Environmental-, social-, and governance-related shareholder proposals are down 34 percent this year as the Trump administration galvanizes the movement against “woke investing,” according to an annual report by the shareholder advocacy groups As You Sow and Proxy Impact.
The report counted 355 such proposals as of February 21, compared to 536 proposals filed by the same time last year. Wariness over anticipated changes at the Securities and Exchange Commission contributed to the decline, the authors said, as many investors opted to postpone resolutions until it became clear whether they would be blocked by new SEC leadership.
“We’re a little bit in a pause mode,” said Andy Behar, As You Sow’s CEO. He said a “right-wing crusade” against socially responsible investing has left shareholders in limbo as they figure out how to navigate the shifting political climate.
The term ESG — shorthand for an investment approach that prioritizes environmental, social, and governance issues — dates to 2004 and doesn’t have a fixed de... Read more
