Support for shareholder proposals focused on climat in thedropp,M dat16% — half the level of three years ago.
📉 Key Drivers Behind the Shift:
Political headwinds: Growing resistance to ESG from President Trump and Republican lawmakers.
Corporate action: Many companies have already adopted reforms, closing disclosure gaps that activists previously targeted.
Risk aversion: Large investors are increasingly cautious about attracting public or political scrutiny.
🔍 Notable statistics:
Green Century’s climate-focused resolutions earned only 13.6% support, down from 21% in 2024.
T. Rowe Price backed just 8% of environmental proposals and 4% of social ones, down from last year.
Proxy advisers ISS and Glass Lewis reduced their support for both environmental and social proposals.
“Anti-ESG” proposals from conservatives gained only 2.7% support, largely unchanged from prior years.
🤝 Despite lower voting figures, many companies are opting for behind-the-scenes settlements to avoid reputational risk. This includes quietly negotiating with proposal filers to withdraw resolutions — a tactic used by both pro- and anti-ESG groups.
📣 “There’s simply less room for activists to push now,” said Marc Lindsay of Jasper Street. As corporate reporting improves, the ESG debate is shifting from calls for reform to measuring impact.
