gir-canada.com/hubfs/Logo-Mosaic-transparent.png) # Canada's new *collaborative* proxy voting guidelines Mosaic is a royalty-free voting guidelines designed by and for committed Canadian investors. Open, adaptable, and grounded in shared principles of responsible investment. [Download the guidelines](https://www.gir-canada.com/en/politique-mosaic#mlp-telecharger) [Schedule a meeting](https://www.gir-canada.com/en/politique-mosaic#mlp-rencontre) 7 Topics covered 39 Pages of guidelines 100% Canadian & independent Libre Royalty-free & open Why Mosaic ## A voting framework built for the Canadian context The name says it all: like a mosaic, these guidelines bring together a diversity of perspectives — from pension funds, foundations, asset managers, and religious communities — to form a coherent and unified whole. Expectations around autonomy and transparency in proxy voting practices are intensifying. Mosaic offers a credible, open, and collaborative alternative. ### Independent analytical framework Reduce your reliance on foreign proxy advisors. Mosaic offers an analytical framework entirely designed in Canada, by Canadian investors, aligned with local regulatory realities. ### Collaborative and open Co-developed with Canadian pension funds, foundations, and asset managers. Each organization can adopt it in full, incorporate specific criteria, or adapt it to their own policy. ### Comprehensive coverage From board governance to artificial intelligence, including climate, human rights, and executive compensation — 7 topics cover the full range of issues submitted to shareholder vote. ### Grounded in international standards The guidelines are built on the UN Guiding Principles, ILO standards, the Paris Agreement, the SDGs, and IFRS S1/S2 frameworks — a credible and globally recognized foundation. Summary ## What the Mosaic voting guidelines covers Built on the foundations of Canadian voting policies that have championed responsible investment best practices for decades, Mosaic takes these recognized standards further — structuring them into a modern, open, and adaptable framework. Here is an overview of the 7 topics covered, each with clear positions and precise voting criteria. 01Board of Directors Requires at least two-thirds independent members. Strict independence criteria including a 10-year tenure cap. Separation of board chair and CEO roles. Overboarding limits and a minimum 75% attendance threshold. Support for employee representation on the board and opposition to classified boards. Governance 02Compensation Opposition to CEO-to-worker pay ratios exceeding 200:1. Requires ESG criteria in executive compensation. Rejection of omnibus plans, phantom shares, and excessive golden parachutes (beyond 2x salary). Mandatory clawback provisions. Annual say-on-pay vote. Governance 03Auditor Opposition when non-audit fees exceed 25% of total fees. Auditor tenure limit of 10 years. Requires financial statements to reflect material climate-related risks, in line with Carbon Tracker Initiative recommendations. Governance 04Capital & Share Issuances Clear dilution thresholds for share issuances (20–50%). Opposition to dual-class share structures and supermajority requirements. Detailed criteria for equity-based compensation plans, including limits on total dilution and plan duration. Governance 05Shareholder Rights Protection of the right to call special meetings (10% threshold). Minimum 25% quorum requirement. Opposition to poison pills without shareholder approval. Case-by-case evaluation of mergers and acquisitions using a structured framework covering financial valuation, governance impact, process integrity, and stakeholder considerations. Governance 06M&A & Takeover Defences Case-by-case evaluation of mergers and acquisitions using a structured framework covering financial valuation, governance impact, process integrity, and stakeholder considerations. Detailed criteria for shareholder rights plans (poison pills), including a minimum 20% trigger threshold. Opposition to takeover defences adopted without shareholder approval. Governance 07ESG Responsibility & Emerging Issues Clear positions on pollution, water resources, biodiversity (TNFD framework), animal welfare, and circular economy. Comprehensive coverage of human rights, diversity equity and inclusion, racial equity, freedom of association, health and safety, Indigenous rights (FPIC), and just transition. Guidelines on artificial intelligence (ethical risks, board oversight), predatory lending, tax transparency, and lobbying. Requires disclosure of political expenditures and their alignment with company policies. Opposition to anti-ESG proposals. EnvironmentSocialGovernance Partners ## Co-developed with committed Canadian investors Mosaic was developed in collaboration with several categories of Canadian institutional investors, united by a shared vision of responsible investment. Pension funds Foundations Asset managers Religious communities Launch Webinar · March 10, 2026 ## Watch the official presentation of the Mosaic Voting Guidelines Featuring guest speaker Matt Moscardi, co-founder of Free Float Analytics. Full recording and presentation deck available in our publications. MM Matt Moscardi Co-founder · Free Float Analytics [Watch](https://www.gir-canada.com/en/publications?hsLang=en) [View all publications](https://www.gir-canada.com/en/publications?hsLang=en) Next steps ## Read the guidelines, let's explore the fit Whether you want to adopt it, draw inspiration from it, or simply understand our approach — Mosaic is open. ### Download the guidelines The complete guidelines in PDF — 39 pages covering 7 governance, environmental, and social responsibility topics. [Download PDF](https://www.gir-canada.com/hubfs/Mosaic-Voting-Guidelines-2026.pdf?hsLang=en) ### Talk with us Let's discuss your voting approach and explore how Mosaic could integrate with your existing practices. [Schedule a meeting](https://meetings.hubspot.com/etienne-lamy) ![GIR logo](https://www.gir-canada.com/hubfs/GIR_logo_color%5B7765%5D.png) ### GIR — Groupe Investissement Responsable Proxy voting strategy & ESG research for institutional investors. Independent Canadian expertise, supporting your fiduciary alignment. 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