Blogs

Courtesy of Proxy Analytics, the table below summarizes proposals voted and the voting outcome of ESG-related shareholder proposals season-to-date. “New” proposals are those voted the week of April 30.

Compared to the 2022 proxy season, by proposal category, average support has declined season-over-season as follows (with the second percentage figure for each proposal category reflecting the percentage decline excluding proposals with a favorable or no management recommendation and anti-ESG proposals, which reportedly tend to skew the results: Governance (5.2% | 4.5%); Diversity & Human Capital (9% | 11.5%); Environmental & Natural Capital (14% | 11.8%); and Human Rights-related (13% | 5.4%).

Based on its review of 343 Russell 3000 proxy filings thus far this proxy season, Semler Brossy reported these and other noteworthy voting results:

• Median shareholder support for social proposals (33 proposals) and environmental proposals (18 proposals) voted so far this season is 17% and 26%, respectively, reflecting a decline in support compared to last (full) season’s 22% (187 proposals) and 27% (65 proposals), respectively.

• Average support for directors thus far in 2023 is .80% higher than 2022, at 95.3%.

Access additional resources on our Say-on-Pay and Proxy & Annual Reporting Season 2023 pages.

                                    This post first appeared in the weekly Society Alert!