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Shareholder Activism

This year saw a record high in mutual fund support for climate-related resolutions tracked by Ceres (Mutual fund companies show record high support for climate change shareholder resolutions). Voting records show that mutual funds voted favourably 29% of the time in the 2013 proxy season, an all-time high for the annual survey conducted by Ceres […more…]

CookESG recently reviewed five hundred and two shareholder-sponsored resolutions voted during the 2013 U.S. proxy season (July 2012 to June 2013).1 Two-thirds are governance-related: board practices, executive pay, director elections, shareholder rights and shareholder value.  These averaged 41% support, slightly down on the 10-year high of 45% in 2009. One-third address social and environmental issues […more…]

This year's Proxy Preview was published by As You Sow Foundation, the Sustainable Investment Institute (Si2) and Proxy Impact today.   Authors Heidi Walsh and Michael Passoff provide a detailed picture of the upcoming proxy season, tracing trends in shareholder resolution filing, proxy voting and engagement activities.   Some of the biggest issues that they identify for this […more…]

The year 2010 tied with 2005 for the hottest year on record, globally. In 2010 CO2 levels reached a record high. Rising waters threatened coastlines and rendered properties in some parts of the world uninsurable. In less than a year Australia recorded its driest ever month, June 2010, and its costliest-ever flooding, in January 2011. […more…]

 Fund Votes research shows that SRI firms agree on what is to be done to improve the executive compensation.  Almost without exception, six SRI investment firms (including Domini, Calvert, Citizens, Parnassus, MMI Praxis and Walden) voted exactly alike on shareholder resolutions addressing various aspects of executive compensation in 2008 (blue bars on graph).   By comparison, mainstream mutual funds […more…]

  A new Research Brief from Fund Votes finds that 8 out of the 9 financial firms named in the US government bailout plan had been targeted by shareholder activists with a ‘say-on-pay’ resolution in 2008.   A number of major mutual fund families failed to support those initiatives and actually voted overwhelmingly against increasing oversight […more…]

Today the US government announced that it would inject $250 billion into the US banking system by buying large stakes in nine banks: Citigroup, JPMorgan Chase, Morgan Stanley, Goldman Sachs Group, Bank of America Corp, Merrill Lynch & Co, Wells Fargo & Co, State Street Corp and Bank of New York Mellon.  Eight of these […more…]