Vanguard supported zero environmental or social shareholder proposals in latest season (2024)
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Vanguard—the second-largest asset manager in the world—announced last week that the company voted for zero environmental and social (E&S) proposals in the most recent shareholder season. Two weeks ago, this newsletter mentioned BlackRock also supported fewer E&S proposals. According to the Financial Times:
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Vanguard supported none of the 400 environmental or social shareholder proposals that it considered in the 2024 US proxy season, saying they were 'overly prescriptive', unnecessary or did not relate to material financial risks. … The world’s second-largest money manager is not alone in its dwindling support for environmental and social proposals. BlackRock, the largest at $10.6tn in assets under management, said last week that it had voted in favour of just 4 per cent of such measures worldwide. … Vanguard’s decision not to back environmental and social proposals has contributed to, and mirrored, a larger fall in support from record levels set in 2021. The median support for environmental and social shareholder proposals at Russell 3000 companies was 21 per cent and 18 per cent, respectively, this year, according to data from ISS-Corporate.[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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