By Ross Kerber
April 3 (Reuters) - The number of shareholder resolutions filed at U.S. companies by sustainability-minded activists dropped substantially this year, a new report shows, the focus of my column this week linked below.
For today, the story is far overshadowed by President Donald Trump's big tariffs which have roiled global markets. To help keep up you can subscribe to our new "Tariff Watch" newsletter by clicking here.
I've also provided links to stories about executive pay concerns at Goldman Sachs, and high demand for Toyota's hybrid vehicles.
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Shareholders dial back on resolutions
Sustainability-minded shareholder activists filed fewer resolutions for corporate annual meetings this year, but battles still loom on topics like corporate diversity efforts.
Investors pressing companies on environmental, social and governance $(ESG)$ matters filed a total of 355 shareholder proposals as of February 21, down from 536 of them filed at the same point in 2024 and 542 at the same point in 2023, according to a new report from shareholder activist group As You Sow and partner Proxy Impact.
Activists I spoke with cited a number of reasons for the decline including a sense that big investors would not support their measures, and concerns that Republican regulators might not let their resolutions go to a vote in the first place.
Another factor is that companies are wary of public battles and have seemed willing to make changes to avoid unwanted attention, said Andrew Behar, As You Sow's CEO.
One other point: proposals filed by conservative groups opposed to ESG efforts have been on the rise, a recent ISS report showed , though many of their items receive low support .
You can read my column this week by clicking here.
Company news
The top two proxy advisors, Institutional Shareholder Services and Glass Lewis, both recommended investors cast advisory votes against the pay of top Goldman Sachs GS.N executives, citing concerns about $160 million in stock awards to its top two executives.
Primark said its leader of 15 years, Paul Marchant, quit after admitting to an "error of judgment" during an interaction with a woman in a social situation last year. The fast fashion chain is part of Associated British Foods. ABF.L
A good problem to have: Toyota's 7203.T stocks of gasoline-electric hybrid vehicles are low at dealers across major markets because of soaring demand. Suppliers have struggled to keep pace, leading to parts shortages and long waits for car buyers.
On my radar
U.S. investment banks could cut more jobs if dealmaking declines in the months ahead because of economic uncertainty, analysts and recruiters told my colleague Saeed Azhar. You can read his story here.
Rising competition from China and protests against the political views of Tesla TSLA.O CEO Elon Musk seem to have cut into sales of its electric vehicles in key European markets in March, new data showed.
The last coal-fired power and heat plan in active production in Finland will shut down this week. The nation's solar and wind capacity has increased rapidly, leading to a collapse in coal usage.
(Reporting by Ross Kerber in Boston; Editing by David Gregorio)
((ross.kerber@thomsonreuters.com; (617) 412 0093;))
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