Rosanna Weaver at As You Sow writes about the shareholder proposal section of last week’s SEC Proxy Roundtable. An excerpt:
Looking back over time, the shareholder resolution system works. So why these discussions again? In great part, it is because the system has been effective in raising social and environmental issues to the fore and recognizing that they are, indeed, material issues for companies. In the end, there are many voices that would like to reduce attention to these fundamentally important issues and suppress innovative shareholder ideas, even where they have been shown to reduce corporate and shareholder risk over the long term. Some things have not changed, including short-term thinking in and around Wall Street.