Glass Lewis reported the following key takeaways from its recent report on investors’ evolving approaches to shareholder proposals on climate change, reporting, and emissions.
- In the 2025 proxy season (January 1 – June 30, 2025), climate-related proposals made up more than 75% of all environmental shareholder proposals; however, no climate-related proposals – or environmental proposals more broadly – received majority shareholder approval.
- Despite a reduced number of climate-related shareholder proposals voted, the 2025 proxy season experienced a slight increase in the number of climate reporting proposals, from 22 in 2024 to 24 in 2025; however, average shareholder support has continued to decline – from a 5-year peak of 37% in 2022 to 9% in 2025.
- Average support for proposals on emissions reductions targets dropped by more than half season-over-season to 12% in 2025, and, unlike prior years, no such proposals received majority shareholder support.
- Whereas average support for all shareholder proposals in 2025 remained on par with 2023 and 2024 at 23%, support for all climate-related proposals declined by half season-over-season (from 22% in 2024 to 11% in 2025) and from 24% in 2023.
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This post first appeared in the weekly Society Alert!