Vanguard backed none of the 400 ESG proposals put forward by shareholders during the 2024 US proxy season, stating they were either “overly prescriptive” or did not tackle financially material risks.
In addition, Vanguard argued several proposals put forward by shareholders were either "repeats or variations of previously filed proposals" that the companies in question have acted to address, according to the asset manager's US regional brief published on Thursday (29 August). The rejections included 40 ‘counterproposals' that featured on US company ballots this year, with the asset manager stating this year's rebuke of ESG proposals took place on a case-by-case basis by applying the funds' voting policies. The number of ESG-related proposals coming from shareholders increased in t...
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