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Vanguard Developed Markets Index Fund proxy voting record
Vanguard Tax-Managed Funds files this fund's proxy votes with the SEC once a year. This is what it did with the shares your retirement savings paid for.
SourceProxy-voting record filed by Vanguard Tax-Managed Funds on 2025-08-27 · open the filing · vote table (ProxyVotingTable.xml, 40 MB)
How it voted, by issue
Proposals are grouped by the subject the filer itself recorded. On management's own executive pay resolutions, this fund voted in favour 83.9% of the time across 1,433 votes.
| Issue | Proposals faced | Backed | Share backed |
|---|---|---|---|
| Climate & environment | 94 | 0 | 0% |
| Workers & human rights | 9 | 0 | 0% |
| Pay equity & inclusion | 5 | 0 | 0% |
| Executive pay | 54 | 0 | 0% |
| Corporate governance | 386 | 99 | 25.6% |
| Other social issues | 19 | 0 | 0% |
Ballots it voted
Mitsubishi UFJ Financial Group, Inc. · 27 June 2025 · put on the ballot by shareholder · Climate & environment
Should Mitsubishi UFJ Financial Group disclose what it finances, not just what it emits?
Shareholders asked the company to disclose the emissions attached to its lending, underwriting or energy mix — the ratio of clean to fossil financing, or an assessment of its clients’ own transition plans — rather than reporting only the emissions of its own offices.
AGAINST Vanguard Developed Markets Index Fund voted with 98,165,378 shares
“Amend Articles to Add Provision on Assessment of Clients' Climate Change Transition Plans”

The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Tax-Managed Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083688 · series S000004386 · open the filing
Shell Plc · 20 May 2025 · put on the ballot by shareholder · Climate & environment
Should Shell disclose what it finances, not just what it emits?
Shareholders asked the company to disclose the emissions attached to its lending, underwriting or energy mix — the ratio of clean to fossil financing, or an assessment of its clients’ own transition plans — rather than reporting only the emissions of its own offices.
AGAINST Vanguard Developed Markets Index Fund voted with 53,974,699 shares
“Request Company Disclose Whether and How Its: Demand Forecast For LNG; LNG Production And Sales Targets; And New Capital Expenditure In Natural Gas Assets; Are Consistent With Climate Commitments, Including Target To Reach Net Zero Emissions By 2025”

The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Tax-Managed Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083688 · series S000004386 · open the filing
The Toronto-Dominion Bank · 10 April 2025 · put on the ballot by shareholder · Workforce & human rights
Should Toronto-Dominion Bank report on forced and child labour in what it lends to and finances?
Shareholders asked the bank to report on how it identifies and addresses forced labour and child labour risk in its lending and financing portfolios — not only in its own operations, but in the businesses its capital supports.
AGAINST Vanguard Developed Markets Index Fund voted with 15,351,771 shares
“SP 2: Report on Forced Labor and Child Labor in Lending Portfolios”

The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Tax-Managed Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083688 · series S000004386 · open the filing
Royal Bank of Canada · 10 April 2025 · put on the ballot by shareholder · Workforce & human rights
Should Royal Bank of Canada report on forced and child labour in what it lends to and finances?
Shareholders asked the bank to report on how it identifies and addresses forced labour and child labour risk in its lending and financing portfolios — not only in its own operations, but in the businesses its capital supports.
AGAINST Vanguard Developed Markets Index Fund voted with 12,261,660 shares
“SP 2: Report on Forced Labor and Child Labor in Lending Portfolios”

The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Tax-Managed Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083688 · series S000004386 · open the filing
The Bank of Nova Scotia · 8 April 2025 · put on the ballot by shareholder · Pay equity & inclusion
Should an independent auditor examine how Bank of Nova Scotia affects civil rights?
Shareholders asked the board to commission an independent, third-party audit of the company’s impact on civil rights and racial equity — its workforce, its customers and the communities it operates in — and to publish what the auditor finds.
AGAINST Vanguard Developed Markets Index Fund voted with 10,635,816 shares
“SP 1: Publish a Third-Party Racial Equity Audit”

The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Tax-Managed Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083688 · series S000004386 · open the filing
The Kansai Electric Power Co., Inc. · 26 June 2025 · put on the ballot by shareholder · Pay equity & inclusion
Should Kansai Electric Power disclose, or change, who sits on its board?
Shareholders asked the company to publish a board skills-and-diversity matrix, or to commit to a minimum representation of women among its directors.
AGAINST Vanguard Developed Markets Index Fund voted with 8,327,699 shares
“Amend Articles to Add Provisions Concerning Management Based on CSR (Gender Diversity)”

The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Tax-Managed Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083688 · series S000004386 · open the filing
Nippon Telegraph & Telephone Corp. · 19 June 2025 · put on the ballot by shareholder · Executive pay
Approve Stock Option Plan
AGAINST Vanguard Developed Markets Index Fund voted with 243,908,375 shares
“Approve Stock Option Plan”

The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Tax-Managed Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083688 · series S000004386 · open the filing
Telefonaktiebolaget LM Ericsson · 25 March 2025 · put on the ballot by shareholder · Executive pay
Approve Policy Ensuring that Executive Bonuses are Disbursed Only After All Employees Have Received Cost-of-living and Performance-based Salary Increases Each Year
AGAINST Vanguard Developed Markets Index Fund voted with 24,150,655 shares
“Approve Policy Ensuring that Executive Bonuses are Disbursed Only After All Employees Have Received Cost-of-living and Performance-based Salary Increases Each Year”

The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Tax-Managed Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083688 · series S000004386 · open the filing
Retirement plans that offer it
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