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illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:
🗞️ Driving the news: Climate-related shareholder resolutions are crucial for guiding companies toward sustainable practices, evidenced by a record 278 proposals this proxy season, emphasizing carbon reduction and clean energy transitions
🔭 The context: Investors are focusing on climate risks threatening profits, with significant support for resolutions at companies like Jack in the Box and Wingstop
• The U.S. SEC plays a key role by overseeing proposal inclusions and exclusions, ensuring a balanced system
🌍 Why it matters for the planet: These resolutions drive corporate accountability and foster sustainable business practices, which are essential for addressing climate change and protecting environmental health
⏭️ What's next: The SEC's new climate risk disclosure rule, though late for the 2024 proxy season, will push companies towards more specific climate-related financial disclosures in the future
💬 One quote: “The proxy process is proving essential to investors’ strategies,” highlighting the ongoing investor commitment to sustainable corporate governance
📈 One stat: 22.4% average support for climate-related resolutions versus 1.6% for anti-ESG proposals as of mid-June
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