House Republicans are looking into large labor unions’ use of the proxy voting process at annual shareholder meetings to influence companies’ environmental, social and governance policies.
House Education and Workforce Committee Chair Rep. Virginia Foxx (R-N.C.) on Wednesday sent letters to leaders of the International Brotherhood of Teamsters, AFL-CIO and Service Employees International Union asking them to detail how much time and money their unions spend introducing and trying to sway votes on shareholder proposals, and how those activities affect the value of their members’ retirement assets.
“In recent years, unions have engaged in significant shareholder proxy voting activities ...
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