Courtesy of Proxy Analytics, the tables below summarize shareholder proposal activity for the 2024 proxy season to date as of May 31, 2024. For purposes of this analysis, each proxy season runs from July 1 – June 30. Note that approximately 90% of shareholder meetings are held during the first six months of the calendar year.
The average support for shareholder proposals overall is down by approximately 1% season-over-season at 24%. Average support for environmental and social proposals specifically is down about 3% (averaging 17% support overall), or 2% when taking into account anti-ESG proposals (21% support overall), while support for governance proposals is up by 10% season-over-season. The following table shows support for environmental and social proposals by subcategory both including and excluding (“adjusted”) the impact of anti-ESG proposals.
Season to date, three environmental and social proposals have garnered majority support – two submitted by The Accountability Board regarding the reduction of greenhouse gas (GHG) emissions and one proposal submitted by John Chevedden seeking enhanced political contribution disclosure.
The following table summarizes shareholder proposal activity for meetings between May 19 and May 31 (576 meetings) (“New”) and 2024 season-to-date:
In-house members may contact Randi Morrison for more detailed information.
This post first appeared in the weekly Society Alert!