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A record number of environmental and social-related shareholder proposals, 349, went to a vote before U.S. boards in the first half of 2024, according to data unveiled by Diligent Market Intelligence Tuesday. This is up from 319 and 256 for the same time span in 2023 and 2022, respectively. In spite of the record number of submissions put forward by June 30 this year — including six climate proposals that secured above 40% support — average support for environmental and social proposals continues to fall. E&S proposals at U.S. companies have received an average of 16.2 % support so far this year, per Diligent. The findings track with recent analysis from law firm Freshfields and the Sustainable Investments Institute, both of which show ESG proposal approval rates continue to fall from a high in 2021.
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