Voting on ESG: Ever-Widening Differences
Growing Gaps in 2023 The gap between U.S. and European managers voting on ESG grew in 2023, but there’s also greater divergence among U.S. managers. U.S. Managers’ Falling Support for Key ESG Resolutions Contrasts Sharply With Those in Europe Source: Morningstar proxy-voting database, asset managers’ stewardship disclosures, SEC filings. Data as of Jan. 2, 2024. […]
Lindsey Stewart is Director of Investment Stewardship Research at Morningstar, Inc. This post is based on his Morningstar memorandum. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here) by Lucian A. Bebchuk and Roberto Tallarita; For Whom Corporate Leaders Bargain (discussed on the Forum here) by Lucian Bebchuk, Kobi Kastiel, and Roberto Tallarita; How Twitter Pushed Stakeholders Under The Bus (discussed on the Forum here) by Lucian A. Bebchuk, Kobi Kastiel, and Anna Toniolo; and Corporate Purpose and Corporate Competition (discussed on the Forum here) by Mark J. Roe.
Growing Gaps in 2023
The gap between U.S. and European managers voting on ESG grew in 2023, but there’s also greater divergence among U.S. managers.
