For those companies in receipt of a say on climate shareholder proposal or contemplating a management proposal, McMillan’s “’Say On Climate’ — Key Considerations In Implementing Shareholder Votes On Climate” suggests a number of potential implications of doing so that boards and management should consider in advance, including whether implementing a proposal or resolution may in any way limit the board’s decision-making flexibility, impose potentially undesirable obligations, or signal a greater willingness to accept advisory proposals generally.
See our recent reports: “Vanguard Speaks! Say-on-Climate Proposals,” “Proxy Advisors Weigh in on Say-on-Climate Proposals,” and “Say-on-Climate Developments,” and additional resources on our Shareholder Proposals and Climate Disclosure & Risk pages. This post first appeared in the weekly Society Alert!