Shareholder votes on climate action plans ‘more complex’ than expected
Report reveals that since 2019 only 32 companies have agreed to submit their climate action plans to a shareholder vote.
Image: Christie Cooper/Shutterstock.com
Energy giant Shell caused a sensation back in May with its “say on climate” proposal allowing shareholders to vote on the company’s climate action plan. But are companies moving wholesale to introduce this new kind of voting? Research suggests there has been progress, but there has hardly been a stampeded to embrace this new form of accountability.
A report from SquareWell, an advisory firm specialising in shareholder engagement, says since a campaign was launched in 2019 only 32 companies have submitted, or will submit, their climate action plans to a say on climate (SoC) vote for shareholder approval. Of the the 32, 23 have formall
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