Tom. A brief comment. Time to re-think tactics and strategies around proxy voting in the US - where after all, votes are only advisory. it’s clear now (after the Exxon) vote that the Big 5/6 will smother any current attempt at coordinated ESG related votes. Tesla will in my view likely follow that, notwithstanding however meritorious the labour standards and pay proposals.
I have been thinking along very similar lines. The votes on Freedom of Association resolutions have fallen a bit (not as much as on other topics). But as you say that huge block of votes controlled by the large US managers is now a dead weight. Part of it has to involve asset owners getting control of voting rights?
Tom. A brief comment. Time to re-think tactics and strategies around proxy voting in the US - where after all, votes are only advisory. it’s clear now (after the Exxon) vote that the Big 5/6 will smother any current attempt at coordinated ESG related votes. Tesla will in my view likely follow that, notwithstanding however meritorious the labour standards and pay proposals.
I have been thinking along very similar lines. The votes on Freedom of Association resolutions have fallen a bit (not as much as on other topics). But as you say that huge block of votes controlled by the large US managers is now a dead weight. Part of it has to involve asset owners getting control of voting rights?