Report highlights ‘worrying retreat’ in support for shareholder resolutions on environmental and social risks
Support for shareholder proposals aimed at tackling environmental and social risks hit a record low last year, figures show, amid a “worrying retreat” by investors, particularly in the US.
A report compiled by the responsible investment campaign group ShareAction found that, out of 279 environmental, social and governance (ESG) shareholder resolutions put forward at annual general meetings last year in the UK, Europe and the US, only four – or 1.4% – secured majority support.
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