"We will now vote against board members if a company has experienced material failures in the oversight, management or disclosure of climate risk," the fund said in its annual report on responsible investments, published on Thursday.
The fund has long engaged on climate change with the companies it invests in.
In 2022, the fund discussed climate change at 810 meetings it held with companies that represent 33% of the value of the fund's equity portfolio.
One of them was oil major Shell (SHEL.L), with whom the fund discussed the company's energy transition plan and climate change, it said.
Climate change was the second-most important issue discussed by the fund with companies after "human capital management", or how companies invests in their workers.