Companies See Dip in Shareholder Support for ESG Issue Votes

Shareholder support for issues subject to a vote at companies’ annual meetings in the first six months of 2023 hit its lowest level within the past five years, a new report shows.

Lower-than-expected stock prices are likely a top driver, especially for declining approval of directors and executive pay packages, according to the report issued Wednesday by financial technology company Broadridge. Environmental, social, and governance-related proposals also saw decreased backing from investors as some companies have taken steps to be “more proactive and transparent,” Broadridge said.

Its report offers a snapshot of shareholder voting trends at a time when ESG ...