Anti-ESG Shareholder Proposals Swell in Number but Lose Support

The number of shareholder proposals asking companies to scale back their diversity, equity, and inclusion practices is growing rapidly, though support for such proposals remains low, a new study found.

Investors filed 17 bids opposing companies’ DEI efforts during this year’s proxy season from Jan. 1 through June 30, up from five during the same time period in 2023, the nonpartisan research and trade group The Conference Board found in a report released Wednesday. The report was produced with environmental, social, and governance analytics firm ESGAUGE, Russell Reynolds Associates, and Rutgers University’s Center for Corporate Law and Governance.

The DEI-related ...