Reproductive rights are on the line this year as the U.S. Supreme Court considers a direct challenge to Roe v. Wade, the landmark decision protecting the right to access abortion without excessive government restriction. Should Roe be overturned or gravely weakened, as is widely anticipated, as many as 26 states are poised to ban abortion completely within their borders.
Read moreGrowing Support for Racial Justice Audits
Interfaith Center on Corporate Responsibility (ICCR) members have a long history of supporting calls for diversity and justice, including respect for the rights of Indigenous Peoples and addressing the negative impacts of policies and practices on communities of color.
Read moreChanging Corporate Attitudes on Racial Justice
After George Floyd’s murder in May 2020, stakeholders in public companies asked management and boards what they could do about racial injustice. Without any metrics to define best practices and separate leaders from laggards, there was no way to measure and therefore manage this critical social issue.
Read moreA Model Code for Companies to Govern Their Political Spending
As the 2022 proxy season unfolds, there’s good news and concerning news about companies and their political spending. Which wins out – greater control over political spending or a return to “business as usual” – will affect how companies fare as shareholders pay even closer attention to what they do with their political money and how it aligns with their values and positions.
Read moreMcDonald's Breaks Animal Welfare Pledge - Now Faces Board Battle
On February 20, 2022, McDonald’s confirmed that Carl Icahn nominated both Maisie Ganzler and me for the company’s board of directors in response to McDonald’s failure to meet a public pledge it made ten years ago to end the egregiously cruel and controversial practice of pig gestation crates by this year.
Read moreSecret Influence: Astroturfing Sways Public Policy
Lobbying by companies can provide governments with valuable insights and data for public policy making, yet only 8 percent of the world’s 1,000 largest companies report their spending on lobbying to investors.
Read morePipeline Finance and Respect for Indigenous Rights
Oil is already flowing through the Enbridge Line 3 tar sands pipeline, a project that has been subject to several years of protest, litigation, and opposition led by Indigenous Peoples and Indigenous-led organizations.
Read moreMandatory Human Rights and Environmental Due Diligence Is Good for Investors and Business
When done responsibly, business can be a driving force for prosperity and inclusive economic development. Yet, far too often, companies in many different sectors harm people and planet in their operations or value chains.
Read moreData Transparency Key to Improving Diversity, Equity and Inclusion in the Workplace
As the great resignation rages on and businesses struggle to retain top talent, shareholders argue that more transparency about diversity and inclusion data will help companies drive need advancements in social and racial equity. Some 65 shareholder proposals this year seek information on decent work, and another four dozen ask for workforce diversity data.
Read moreTechnology Transfer Needed to End COVID-19 Vaccine Inequity
Oxfam and co-filers have filed shareholder proposals at Moderna and Pfizer asking the companies to study how they might transfer Covid-19 vaccine technology and know-how to manufacturers in low- and middle-income countries. The companies’ refusal to transfer mRNA technology is prolonging the Covid-19 pandemic.
Read moreConcealing Harassment and Discrimination Claims Hinders Diversity Efforts
In 2020, after George Floyd’s murder, we monitored many of the CEO statements and company pledges to support the Black Lives Matter movement and to increase their diversity, equity, and inclusion efforts. Now, in 2022, employees and investors want to see real progress on these pledges.
Read moreNew Universal Proxy Rule Will Democratize Director Elections
In November 2021, the SEC adopted final rules that will require parties in a contested corporate director election to use universal proxy cards for shareholder meetings held after August 31, 2022. Under the new rules, both the company and any shareholder seeking to elect a slate of director candidates at a shareholder meeting will be required to use proxy cards that include the names of all director nominees presented for election at the meeting.
Read more2022 Proxy Legal Overview: ESG Proposals in Ascendance
The 2022 proxy season reflects the ascendance of support for ESG shareholder proposals, along with policy changes at the SEC that both support and undermine these proposals.
Read moreLawsuit Challenges SEC's Restrictive Shareholder Proposal Rules
In September 2020, the SEC under Chairman Jay Clayton issued amendments to Rule 14a-8 that substantially restrict shareholders’ access to the corporate proxy statement. The Clayton SEC’s actions came in the context of years of lobbying by major trade associations like the Business Roundtable, the U.S. Chamber of Commerce, and the National Association of Manufacturers to limit shareholders’ ability to effectively engage with the companies they own on critical environmental, social, and governance issues.
Read moreThe Promise of Retail Shareholder Power
Voting is integral to the democratic process. During the 2020 U.S. Presidential election, it felt as though you could hardly go a day without hearing a celebrity or politician urging the public to vote.
Read moreA New Investment Theory for Dealing with Systemic Risks
The definition of what it means to invest is changing. Today, investors are looking beyond their trading terminals and tackling investing risks in the real world, where value is created, as well as in the capital markets, where it is priced.
Read moreCost Externalization: A Bad Trade for Diversified Shareholders
The Shareholder Commons has filed or otherwise supported 19 shareholder proposals in 2022 that focus on systematic risks, including mis/disinformation, climate change, and antimicrobial resistance. The common thread running through these proposals is how a company’s externalized costs affect shareholders by reducing the value of other assets in their portfolios.
Read moreHow to Make ESG Pay Links More Effective
Shareholder resolutions requesting companies disclose plans to achieve net zero emissions by 2050 received increased support in the 2021 proxy season. While this is a positive development, companies must do more to cut emissions in half by 2030 to meet the Paris climate treaty goals. The way to make this work is to have a direct link to executive compensation packages. If the board sets a real financial incentive then executives will make it happen.
Read moreBoards Face "NO" Votes Due to Lack of Climate Governance Practices
Investors increasingly are ready to hold board members of U.S. public companies accountable for failing to appropriately oversee their companies’ climate-related risks and opportunities.
Read morePositive Signs on the Road to Board Diversity
Board diversity is improving, but this is not the time to back down. Companies, shareholders, and the overall economy benefit when board oversight better reflects the marketplace and draws from the broadest possible talent pool.
Read more