Shareholder support for proxy resolutions on topics including climate change and workforce diversity dropped significantly this spring, analysts said, as tough proposals from activists met with growing political pressure on fund firms' voting.
"Their attorneys and compliance people would be saying, 'let's be a little more cautious this year'," Behar said.State Street Global Advisors' global head of asset stewardship Benjamin Colton said via email that while companies have become more transparent, there have been more of what he called "overly prescriptive proposals."
"These dynamics have led to an overall decline in investor support for environment and social shareholder proposals," Colton said.Both have previously said they vote on a case-by-case basis and noted an increasing number of proposals affect support rates. Average support for resolutions filed by investors opposed to ESG fell to 6% from 9%, such as one from the free-market National Center for Public Policy Research calling for IBMScott Shepard, a director at National Center, said its resolutions still help demonstrate what he called the "partisanship" of top asset managers. Many now realize they need to take into account risks like pushing for decarbonization before new technologies are ready, he added.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Cold Call: The Opioid Crisis, CEO Pay, and Shareholder Activism on Apple Podcasts🎧 How does this one company hold itself accountable for its role in the opioid crisis?
Baca lebih lajut »
ConsenSys Faces Shareholder Vote Over Controversial Transfer of Company AssetsEx-ConsenSys staffer: “[What] keeps me going is that, at the core.. this is the blockchain story. If this were a DAO or something on-chain, this kind of shadow accounting, the legal arbitrage that companies always do to people, would not have happened.”
Baca lebih lajut »
Majority of PREIT board offers resignations after shareholder voteThe latest sign of trouble at the huge Philadelphia-area mall owner could be a sign of a sale to come.
Baca lebih lajut »
IGT stock set to gain after gamer explores alternatives for Global Gaming, PlayDigital businesses to boost shareholder valueShares of International Game Technology PLC were indicated up more than 1% in premarket trading Thursday, after the gaming company said it is evaluating...
Baca lebih lajut »
Nikola adjourns meeting to garner more support for share proposalNikola adjourned its shareholder meeting on Wednesday after failing to garner enough support for a proposal to increase the number of shares the electric truck maker is allowed to issue, delaying its prospects of raising much-needed capital.
Baca lebih lajut »
Former Amazon Exec Jeff Blackburn Elected to Roku Board of DirectorsRoku expanded its board with the election of Jeff Blackburn, formerly Amazon’s top digital media and entertainment executive, at the company’s annual shareholder meeting Thursday. Blackburn s…
Baca lebih lajut »