A Sustainable Investment in Journalism

A sustainable business requires diverse revenue streams. ESG Investor now operates a subscription service as of Tuesday 14th May. To find out more please get in touch with our subscription team on subscriptions@esginvestor.net

As You Sow Logs 2023 Proxy Progress

US shareholder activist group As You Sow conducted 210 engagements with 169 companies on ESG-related themes during this year’s proxy season, with 51 subsequent resolutions withdrawn following an agreement with the company. As You Sow’s ‘2023 Shareholder Impact Review’ report noted that its engagements targeted 11 core areas, including climate change and racial justice. Forty-eight of these resolutions went to vote, achieving an average support of 23%. Further, 96% of resolutions that went to vote reached the threshold for resubmission with close to a 30% average vote, the report said. Companies challenged eight of the total 111 resolutions filed by As You Sow at the US Securities and Exchange Commission, the report said, adding that only two were omitted from the ballot. Notable resolution outcomes include 32.3% of Amazon shareholders voting in favour of a proposal calling for the company to produce a report on reducing use of plastic packaging, as well as 28.5% of shareholders in Bank of America voting in favour of the bank publishing a climate transition plan outlining how it will align financing activities with its 2030 greenhouse gas (GHG) emissions reduction targets. Andrew Behar, As You Sow’s CEO, said: “Overall, more companies are quietly taking action to reduce material risk on ESG issues. Despite some companies being cautious about taking a victory lap, we saw more action and deeper impact than ever before, even with an orchestrated attempt to make sound business practices into a political buzzword and drag companies and investors into a culture war. Shareholders persevered.” 

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top