3) Active Ownership: engagement and voting activities We actively engage with companies to foster their efforts in aligning with a below 2 C world in pillar 3. We see engagement as a dialogue between investors and companies with the dual objective of impacting how companies operate and enhancing shareholder returns. Overall, around 36.8% of our direct company dialogues related partially or solely to climate change topics in 2019. In addition, Bank J. Safra Sarasin contributes to different collaborative engagement initiatives. For example, the Bank continued to par- ticipate in the Investor Decarbonisation Initiative led by ShareAction. Our full Active Ownership strategy is described below and is also outlined in our publicly available Active Ownership Policy and Active Ownership reports.