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…
Tag: shareholder proposals
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…
Caterpillar Endorses As You Sow Climate Proposal
Caterpillar has recommended a vote in favor of the shareholder proposal on climate disclosures submitted by As You Sow. Resolved: Shareholders request that Caterpillar issue a report within a year, and annually thereafter, at reasonable expense and excluding confidential information, disclosing interim and long term greenhouse gas targets aligned with the Paris Agreement’s goal of maintaining…
Record-breaking proxy season for ESG proposals, report says | Corporate Secretary
The 2022 proxy season is a record breaker for ESG proposals, with Michael Passoff, CEO of Proxy Impact and co-author of a new report, saying ‘you can feel the momentum building for real corporate change.’ Commenting on the 529 ESG proposals that have been filed this year, Passoff says there is ‘unprecedented support for environmental…
Thanks to ExxonMobil for Opposing Anti-Shareholder Proposal from Oil Industry Shill Steven Milloy
Unsurprisingly, even with the insurgent candidates added to its board last year, ExxonMobil recommends votes against all of the shareholder proposals on its proxy this year, including proposals on plastic production, scenario analysis, low carbon production, political spending, and executive perquisites. We recommend votes in favor of all of these proposals. But we have to…
Say on Climate: Investor Distraction or Climate Action? – MSCI
Investor engagement on climate change increased markedly in 2021. One key development was the emergence of say-on-climate votes: management-backed resolutions that ask shareholders to approve a company’s climate plan or climate-action report proactively, either on a one-time or recurring basis. In most cases, say-on-climate votes are nonbinding and advisory; even if a vote fails, the…
ValueEdge Advisors 