Over the past few years, we’ve been covering the proxy voting season, examining issues like the investor pushback on banks funding fossil fuels, the dual share class structure drowning out the voice of investors, questioning who has the power in the proxy-voting process, or even examining how asset managers speak versus how they vote on environmental, social, and governance (ESG) issues.
The shareholder proposals and underlying issues we’ve covered have mostly highlight the advocacy efforts of sustainability-minded investors. Recently, though, we’ve seen an increase in what we’ve been calling "anti-ESG" proposals. These are disingenuously submitted proposals, usually by groups opposing the work of ‘pro-ESG’ investors.
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