市場觀點

Annual General Mayhem: Looking ahead to a lively proxy season

The proxy voting season is upon us, and it looks set to be another lively series of annual general meetings at the companies that Robeco invests in. Support for environmental and social-based resolutions is likely to further dwindle amid a wider backlash against ESG, though governance remains as important as ever.

Summary

  1. Likely support for E&S resolutions wanes as backlash continues
  2. Common denominator of corporate governance remains strong
  3. Bumpy ride expected for 2025 Annual General Meeting season

Shareholders will have a more difficult time trying to make climate a high priority on corporate agendas, while plans by some companies to re-evaluate their focus on diversity is causing concern. And the AGMs themselves are likely to attract drama just like in previous years, following a pushback from companies against activist shareholders, and potential disruptions by protestors over climate and other issues.

In this lookahead to the traditional spring AGM season, Head of Voting Michiel van Esch assesses what kinds of outcomes investors can expect, with examples from three major companies that have been in shareholders’ sights for differing reasons.


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