Top investors only voting for ESG proposals 7.5% of the time

Report from Tulipshare

The top ten institutional investors have poor and inconsistent ESG voting records despite increasing demands from retail investors, a new report has found.

The report from activist investor platform Tulipshare examined the voting records of the top ten global institutional investors voting in annual general meetings of the top 20 companies by market cap, finding that the giant investors only voted for shareholder proposals on ESG issues 7.5% of the time. Large asset managers were found to be failing to support proposals from all areas of ESG, with BlackRock, Vanguard and Fidelity all voting against every proposal to reform board governance last year, including proposals such as electing an independent chair and employee representation on th...