By Ross Kerber
(Reuters) – U.S. companies face an unprecedented wave of shareholder resolutions centered on ESG themes for 2022, a brand new evaluation exhibits, as activists look to construct on favorable regulatory modifications and extra executives appear keen to make offers.
Shareholders have filed a document 529 resolutions associated to environmental, social and governance (ESG) points for the annual conferences of publicly traded U.S. firms thus far this 12 months, up 22% from the identical level in 2021, based on a examine launched Thursday by activist group As You Sow and researchers together with the Sustainable Investments Institute.
Many search particulars on carbon emissions or workforce range. Successes activists scored final 12 months comparable to altering administrators at Exxon Mobil Corp (NYSE:) may make administrators have a look at proposed modifications extra favorably, stated sponsors of the evaluation.
“Corporations are realizing that their buyers need them to have much less threat,” stated Andrew Behar, CEO of As You Sow. He and others stated shareholders could profit from new steerage from the U.S. Securities and Change Fee which makes it more durable for firms to skip votes.
Wins for activists thus far this 12 months embody a March 4 vote on the annual assembly of quick meals firm Jack within the Field Inc, the place 95% of votes forged had been in favor of a decision coping with sustainable packaging sponsored by Inexperienced Century Capital Administration.
Jack within the Field had really useful buyers vote towards the measure. A Jack within the Field consultant didn’t instantly remark.
In one other case, activist Boston Belief Walden agreed to withdraw a shareholder decision filed for the spring assembly of JPMorgan Chase & Co. (NYSE:)
In return, the Wall Avenue financial institution agreed to offer extra particulars in a report this fall together with about its lobbying actions and commerce affiliation memberships, based on a securities submitting.
A JPMorgan spokesperson declined additional remark.
Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or harm because of reliance on the knowledge together with knowledge, quotes, charts and purchase/promote alerts contained inside this web site. Please be totally knowledgeable concerning the dangers and prices related to buying and selling the monetary markets, it is among the riskiest funding kinds doable.