How financial firms' ESG backlash could soon backfire

Some getting 'cold feet' at climate action

Shareholder support for climate resolutions at major firms hit a new low last year, despite evidence showing corporate decarbonisation efforts are helping to deliver attractive returns.

The planet may be warming at an unprecedented rate, but some of the world's biggest investors seem to be getting cold feet when it comes to climate action. Fresh research this week by ShareAction shows asset managers' support for shareholder resolutions aimed at tackling social and environmental issues crashed to a new low last year, with only a fraction of ESG-related proposals securing majority support.   Schroders becomes first adopter of all four SDR labels The non-profit group analysed how 70 of the world's largest asset managers – together representing trillions of dollars...