Anti-ESG Proposals Surged in 2024 But Earned Less Support

Anti-ESG proposals flooded U.S. corporate annual meeting agendas in 2024 by shareholder proponents who do not support limiting corporate environmental impacts, promoting diversity, or providing investors with more ESG disclosure, filing more than 100 shareholder proposals as of June 30, 2024.  Support averaged only 1.9% of shares cast, while 98% opposed the proposals.  The anti-ESG proposals continued to focus largely on disrupting the current consensus that diversity, equity, and inclusion (DEI) improves companies and benefits investors.  But the proponents continued to suggest that corporate political involvement favors liberals and aim at efforts to mitigate climate change as well as DEI.  A new batch of right-wing evangelical groups also joined long-time anti-ESG proponents in 2024.