Recapping the 2024 proxy season

During the proxy season, shareholders vote on the resolutions presented during company annual general meetings. With the 2024 proxy season drawing to a close, the Interfaith Center on Corporate Responsibility (ICCR) recently hosted a webinar for faith-based investors to summarize the season, including members’ 2024 resolutions, the challenges shareholders faced, and the votes achieved at company meetings.

  • As of June 2024, ICCR members filed 400 resolutions. Climate change and human rights & workers’ rights were the subjects of the most resolutions. Specifically, shareholders most frequently sought transparent reporting on company lobbying activities and climate transition plans.
  • Withdrawals of resolutions decreased in 2024 with the exception of resolutions filed with pharmaceutical companies on patent resolutions, which asked companies whether their patenting practices hindered patients’ access to drugs and treatments.
  • The downward trend in support for shareholder resolutions continued, average decrease of 3.9% year over year. There is some concern that political pressures had some influence in the ways investors voted this year, and that the downturn in support for resolutions is partially due to this pressure.

The data shared during the proxy season review will inform Mercy Investment Services’ planning for the 2025 shareholder advocacy season.

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