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SEC takes steps to free up proxy advisers, shareholder proposals
The agency approved rules that free proxy advisers from restrictions placed on them at the end of the Trump administration; it also amended the reasons companies can use to try to keep shareholder proposals off their ballots.
Behind that bombshell shareholder vote at Costco
Several institutional investors favored a resolution to reduce the company's greenhouse gas emissions, which passed with 70% approval
ESG, the proposed DOL rule and fiduciary duty
The Labor Department's proposed ESG rule is a great step forward. The transition to a more sustainable economy will require increased attention to material risks and opportunities, including those related to ESG factors.
BlackRock’s proxy move shows limit of dumping bad stocks
The fund manager announced that starting next year, some of its institutional clients will be able to play a bigger role in shareholder votes.
BlackRock voted against 255 directors because of climate issues
According to its stewardship report, the asset manager supported 35% of 843 shareholder proposals that it voted on in the recent proxy season, compared with 17% in the previous year.
J.P. Morgan acquisition of OpenInvest gives wealth managers another ESG tool
The bank is expected to pair OpenInvest with 55ip to enhance its private banking technology platform.
Decentralizing proxy power
Twenty-two percent of the shares of a typical S&P 500 company sit in the portfolios of the Big Three index fund companies: BlackRock, State Street and Vanguard. This is a massive voting bloc, especially when you factor in that many shareholders don't take the time to vote.
Proxy voting adds ESG leverage to retirement plans
A new Morningstar report presents proxy voting as a backdoor entry to ESG investing for retirement plan participants. As advocates pressure for simpler proxy voting procedures, retail investors could gain considerable leverage.
Goldman secrecy on harassment claims faces challenge
Goldman faces a vote at its annual meeting later this month on whether it should publish a report on how its mandatory-arbitration policy impacts employees and workplace culture.
Acting SEC Chair Lee calls for more proxy voting disclosure by funds
Lee said there may be a disconnect between passive index funds' proxy voting and their investors’ ESG inclinations.
DOL won’t enforce Trump-era ESG rules
The two rules were among the most heavily contested measures instituted by the DOL under former Secretary Eugene Scalia, with the 401(k) rule drawing nearly 9,000 public comments, most of which opposed it.
DOL limits retirement-plan proxy votes to those affecting financial returns
The move could curb shareholder actions related to sustainable investing
Fund managers need to flex voting muscles to force boards to appoint more women
A compelling body of research suggests that where women have greater representation on boards, companies simply perform better.
