Schroders says there's a rise of anti-ESG resolutions and "politically-motivated" pseudo-ESG resolutions in US AGMs.Schroders says there's a rise of anti-ESG resolutions and"politically motivated" pseudo-ESG resolutions in US AGMs.The company is also worried about the declining support for the environmental and social aspects of ESG globally.
"At the moment, they [anti-ESG resolutions] aren't getting high levels of support. It's very low levels of generally under 10%," said Schroders' head of active ownership, Kimberley Lewis."Is this something that we need to worry about happening in Europe? At the moment, I do not think so," she said.
However, across all markets, Schroders has seen a persistent decline in support for the social and environmental components of ESG when shareholders vote on tabled resolutions. But the average support for those has decreased from around 25% to 20%. The percentage of social and environmental resolutions that got enough shareholder votes to pass is now around 3%, much lower than the peak of 15% during the 2021 AGM season.