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As You Sow Breaks Record with Ten Majority Votes

US-based shareholder advocacy group As You Sow has published its 2022 proxy season engagements report, which is headlined by coordinating majority votes on ten shareholder resolutions. As You Sow conducted 196 corporate engagements with 156 companies across 11 programme areas in the proxy season. Of these, 99 escalated to formal shareholder resolutions filed on behalf of 79 shareholders; 56 resolutions were withdrawn after companies agreed to take responsive actions; and 32 went to a vote. These achieved share-value support of over US$2.18 trillion and received a median 41.4% vote, which included the ten majority votes. The majority votes ranged from 50.4% to 96.5% support, with the largest majority vote at Caterpillar, with a resolution seeking a “1.5°C aligned emissions reduction plan covering the full scope of company emissions”. Key engagement issues included climate change, diversity, equity and inclusion, racial justice, ocean plastics, single-use plastics, and recyclability. Andrew Behar, As You Sow’s CEO, said: “The extractive economy is winding down; capital is shifting. These market forces are undeniable and investors that recognize this trend and help to shape it will ensure a stronger, more dynamic economy into the future while building a safe, just, and sustainable world for all stakeholders.” 

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