Anti-ESG Shareholder Proposal at Microsoft

Prepare for even more Trojan horse shareholder proposals from “anti-woke” sources. Microsoft, like other household name companies, attracts a lot of shareholder proposals, and this year’s include inclusive hiring of formerly incarcerated candidates, and reports “assessing how the Company’s 401(k) retirement funds manage the growing systemic risk to the economy created by investing retirement plan…

ISS: Support for U.S. Shareholder Proposals on Climate in 2022

Without data on how many proposals were withdrawn following successful negotiations, it is hard to evaluate these conclusions. Despite a steady decrease  in the portion of environmental and social proposals receiving less than majority support from 2017 through 2021, 2022 bucked the trend likely due to  some institutional investors viewing them as overly prescriptive as…

Environmental groups ask P&G investors to vote against CEO as board chair

Universal proxy will put more pressure on corporate insiders to engage on these proposals. [E]nvironmentalists have been prodding P&G to make changes on forestry for several years.”These proposals are more powerful because they get more support,” said Nell Minow, vice chair of corporate governance consultancy ValueEdge Advisors, adding that recent regulatory changes make it easier…

Crocodile Tears from NLPC About Correctly Being Called Anti-ESG

Morningstar’s assessment of the anti-ESG shareholder proposals filed by the National Legal and Policy Center has produced a whiny non-rebuttal, by the non-profit described by SourceWatch as “a front group and industry funded right-wing political and policy lobbying organization. NLPC was founded in 1991 by Peter Flaherty and Ken Boehm, who previously worked for ‘Citizens for Reagan.’” SourceWatch notes…

Comment from Shareholder Rights Group on the SEC Shareholder Proposal Rule

Each of the proposed technical fixes to the rule are supportive of the interests of investors and issuers in having clarity and predictability about the rules, and would ease proponent concerns about whether limited company actions on the subject matter of a proposal, or the filing of a prior proposal with very different means or…

Agenda – What ESG Backlash? Proposal Deluge to Continue

“Deluge” is a pretty strong word for only 26 proposals that receive majority vote, but other than that hyperbole, Agenda’s. assessment is valuable. Though average support for E+S proposals declined somewhat year over year (from 30% in 2021 to 26% in 2022), because of the higher-than-normal submission rate, the number that passed this year, 26,…

Biden’s SEC Removes Trump Era Restrictions on Shareholder Proposals

Keep in mind, as always, that shareholder proposals are advisory only, so even a 100 percent vote in favor can be ignored by the corporation. But it is good to see the SEC reversing the Trump-era restrictions that allowed bogus “proposals” to block legitimate ones, Biden’s SEC has been pushing to expand the ability of…

Can Facebook’s Board Be Honest With Its Shareholders?

From Jason Kint, is the CEO of Digital Content Next, a trade association representing publishers and Kathleen Day, an author and a former Washington Post business reporter who is a now full-time lecturer at Johns Hopkins University’s Carey Business School. Mark Zuckerberg and his fellow board members at Facebook—now calling itself Meta Platforms, Inc.– aren’t doing their job…

Shareholder Proposal at Home Depot on Political Spending Contrary to Stated Policies

A Home Depot shareholder proposal has been submitted to the SEC requesting that the company publishes a report, at least annually, “analyzing the congruence of political and electioneering expenditures during the preceding year against publicly stated company values and policies.” A proxy memo in support of the proposal from Tara Health Foundation cites data from…

AT&T Shareholder Resolution Calls Out PAC Spending ‘Incongruent’ With Stated Values Following Mass Donations to Anti-Democratic Lawmakers – Accountable.US

An AT&T Inc. shareholder resolution has been recently submitted criticizing the company’s “politically focused expenditures” that “appear to be misaligned with its public statements on Company values, views, and operational practices.” The resolution – which the AT&T Board of Directors “unanimously recommends” shareholders vote against during a May 19th shareholder meeting – cites research from…