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Climate Alliance Falls Short When It Comes to Shareholder Votes

Most asset owners joining groups that pledge to reduce carbon footprints aren’t directly voting on climate resolutions.

Demonstrators during a “Global Day of Action” protest at the COP26 climate talks in Glasgow, U.K., on Nov. 6.

Demonstrators during a “Global Day of Action” protest at the COP26 climate talks in Glasgow, U.K., on Nov. 6.

Photographer: Emily Macinnes/Bloomberg
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For all the kudos that pension plans and other asset owners get for joining groups that pledge to reduce their carbon footprints, most aren’t directly voting on climate resolutions at annual shareholder meetings.