The joint effort from As You Sow, Sustainable Investments Institute and Proxy Impact found that of 435 shareholder resolutions already filed, about 300 are headed for votes at spring corporate annual meetings. Read More →
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"It's wonderful to see corporate commitments to racial justice and fair workplaces," said As You Sow's workplace equity initiative manager Meredith Benton, a principal with Whistle Stop Capital, who consults with asset owners and advisers to increase ESG investments. "Companies have done a lot of telling and very little showing of how they treat their employees," Ms. Benton said in the release. Read More →
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"We are learning things from COVID that are going to be applied to all of business," said Andrew Behar, CEO of As You Sow, a non-profit organization promoting environmental and social corporate responsibility through shareholder advocacy and coalitions. He predicts a shift toward more fact-based business decisions, whether they're addressing greenhouse gas emissions or income inequality. Read More →
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According to preliminary results, 46% of investors voted to support a shareholder resolution at Chevron and 25% voted to support a similar one at Exxon. Filed by shareholder advocacy group As You Sow, the resolutions call for Exxon and Chevron to report on the public health risks of expanding their petrochemical operations in areas increasingly prone to climate change-induced storms, flooding, and sea level rise. The same proposal received a majority 54.7% vote at Phillips 66 earlier this month. Read More →
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Danielle Fugere, president and chief counsel of coalition member group As You Sow, said in a separate statement about the decision that Barclays' decision "is critically important to helping ensure the world meets its climate goal," and that it also "highlights the gap of inaction by U.S. banks, who will continue to see pressure from shareholder resolutions, including an upcoming one with J.P. Morgan Chase." Read More →
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A document on the agency website noted briefly that SEC staff agreed March 20 with requests by company officials to exclude proposals from a group of shareholders, including the Church of England and As You Sow, asking if the companies will join other oil and gas companies in taking steps to align with the Paris Agreement goal of net-zero emissions by 2050, and calling for reduction targets, long-term business plans and other details. Read More →
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Referring to a recent policy change by the Business Roundtable to endorse stakeholder capitalism, driven in part by shareholder advocacy, As You Sow CEO Andrew Behar said in the same statement that the 2020 proxy season "will test if investors and companies will help define a new economic paradigm or if these endorsements are just empty words." Read More →
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The proposal won 44.5% of shareholder votes, but when the company did not fully respond, it was refiled in September for 2020. That led to a more productive dialogue with the company and the withdrawal of the shareholder proposal, As You Sow Senior Vice President Conrad MacKerron said in an interview. Read More →
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More pension funds and other large shareholders are voting against CEO pay packages considered excessive, but it will take more involvement to fix the problem, according to a report released Thursday by As You Sow, a non-profit shareholder advocacy organization in Oakland, Calif.
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