Burgundy Asset Management | 2022 ESG Report

Calendar Year 2021

Burgundy at a Glance

Rigorous & Fundamental
Global Research

1000

The number of company meetings across the globe

1/3

How often we met with regional portfolio companies during management meetings

78%

The percent of meetings with senior management

The number of expert networks we worked with

500

The number of one-on-one calls we conducted

1000

The number of expert call transcripts we reviewed

Calendar Year 2021

ESG Efforts

260

The number of ESG engagements with portfolio companies*

70%

The percent of total ESG engagements conducted by meeting/call

1/4

How often we raised an ESG issue during a management meeting**

430

The number of meetings we voted

The number of environmental ("E") and social ("S") shareholder proposals

38%

How often we supported E&S shareholder proposals, up from 18% in 2018

Engagement by Region

Meetings Voted by Region

Canada

U.S.

Europe

Asia

Emerging Markets

Source: Burgundy research
*Includes ESG engagement via meeting, call, letter, email, and proxy vote.
**In 2021, Burgundy conducted over 1,000 company meetings. Approximately 630 were considered one-on-one while the others were in a group setting. One-on-one meetings are conducted by a Burgundy Portfolio Manager and/or Investment Analyst with the management team or investor relations of the company. An “ESG issue” is either an environmental, social, and/or governance (ESG) factor as defined by Burgundy’s approach to ESG.

esg integration

Message from our CIO

Focused on Integration
and Engagement

Anne Mette de Place Filippini

Senior Vice President,
Chief Investment Officer,
Portfolio Manager

Key points from the past year

Given the lack of standardization, investors today are facing a complex ESG landscape.
We are focused on three primary areas: engagement, expert opinions, and proxy voting.
ESG engagement is integrated alongside our overall investment approach as opposed to being an ESG initiative in and of itself.
It is our responsibility to incorporate ESG to preserve and grow your capital.

key points from our

Carbon Research

Where material reporting is available, greenhouse gas emissions for Burgundy's major regional investment strategies is "low" relative to respective market indices.
Over the past year, we have learned about the regulated carbon markets from portfolio company Intercontinental Exchange Group and gained knowledge on the voluntary carbon markets through an industry expert.
Burgundy’s focus on wealth-creating businesses aligns with relatively low carbon intensity.
Our Portfolio Managers tend to find companies that are modest carbon emitters in the perpetual pursuit of quality companies.