Our Proxy Voting Database is now public. Explore it here: https://t.co/8eszFu5kwf
"Unfortunately, asset managers are generally not voting in favor of long-term global health and prosperity. By providing open access to this data, we aim to increase accountability, enable research, and drive meaningful change."
Press release: https://t.co/4WmvyLCfTJ
This Thursday, Tesla shareholders will vote on Elon Musk’s new pay package. If it’s approved and Musk hits all 12 performance milestones, his stake will rise to at least 25% of Tesla—roughly $170B at today’s prices, or >$2T in future prices.
The plan has become a flashpoint in corporate governance: critics see extreme dilution enabled by a crony board, while supporters argue Musk is only rewarded if he delivers massive growth.
This chart looks back at last year’s meeting and the proposal to re-ratify Musk’s contentious 2018 pay plan, which a Delaware court had voided for being “excessive” (among other infractions). Using records from our public proxy voting database, we show how the 10 largest U.S. fund families voted: bubble size reflects their Tesla voting power, and color shows their support.
Eight of the ten supported re-ratifying his pay package, but the overall result was close (72% “For”): if BlackRock and Vanguard had voted “Against” instead of “For,” the proposal would have failed.
We’ll see how they vote this year.
In the meantime, if you want to download the voting records we’re displaying in this chart, you can make an account and get them from our free database here: https://t.co/tzIRSo55WH
We’ve updated our free database at https://t.co/x7eDh8CQvb: it’s now sitting at 47M+ proxy voting records from the last two years, including every vote from U.S. asset managers.
Our partners at @active_stewards just launched the Proxy Voting Database, the first public database of proxy votes cast by U.S. asset managers.
"Institutional proxy voting because is a powerful lever for environmental and social change."
Read more: https://t.co/4zGaBblnnr
Check out our latest weekly reading list where we spotlight @CalPERS's criticism of @exxonmobil execs regarding their lawsuit against investor @ArjunaCapital and activist group @followthis2015, among other stories: https://t.co/KPh6ZqbY8L
In this report, we highlight 21 companies with upcoming AGMs where we suggest investors heighten their due diligence and engagement on climate and energy issues based on a financial materiality screening approach. (3/3)
Our new report "State of Play: Proxy Season 2024" provides an update on what's happening on the climate shareholder proposal front, and lays out which proposals could have the highest impact 🧵 (1/3)
https://t.co/20oD78eX7s
The vast majority of the Russell 1000 (R1000) index's Scope 1 & 2 emissions are generated by companies that make up <10% of the index by market cap. This means that investors can afford to take a tailored, company- and industry-specific approach to sustainability issues. (2/3)
Check out our latest weekly reading list where we take a hard look at the debate around @sciencetargets' potential guidance change around using environmental attribute certificates (EACs) for offsetting Scope 3 emissions, among other stories: https://t.co/cjJe1vhr5y
Join us today at 1PM EST to hear about the current slate of climate shareholder proposals up for a vote this proxy season, and about the state of “ESG” more generally