Were a little bit in a pause mode, said Andy Behar, As You Sows CEO.
These criticisms escalated during Joe Bidens administration.
Behar said ESG opponents are unduly manipulating the market.
Political shifts and new rules are shrinking climate-focused shareholder action.© Anna Moneymaker (Getty Images)
They dont like capitalism, they dont like free markets, they dont like democracy, he said.
This is problematic for all the shareholders who are trying to keep our companies proceeding into the future.
Two of the three sitting commissioners one Republican and one Democrat were nominated by Trump.
The third, a Republican, was nominated by former president Joe Biden.
However, companies have also been emboldened to ignore shareholder proposals.
One way to measure this is by looking at the number of no action requests prompted by shareholder resolutions.
The largest chunk ask companies for information about thedecarbonizationstrategies or to reduce greenhouse gas emissions.
TD Bankagreedto an audit of its board of governance policies with the aim of improving climate risk management.
Five companies filed no-action requests, and the SEC has rejected two of these.
The others are still pending.
Were not panicked about any changes, Fairhead-Stanova said.
We are just continuing to do our work.
This article originally appeared inGristathttps://grist.org/business/trump-climate-equity-esg-woke-investing-shareholder-resolutions/.
Grist is a nonprofit, independent media organization dedicated to telling stories of climate solutions and a just future.
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