Of 174 proposals that came to a vote between Jan. 1 and June 30, two won majority support despite management opposition. Another 40 earned more than 15 percent of the shares voted, according to results reported by proponents and issuers.
As in 2006, investors primarily supported proposals asking companies to disclose and monitor their political contributions, to expand or report on their fair employment policies, and to issue broad-based reports on sustainability. These types of proposals received, on average, the support of 20 percent or more of shares cast. In a new trend, more investors are favoring proposals asking companies to track and reduce their greenhouse gas emissions. Those proposals received almost 20 percent average support this year.
The 174 social issues proposals that have come to a vote through June represent only about half the number filed during the first half of the year. Shareholder proponents withdrew many of their proposals, often after fruitful discussions with managers at the targeted corporations. In other cases, companies were able to obtain permission from the staff of the Securities and Exchange Commission to omit certain proposals from their proxy statements.
See full Press Release.
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