Vivek Ramaswamy, who seems to spend so much time warning the press and political audiences about “woke” investors that we wonder how much is left to actually run, much less market, his “anti-woke” fund, now has started a new business, an anti-woke proxy advisory service. We have a couple of comments. First, great! This proves…
Activist investor campaigns rise back up to pre-Covid levels
Campaigns by shareholder activists look set to rise further this year after a return to pre-pandemic levels in 2022. The conclusions come from experts following research by Lazard revealing activist action was at its highest for the past four years. Lazard documented 235 campaigns last year at companies with market caps of more than $500m,…
Europe: Say-on-climate voting is on the up, but support falls
Say-on-climate voting is on the up, but investor support falls by Gavin Hicks Support for say-on-climate proposals has dropped off year on year, though the number of votes— which are currently voluntary—has greatly increased, according to new research. There is also an emerging divide among shareholders. European fund managers appear to be increasing their dissent,…
Agenda – ISS Adds Cyber Risk to Company Scores
Business and cybersecurity experts recently told the World Economic Forum that there is a high likelihood of a destabilizing and “catastrophic” cyberattack linked to geopolitical instability within the next two years. And the largest segment (34%) of respondents to a recent Allianz survey of more than 2,000 company representatives said cyber risk was the number…
A Solution Is in Sight for the ESG Controversy – WSJ
Despite the outrageous slant of this opinion piece from “anti-woke”: Vivek Ramaswamy (somehow only the other side “claims” while anti-ESGers somehow know), he is right about one thing: transparency is always beneficial to robust market responses. He says, “Lawmakers concerned about the use of ESG in capital markets need not ban it. They can simply…
Paul Tudor Jones, hedge fund billionaire, wants to make it SEG
ESG has become one of the most polarizing topics for companies and across Wall Street. But billionaire hedge fund manager Paul Tudor Jones says that a lot of the pushback simply comes down to how it is framed by critics.“ESG is incorrectly characterized,” Tudor Jones said on “Squawk Box” on Tuesday. “Certainly, by what the…
VEA Vice Chair Nell Minow on ESG Clarity Podcast
Many thanks to Emile Hallez for his thoughtful questions when VEA Vice Chair Nell Minow appeared on the ESG Clarity podcast.
Apple CEO Tim Cook receives a 40% pay cut after shareholder vote
Apple CEO Tim Cook will receive a pay cut in 2023 to $49 million in total compensation, the company said in a filing with the SEC. Cook requested the change, Apple said in the filing, following a shareholder vote on his pay package. The company also reduced the number of restricted stock units Cook would…
Global Risks Report: World Economic Forum
Note to those who claim ESG is not based exclusively on assessments of risk and return. The World Economic Forum report on global risks makes it clear that climate change is a key factor. From the key findings: Cost of living dominates global risks in the next two years while climate action failure dominates the…
Funds Still Support Directors at Companies with Poor Climate Change Performance
A new report from Majority Action finds that even investment firms with a commitment to environmental goals do not evaluate director candidates based on meeting those goals. Key findings: 2. While some key investors voted against more directors in 2022 than in 2021, the largest investors by AUM actually increased support for directors at US- based…
ValueEdge Advisors 