Notable drop in European say-on-climate plans put to vote

In this article, Noemi Distefano, a reporter from IR Magazine, delves into the insights provided by Morrow Sodali's European Lighthouse.

The December 2023 edition of Lighthouse reveals that only 17 European companies put their climate plans to a vote in 2023, down from 36 the previous year, despite the emergence of the idea of "say-on-climate votes" in 2020. France, Spain, and the UK lead in climate plan proposals, while Portugal saw its first company, energy firm EDP, putting its climate strategy to shareholder approval, achieving nearly 100% in favor. The drop in such resolutions suggests a divisive trend, with varying opinions among investors on the need for shareholder votes on climate plans. The report also highlights the need for greater board diversity in European corporate governance, emphasizing the challenges ahead in the evolving business landscape. Additionally, Greece and Portugal are noted to be significantly behind the gender diversity threshold set by the EU for listed companies, with less than three years until the deadline.

Click here to read the article in full here.