The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Wed, 22 Apr 2026 11:32:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png The Dangerous “Promise of Market Reform”: No Shareholder Proposals – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 The Dangerous “Promise of Market Reform”: No Shareholder Proposals https://corpgov.law.harvard.edu/2017/06/15/the-dangerous-promise-of-market-reform-no-shareholder-proposals/?utm_source=rss&utm_medium=rss&utm_campaign=the-dangerous-promise-of-market-reform-no-shareholder-proposals https://corpgov.law.harvard.edu/2017/06/15/the-dangerous-promise-of-market-reform-no-shareholder-proposals/#comments Thu, 15 Jun 2017 13:36:09 +0000 https://corpgov.law.harvard.edu/?p=93712?d=20171002094036EDT Posted by Adam M. Kanzer, Domini Impact Investments LLC, on Thursday, June 15, 2017
Editor's Note:

Adam M. Kanzer is Managing Director at Domini Impact Investments LLC. This post is based on a Domini publication by Mr. Kanzer. Related research from the Program on Corporate Governance includes Private Ordering and the Proxy Access Debate by Lucian Bebchuk and Scott Hirst (discussed on the Forum here).

This has been a historic proxy season, marking three majority votes for shareholder proposals addressing climate change at Occidental Petroleum, PPL Corp. and ExxonMobil, with the latter proposal exceeding 60% support. As of this writing it is too early to tell which asset managers voted for these proposals, with the exception of BlackRock, which announced that it voted for the proposal at Occidental (Vanguard also reportedly supported that proposal). This year, Fidelity announced that it may support shareholder proposals on sustainability matters and both BlackRock and Vanguard said they were strongly weighing supporting the ExxonMobil proposal.

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