Proxy Firm ISS Rebuffs ESG Fears of Republican State Treasurers

Proxy advice giant ISS has rejected Republican state treasurers’ claims it pushes a political agenda, telling them it gives unprejudiced recommendations to investors voting on ESG issues at companies’ annual meetings.

Institutional Shareholder Services Inc. offers its customers various voting options that empower them to vote how they deem fit, the firm said in a letter to 22 treasurers and other state financial officials Thursday. Utah Treasurer Marlo Oaks, Florida Chief Financial Officer Jimmy Patronis and other financial officials told ISS and fellow proxy adviser Glass, Lewis & Co. in May that they question whether the firms’ guidance tied to ...