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Shareholder Proposals

All articles tagged with #shareholder proposals

finance2 years ago•4 min saved

The Evolution of ESG: Shifting Metrics and Changing Discourse

BlackRock, one of the biggest advocates of the ESG (Environmental, Social, and Governance) investing technique, has scaled back its support for environmental and social shareholder demands, stating that many proposals were overreaching or lacking economic merit. The ESG movement, once seen as a way for corporations to enact positive change, has been criticized for being co-opted by activist groups pushing a political agenda. Red state officials rebelled against ESG, leading to canceled contracts and boycotts. BlackRock's decision is significant as it is the largest money manager in the world, managing $9 trillion in assets. While ESG remains popular in Europe, it is increasingly seen as window dressing in the US.

via New York Post |

#activism #blackrock #corporate-america

business2 years ago•4 min saved

Investors retreat from ESG initiatives under US political pressure.

Investors' support for environmental and social activism has declined at US companies' annual meetings due to increasingly prescriptive proposals and mounting political pressures. Petitions asking for more action on climate change won an average of 23% shareholder support, down from 36.6% last year. Shareholder proposals on human rights took 21.6% of votes cast, compared with almost a third in 2022. Only five US shareholder resolutions on environmental and social issues have won majority support of company shareholders this year, down from more than 35 in 2022 and 2021.

via Financial Times|

#business #corporate-governance #environmental-activism

finance2 years ago•1 min saved

"WSJ Releases ESG Proxy Vote Ranking"

A new analysis by the Committee to Unleash Prosperity reveals that many asset managers proxy vote in favor of woke shareholder proposals to do racial audits or strangle fossil fuels, even in non-ESG investment vehicles. The report examined 4,814 non-ESG branded funds to see how proxy votes were cast on 50 of the most extreme ESG-oriented shareholder proposals from 2022. The problem is having a hidden agenda that applies to everybody else, and it is important to ensure that asset managers are voting based on the interests of investors rather than political agendas.

via The Wall Street Journal|

#asset-management #esg #finance

finance2 years ago•4 min saved

Warren Buffett's Annual Shareholder Meeting Approaches Amid Economic Turmoil.

Warren Buffett is set to preside over Berkshire Hathaway's annual meeting for the 59th time on Saturday as investors make their pilgrimage to hear the investing legend, at a time of turmoil for the banking industry and as trouble looms for the economy. While Berkshire has a succession plan in place, with Vice Chairman Greg Abel slated to succeed Buffett as CEO, investors know that their time to see and hear Buffett and longtime Vice Chairman Charlie Munger is limited. At the meeting, shareholders are due to present six proposals for Berkshire to address including on climate change, diversity and political advocacy, and a renewed call for Berkshire to install someone other than Buffett as chairman.

via Yahoo Finance|

#annual-meeting #berkshire-hathaway #finance