Shareholder Rallying Behind ESG Proposals Sparks Year-on-Year
Shareholder support for ESG-related proposals has grown by 14 percent year on year, with 2022 recording a total of 79 shareholder proposals filed globally, compared with 69 proposals the previous year, according to the latest survey from SquareWell Partners. 10 January 2023
Hemma Visavadia of IR Magazine covers SquareWell’s latest study on Say on Climate and shareholder proposals filed related to climate change. The number of management-sponsored say-on-climate proposals (“SoC”) more than doubled in 2022 compared with 2021 where there were 78 percent of first-time proposals. These were predominately filed at French companies in the real estate sector and UK companies in the financial sector.
But, as highlighted in SquareWell’s study, essential components are still missing in half of the climate transition action plans that came to a vote in 2022. Carmen Ng noted that “Weaknesses of climate action plans tend to surround the lack of short-term emissions reduction targets, setting science-based targets and communicating a Paris-aligned lobbying policy”.
The full article can be accessed here.
