ISS to create proxy voting options for ESG opponents (2024)
| Environmental, social, and corporate governance |
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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 |
Institutional Shareholder Services (ISS), the largest proxy advisory service in the world, has agreed to provide its clients with a new proxy voting option for ESG opponents. The new option uses guidelines devised by Jerry Bowyer, a longtime ESG skeptic:
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Institutional Shareholder Services (ISS), the influential proxy adviser majority owned by Deutsche Boerse (DB1Gn.DE) that recommends how shareholders should vote in corporate elections, will offer a new 'ESG skeptic' option, according to executives. … ISS currently offers seven types of specialty voting guidelines, beyond its benchmark guidelines, for investors like climate-focused groups or religious funds. ISS last year added 'board-aligned' investment voting guidelines that opposed many ESG resolutions, though the new offering may appeal to clients who want to go further against ESG. … [Jerry] Bowyer said he calls his approach that of an 'ESG skeptic' and that he supports ESG resolutions less than 5% of the time, compared to about 50% for the ISS benchmark guidelines. Bowyer said he and ISS executives started speaking after he criticized ISS on social media site LinkedIn in June 2023, discussions that led to the collaboration.[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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