Support for ESG Shareholder Proposals Plummets Amid GOP Backlash
Overall votes for environmental, social and governance resolutions dropped by about a third from last year’s levels.
Photographer: Daniel Acker/Bloomberg
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Investor support for environmental and social shareholder proposals slumped to the lowest in six years amid the Republican backlash against sustainable investing.
Average backing for resolutions focused on climate change, workers’ rights, diversity and corporate governance declined this year to about 22% at annual shareholder meetings, down from a peak of 33% in 2021, according to a tally of votes compiled by the Sustainable Investments Institute through Thursday. Support hasn’t been this low since 2017.