ESG Newsletters & Alerts

Proxy Voting Weekly Digest - Week Ended May 3, 2024

May 15, 2024

Environmental and social (E&S) shareholder proposals are receiving, yet again, declining levels of support this proxy season. As of May 3, in the Russell 3000, such proposals received 16% average support (compared to 21% during the same period in 2023, 26% in 2022, 32% in 2021, and 25% in 2020) – and only one proposal has passed (a climate-related proposal at Jack in the Box (55%)).

Despite declining support for E&S proposals overall, those targeting companies’ political activities (contributions and lobbying) are still doing rather well. Such proposals received 27% average support (compared to 29% during the same period in 2023, 30% in 2022, 39% in 2021, and 33% in 2020), with three proposals coming close to passing (Crown Holdings, Inc. (CCK) – 48%; Spirit AeroSystems Holdings, Inc. (SPR) – 45%; and Truist Financial Corporation (TFC) – 40%).