Record-Breaking Year: As You Sow 2021 Shareholder Impact Report Shows 5 Majority Votes
188 corporate engagements leading to 86 resolutions and more than $1.6 trillion of AUM voted in support of As You Sow resolutions
FOR IMMEDIATE RELEASE
MEDIA CONTACT: Stefanie Spear, [email protected], 216-387-1609
BERKELEY, CA—SEPT. 21, 2021—As You Sow today released its “2021 Shareholder Impact Review: Changing Corporations for Good” summarizing its 2021 proxy season engagements. The report provides details of As You Sow’s 188 corporate engagements with 142 companies across 12 program areas. Each engagement is designed to assist the company avoid material risk by offering sound business solutions and progress on environmental, social, and governance (ESG) issues.
“This year saw record-breaking votes as shareholders united to help companies identify and reduce material risk,” said Danielle Fugere, president of As You Sow.
Of these engagements, 86 escalated to formal shareholder resolutions filed on behalf of 181 shareholders. Forty-five resolutions were withdrawn after companies agreed to take responsive actions. Twenty-one went to a vote, achieving share-value support of more than $1.6 trillion and earning an average 43.3% vote — with a record five majority votes ranging from 53.5% to 98% support.
“The breadth and depth of the As You Sow team of issue experts continues to expand with new initiatives, including racial justice and Say on Climate, added this year,” said As You Sow CEO Andrew Behar. “Our engagements with each company are based on deep research in which we identify and analyze material risk. Our program teams then sit down with corporate management to assist in finding practical business solutions for all stakeholders. Ultimately we help these companies reduce risk and improve their brand.”
The report provides a comprehensive listing of each engagement and a summary of highlights. It includes more than 100 ongoing dialogues on a range of critical ESG issues. The five majority votes include a 98% vote at General Electric on climate change that paved the way for an agreement by the company to disclose Scope 3 emissions and reduce them 5% per year over the next decade — a commitment that will lead to global climate progress in critical issue areas such as energy and aircraft engines.
The 81% vote at Dupont on plastic pollution is the highest vote ever on an environmental resolution opposed by management — and aligns with a recently passed federal bill, HR3684, that, among other important actions, mandates disclosure of plastic pellet spills.
Other majority votes include two addressing diversity, equity, and inclusion at American Express (60%) and Union Pacific (82%) as well as a Say on Climate resolution at Booking Holdings, Inc. (56%) asking the company to adopt a Paris-compliant net zero plan and report annual progress to shareholders.
The 188 engagements addressed the following issue areas: 81 on climate change; 46 on diversity, equity, and inclusion; 21 on ocean plastics, single use plastics and recyclability; 7 on pesticides; 6 on racial justice; 5 on political spending; 5 on antibiotics misuse and overuse in factory farming; 5 on petrochemicals; 4 on governance; 4 on PFA reduction or elimination; 3 on CEO pay and wage equity; and 1 on water use.
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As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies. Click here to see As You Sow’s shareholder resolution tracker.