This Glass Lewis report is chock-full of charts and analysis about how investors are approaching climate issues these days, with the conclusion being: “Climate remains a key issue for many investors around the globe – but one that is increasingly viewed in the context of financial materiality, and where the process of establishing general standards and expectations has developed to a more mature stage. With shareholders incorporating nuanced, company-specific climate considerations into their engagement program, assessment of board performance and broader investment criteria, climate stewardship has expanded beyond the traditional forum of shareholder proposals.”
Here are key take-aways from the report:
- In the 2025 proxy season, climate-related proposals made up over three-quarters of all environmental shareholder proposals. However, no climate-related proposals – or environmental proposals more broadly – received majority shareholder approval.
- Despite a lower number of climate-related shareholder proposals going to a vote, the 2025 proxy season saw a slight increase in the number of climate reporting proposals. But voting support has continued to decrease.
- Average support for proposals on emissions reductions targets dropped by more than half this year, to 12%. Unlike previous years, none of these proposals received majority shareholder support.
- Whereas average support remained static for shareholder proposals as a whole at 23%, it was cut in half for climate-related shareholder proposals, from 22% last year down to 11% in 2025.
