Support from the world's biggest asset managers for company shareholder resolutions that seek to advance progress on ESG issues "catastrophically crashed" last year, despite many major investors remaining committed to meeting net zero emissions goals.
That is the stark conclusion of ShareAction's latest annual assessment of the votes cast by the world's top asset managers at company AGMs, which indicates support for progressive shareholder ESG resolutions experienced a major setback last year. The non-profit found only 3% of assessed environmental resolutions won enough votes to pass in 2023, down from 32% in 2021. The campaign singled out a number of asset managers which it said had voted against resolutions aimed at protecting the environment in 2023, including JP Morgan Asset Management, State Street Global Advisers, and Baillie...
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