Mixed support for ESG shareholder proposals this season
July 31, 2024 •
Here’s an excerpt from this “ESG News” article:
In 2024, shareholder proposals on ESG and anti-ESG issues soared to record numbers, reaching 998 among Russell 3000 companies, surpassing 2023’s total of 947. Despite the increase, support remains inconsistent, reflecting the complex landscape CEOs and boards must navigate.
Governance consulting firm Georgeson’s Early Proxy Season Review reveals contrasting trends. ESG proposals rose by 18% compared to 2023, while anti-ESG proposals saw a 19% increase from 2023 and a staggering 90% from 2022. However, average support for anti-ESG proposals has dwindled to 2.8%, indicating limited shareholder endorsement.
Mixed Support for ESG
Support for ESG proposals shows a nuanced picture:
- Governance-related ESG proposals: Increased by 18% with rising support.
- Environmental and social proposals: Declined by 6% and 5%, respectively, since 2023.