Our members filed 280 resolutions for the 2020 proxy season on a range of topics, from human rights & worker rights, to climate change and high drug prices. Of particular note was this season's surge in human rights-related asks; check out our 2020 Proxy Resolutions and Voting Guide for further details.
The filing season concluded in February, and we are now moving into the end of the 2020 corporate annual general meeting season, where those resolutions that were not withdrawn by their proponents go to a vote of all shareholders.
If a company reaches an agreement with investors to implement the main requests of their proposal – such as issuing a report or amending a policy – the investors may choose to voluntarily 'withdraw' their resolution. Every year ICCR members negotiate dozens of these successful agreements. As of early June, ICCR members have successfully negotiated 100 substantive agreements.
- Amazon (human trafficking prevention, and third-party sellers)
- BlackRock (lobbying expenditures, and proxy voting policies related to climate change)
- BP (aligning operations with the Paris climate agreement)
- Chipotle (aligning operations with the Paris climate agreement)
- Coca-Cola (political spending)
- CoreCivic (human rights)
- ExxonMobil (prison labor)
- Goldman Sachs (GHG footprint of its lending activities)
Agreements on resolutions addressing climate change led the way with twenty-two; next came diversity and inclusiveness agreements, which saw twenty. In addition, there were fifteen agreements reached on resolutions dealing with human rights & worker rights, eight on health, eight on lobbying & political contributions, and seven on corporate governance. The rest dealt with a variety of issues.
Regarding the 108 ICCR member resolutions that will be going to a vote this year, there have so far been nine majority votes. These include:
79.08%: Genuine Parts: Human Capital Management Disclosure
66%: O'Reilly Automotive: Human Capital Management Disclosure
61.14%: Fastenal: Workforce Diversity Report
60.92%: Johnson & Johnson: Board Oversight -Risks Related to the Opioid Crisis
56.41%: Ovintiv (formerly Encana): Disclose GHG Reduction Targets
54.70%: Phillips 66: Assess Risks of Expanding Operations in Flood-Prone Areas
54.50%: J.B. Hunt Transport Services: Report on Plans to Align Operations with Paris Agreement
53%: Chevron: Climate lobbying
51.35%: Centene: Political Contributions
In addition, 71% of independent shareholders (15.2% including JBS SA-controlled shares) voted for the Pilgrim's Pride water pollution resolution. The two highest votes so far this seasons - at Genuine Parts and Fastenal - were for resolutions addressing workplace inclusiveness.
Of all resolutions that have gone to a vote, forty-four received votes of 25% or greater.