CTUP releases second annual report on ESG proxy voting (2024)
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
The Committee to Unleash Prosperity (CTUP)—an organization opposing ESG—last week released the second edition of its investment company proxy voting and ESG report card. The organization issued a press release making the following three arguments:
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1. Many of America's major money management firms are still consistently voting for ESG/DEI shareholder resolutions that are pursued by left-wing pressure groups and shareholder activists. These votes are a violation of their fiduciary duty to their clients. 2. The general trend since 2022 is AWAY from ESG. The study finds that major money managers were about 25 to 30% less likely to vote for hostile ESG resolutions in 2023 than they were in 2022. But the study also finds that about half the time these companies continue to support these ESG resolutions. 3. The worst actors of all are the two major proxy voting advisory firms – ISS and Glass-Lewis. These advisory firms – which are employed by most major money managers – almost always recommend 'yes' votes on the most egregious ESG resolutions. ISS received an implied grade of F for their recommendations and Glass Lewis an implied grade of D.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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