The Expansion of ESG Beyond Proxy Voting
In the complex world of proxy voting, a little background context goes a long way. The Wall Street Journal’s Editorial Board recently cited a one-year decline in voting support for ESG-related shareholder proposals as evidence that asset managers are “backtracking” from environmental and social issues and showing “growing reluctance to follow the direction of the proxy-adviser [sic] […]
Posted by Dimitri Zagoroff, Glass, Lewis & Co., on Tuesday, June 18, 2024
Editor's Note:
Dimitri Zagoroff is Senior Editor at Glass, Lewis & Co. This post is based on a Glass Lewis memorandum by Mr. Zagoroff, Courteney Keatinge, and Eric Shostal.
In the complex world of proxy voting, a little background context goes a long way. The Wall Street Journal’s Editorial Board recently cited a one-year decline in voting support for ESG-related shareholder proposals as evidence that asset managers are “backtracking” from environmental and social issues and showing “growing reluctance to follow the direction of the proxy-adviser [sic] duopoly.”
This narrative rests on a series of misconceptions.
