DEI
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US boards answer to all shareholders, not just the loudest ones
There is a growing habit – mostly American, often loud – of treating ESG as a single cultural package: climate, DEI and whatever social flashpoint dominates the cycle. It makes for sharp copy. It is also a category error in the markets where stewardship decisions are actually made. In the UK and EU, ESG is regulated process: rules, disclosures and supervisory expectations designed to surface financially material sustainability risks. Think less ‘cause’, more ‘cash flow’. Across the UK and Europe, faith-based investing has long been expressed through formal, responsible-investment practice rather than culture-war branding. Since the 18th century, Church and…
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Use of the word ‘diversity’ in corporate disclosures drops sharply in 2025, research shows
New disclosure data shows how quickly corporate language can shift as boards respond to legal, regulatory and investor pressure Only 36 percent of the top 100 US companies mentioned the word ‘diversity’ in human capital management disclosures – compared to 96 percent who did so in 2024 – according to a new report which demonstrates the speed of change in priorities for US firms. The 63 percentage-point decline from year to year was matched across US stock indices, with diversity references falling 60 percent among S&P 500 companies and 51 percent among the Russell 3000, according to law firm A&O…
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The art of engagement: how to build lasting shareholder relationships
Political pressure and regulatory change pose a challenge to IR and governance teams Shareholder engagement remains a top priority for companies navigating today’s complex capital markets. Proactively engaging key shareholders allows companies to communicate their long-term strategies, explain operational decisions and develop and strengthen relationships with this key stakeholder group. This need for engagement has only grown amid unstable economic conditions, including supply chain issues, inflation, tariffs, trade tensions and related market volatility. Recent anti-DE&I and anti-ESG movements, executive orders issued by the new US administration, changing proxy advisory firm policies and renewed efforts by shareholder activists all underscore the…
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Despite political noise, the stats clearly show the anti-DEI movement does not have shareholder support
The movement fell flat in 2025’s proxy season with most proposals receiving less than 2 percent investor backing Shareholders sent companies a clear message this proxy season: anti-DEI proposals do not have their backing. At 30 of the largest US companies, together worth over $13 trn, every anti-DEI proposal was rejected, with most receiving less than 2 percent support from investors, according to nonprofit Impactivize. These proposals, which aimed to roll back corporate DEI efforts, made up about 40 percent of all DEI-related proposals this year, a sharp increase from 23 percent in 2024. Despite growing . . . Enjoy access to this and…
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How the SEC’s ‘pendulum swing’ has realigned rules with market realities this proxy season
DE&I, ESG proposals trends and regulatory changes take center stage at Governance Intelligence briefing How is the proxy season evolving? During a recent Governance Intelligence briefing on Lessons from the 2025 Proxy Season – held in partnership with BetaNXT – Amanda Thrash, senior counsel and assistant corporate secretary at The Williams Companies, said that DE&I issues were still of central importance to investors in 2025. ‘You had large institutional investors like State Street and proxy advisors like Glass Lewis both stating that they would vote against or recommend voting against directors on boards in companies that were not 30 percent gender diverse,’ she said.…
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Geopolitical volatility has made the IRO presence more important than ever
IROs are at the frontline for communication and engagement with shareholders. The role is as complex as it is satisfying while navigating the constant turbulence. At any given time, new regulatory requirements, shareholder tendencies or political factors demand a response.
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The sustainability Taliban, the eco right and why we need a new language for ESG: down the rabbit hole with Robert Eccles
When Robert Eccles wrote a piece called Grift capitalism: The GOP’s brilliant strategy for ripping off ordinary Americans, it received the usual dose of online hate mail. It also led to a challenge: if you can find a conservative that thinks sustainability is good for capital markets, will you stop ‘writing nasty stuff’ about Republicans? That led him to the position he speaks from today: a liberal ex-hippy who has found common ground with the so-called ‘eco right’. Eccles, a well-known author and lecturer who has been writing about non-financial metrics since the early 1970s, had already become frustrated with…
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Is DEI dead or alive at US companies this proxy season?
Diversity, equity and inclusion (DEI). Over recent times, the acronym has become inescapable – and corporate life is no exception
