According to Orrick’s analysis of ESG-related shareholder proposals voted at Fortune 250 companies during the first half of 2022 (H1 2022), of the 221 proposals voted, 21 garnered majority support (listed in the memo by company, proposal type, and support level); however, three of the 21 were supported by the company’s board and one lacked a board recommendation.
ESG-focused investing funds and shareholder advocacy groups, including As You Sow and Arjuna Capital, submitted more than half (51%) of the ESG-related shareholder proposals to Fortune 250 companies during H1 2022, compared to 33% for all of 2021.
Compared to 2021, the shareholder proposal topics that increased in prevalence the most consisted of employment rights (333%), privacy and information (250%), general environmental (180%), human rights (138%), and climate change (117%).
The overall level of shareholder support for ESG-related proposals declined from a 17% majority-approved rate in all of 2021 to 9.5% for H1 2022.
Access additional resources on our Proxy & Annual Reporting Season 2022 page.
This post first appeared in the weekly Society Alert!