There remains considerable skepticism about the value of say-on-climate and the potential for unintended consequences. While the management of climate-related risks and opportunities is of clear importance to investors, our review of the global record on "say-on-climate" votes to date suggests that the initiative may be stalling. Notwithstanding the above, the global say-on-climate initiative may be stalling.
The predominance of ESG activism is also evident in this year's shareholder proposals: A noteworthy 88% of all shareholder proposals in 2022 concerned E&S matters, up from an already strong 62% in 2021. "ESG activism" is definitively here in Canada. Building on last year's ESG activism at Exxon Mobil Corporation, E&S concerns have factored into the Canadian activism landscape this year, namely at Suncor Energy Inc. As always, Laurel Hill strives to provide boards and management teams with thoughtful guidance and insights to prepare them for navigating the best path forward. The report focuses on shareholder activism, shareholder proposals, environmental, social and governance (ESG), executive compensation, diversity, and several other related areas. Click here to download the report. 7, 2022 /CNW/ - Laurel Hill Advisory Group is pleased to share Laurel Hill's 8th annual Trends in Corporate Governance Report, Canada's most comprehensive and longest-running annual guide to the trends, risks, and challenges affecting the Canadian corporate governance landscape. Issuers must carefully consider a range of costs, benefits, and risks associated with virtual meetings going forward. Institutional shareholders are placing more scrutiny on auditor tenure.
There was moderate improvement in support for say-on-pay advisory votes this year. There is continued progress in gender diversity and developing expectations related to diversity beyond gender. The new CBCA majority voting rules will expose non-TSX CBCA issuers to increased board activism going forward. Issuers must navigate "greenwashing" concerns and other E&S skepticism and challenges.īoard and transactional activism levels this year are moderately lower than in 2021, yet increasingly, larger companies and larger transactions are being targeted. The global say-on-climate initiative may be stalling. "ESG activism" is definitively here in Canada.
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