Agenda

Ho-Hum Support for Climate Proposals at Early Meetings

Several climate-related shareholder proposals went to a vote last week at S&P 500 companies, and most of them failed to garner more than 15% of the vote. While it is unusual for first-time proposals to win high levels of support at annual meetings, the focus on environmental issues among investors and proxy advisors had suggested the groundswell of support seen last year could continue.

Sources urged boards to continue to monitor their peers’ disclosure practices and noted that investors are still ramping up engagement and board accountability tactics. However, last week’s numbers suggest that the socially responsible investors and others who put forward these resolutions may have more of an incremental battle ahead.

…According to public company intelligence provider MyLogIQ, as of last Wednesday, there were some 55 total environment-related proposals included in S&P 500 company proxy statements for 2022 annual meetings. As of press time, 14 had gone to a vote, 11 of them just last week. Official results were not available for most of the proposals. But based on numbers from the few 8-Ks that have been filed so far this year and the scant preliminary data furnished by companies, only one of the 14 received majority support.

admin

Recent Posts

‘Mission First:’ Military Directors More Likely to Hold CEOs Accountable

Boards have been steadily reinforcing their ranks through the addition of more directors with military…

2 months ago

Boards Consider Politically Connected Directors Under New Administration

Governance Professionals Caution Against Knee-Jerk Reactions to Shifting Political Winds Meta Platforms added Dana White,…

2 months ago

Let It Snow: CEOs with Cozy Pay and Cold Returns

Where CEO pay climbed and performance sank last year Danaher and United Parcel Service were…

3 months ago

How Boards Can Craft a Next-Level AI Strategy for 2025

As artificial intelligence grows more accessible, boards may have no choice but to embrace it…

3 months ago

Director Details: Who’s at the Table in 2024

A look at the demographics and skills of S&P 500 directors. Corporate boards have greater…

3 months ago

Long-Tenured Independent Directors Lower Litigation, Activist Risks

Companies with independent directors who've served on the board for more than 15 years are…

3 months ago