Pensions
Voting Support for NYC Pension Proxy Proposals Continues to Wane
Only 21% of proposals that went to a vote were supported by shareholders, down from 35% in 2022.
Tag: proxy voting
Pensions
New York State Common Makes Climate Deals With 5 Portfolio Companies
The agreements with five portfolio companies include energy transition reporting disclosures.
Regulation
Congressman Calls for Proxy Firms to Register With SEC
Wisconsin’s Bryan Steil repeated the thesis of proposed legislation at an STA conference on Thursday: Proxy firms should register and disclose conflicts.
Research
Shareholder Proposals Increase, Yet Few Gain a Majority
Environmental and social resolutions boosted the number of filings this spring, ISS says, while anti-E&S resolutions also shot up.
Pensions
CalSTRS Punishes Directors at More Than 2,000 Firms for Weak Climate Risk Disclosure
The $315.6 billion pension giant expects portfolio companies to disclose Scope 1 and 2 emissions, at a minimum.
Regulation
House Republicans Propose 11 Bills Reforming Proxy Advisory Services
The bills would make it substantially easier for issuers to exclude proposals and harder for the SEC to compel them to include proposals on proxy statements.
Regulation
Congressional Interest in Proxy Voting Services Escalates
The House Committee on Financial Services held two hearings related to proxy voting on Thursday.
Regulation
Republican ESG Working Group Calls Out Proxy Voting
An interim report published by Republicans on the House Financial Services Committee argues that ESG lowers returns and that the proxy voting industry is unacceptably opaque.
Research
NBER Study Reviews Corporate Governance Implications of Indexing
As passive fund assets totaled $5.743 trillion in the U.S. in 2021, academic research explores how passive funds employ investment stewardship.
Research
Gender Diversity on Company Boards Improves Due to Pressure from Big Three Asset Managers
An NBER study shows the push by Vanguard, BlackRock and State Street has rippled through corporate America.
Regulation
SEC Approves New Rules for Proxy Voting
The new rule requires institutional investment managers to disclose their proxy votes on executive compensation and makes updates to Form NP-X.
Research
Public Funds Are Among Strongest Backers of ESG Resolutions
State and local pension funds favor environmental, social and governance shareholder resolutions at higher rates than do general shareholders, Morningstar research shows.
Asset Allocation
DeSantis and Allies Bar Florida SBA from ESG Investing
The governor contends that applying climate and racial sensitivity to asset allocation could harm financial performance.
Regulation
SEC Adopts Amendments to Proxy Voting Advice Rules
SEC leaders say the final amendments aim to avoid burdens on proxy voting businesses that may impair the timeliness and independence of their advice.
Alternatives
Op-Ed: The Climate Investment Dilemma—Divestment or Decarbonization?
FEG’s Tim O’Donnell explores the merits of engagement.