Proxy Voting 2021: Report from Sidley, Insightia, Okapi

We highly recommend the new report from Sidley, Insightia, and Okapi on proxy votes in 2021. Some highlights: The 2021 proxy season was revolutionary in many respects, as investors used their voting powers to communicate their expectations to issuers on a variety of concerns. Investors exhibited renewed interest in a myriad of ESG issues, including…

SEC Wants Better Disclosure of Proxy Votes from Fund Managers

The Wall Street Journal writes: The Securities and Exchange Commission proposed a rule that would require money managers to disclose more information on how they use their voting power. When investors buy a mutual fund and exchange-traded fund from an asset manager, the money manager votes on shareholder proposals on behalf of the investors. Shareholder…

Proxy Insight: Proxy Votes in 2021

Proxy Insight has published their report on proxy voting in 2021. The most significant findings: The five largest institutional investors increased their support of environmental shareholder proposals by an average 13 percentage points between the 2020 and 2021 proxy seasons, compared with four percentage points for all investors.The top five backed 100% of climate transition…

NEW Anti-ESG Vote Fund — 2ndVote Advisors

A new group called 2ndVote Advisors is advertising on FOX that it can protect investors from politically-motivated proxy votes. Once again, however, they fail to come up with a single example, because there are none. Their materials claim to support: “the commonsense notion that companies focused on profits will produce better returns for their investors…

New blood at Wall Street’s old guard rattles Corporate America

This year marks a sea change as top funds throw more of their weight behind investor challenges to companies on environmental, social and governance (ESG) issues and put companies on notice by often choosing to publicize how and why they voted, a Reuters review of voting results and fund firms’ new disclosures shows. A record…

A Glimpse of a Future With True Shareholder Democracy – The New York Times

[L]ack of proxy voting capability leaves vast numbers of investors out of the equation, and gives corporations inordinate power. Consider that roughly half of all American households, comprising tens of millions of people, have a stake in the stock market. But most own equities indirectly through funds — mainly index funds. That leaves fund managers…

Agenda – BlackRock Backs Climate Resolutions While Critics Question Impact

“Supporting shareholder proposals now plays an increasingly important role in our stewardship efforts, particularly around sustainability. We will support a shareholder proposal when we agree with its intent to address a material business risk and believe that management can do better in managing and disclosing that risk. We may also support a proposal if management…