Proxy advisory firm Institutional Shareholder Services Inc. is pushing back against Republican criticism of its ESG voting guidelines, saying its recommendations to investors on corporate climate change and diversity proposals are consistent with its fiduciary duty.
Republican attorneys general from 21 states including Texas, Utah and West Virginia sent a letter to ISS and Glass, Lewis & Co. in January, saying its proxy voting guidelines for the 2023 season on environmental, social and governance issues weren’t material to investors and could harm the value of the states’ investments and pensions.
“ISS’s duty is to understand its clients’ needs and provide ...