Institutional Investors Are Getting Tougher on Say on Climate

Institutional investors are less and less inclined to support resolutions filed by companies, finds SquareWell. 20 January 2023 Institutional Investors Are Getting Tougher on Say on Climate

Bruno de Roulhac of L’Agefi writes an extensive piece on Say on Climate, which references data from SquareWell’s latest insight on Climate Change.

As opined on by Bruno de Roulhac, climate change should continue to agitate the next season of general meetings. The strong increase in proposals submitted by both companies and shareholders could be witnessed this year. The number of Say on Climate (SoC) proposals filed by companies more than doubled between 2021 and 2022 to 46 resolutions, according to SquareWell. For more than three quarters of companies, it was a first! Particularly in France, mainly in the real estate sector, and in the United Kingdom, mainly among financials.

“This movement among the French real estate midcaps (Carmila, Icade, Mercialys and Nexity) is undoubtedly explained by a ripple effect and under the incentive of investors. However, it remains unique in the world”, specifies Louis Barbier, SquareWell partner. Companies that are supporters of climate resolutions are mainly utilities, financiers, manufacturers and energy companies. Last year, the United Kingdom was the most active, with 15 resolutions presented (compared to 8 in 2021), ahead of France and its 12 resolutions (3 in 2021), and … none in Germany for example.

The full article can be accessed here.


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