CAS is a non-partisan think tank focused on the asset management industry's approach to the green energy transition. In residence at @jainfamilyinst.
New York, NY
Joined June 2023
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Our Proxy Voting Database is now public. Explore it here: proxydata.org/index.html
"Unfortunately, asset managers are generally not voting in favor of long-term global health and prosperity. By providing open access to this data, we aim to increase accountability, enable research, and drive meaningful change."
Press release: jainfamilyinstitute.org/anno…
This Thursday, Tesla shareholders will vote on Elon Musk’s new pay package. If it’s approved and Musk hits all 12 performance milestones, his stake will rise to at least 25% of Tesla—roughly $170B at today’s prices, or >$2T in future prices.
The plan has become a flashpoint in corporate governance: critics see extreme dilution enabled by a crony board, while supporters argue Musk is only rewarded if he delivers massive growth.
This chart looks back at last year’s meeting and the proposal to re-ratify Musk’s contentious 2018 pay plan, which a Delaware court had voided for being “excessive” (among other infractions). Using records from our public proxy voting database, we show how the 10 largest U.S. fund families voted: bubble size reflects their Tesla voting power, and color shows their support.
Eight of the ten supported re-ratifying his pay package, but the overall result was close (72% “For”): if BlackRock and Vanguard had voted “Against” instead of “For,” the proposal would have failed.
We’ll see how they vote this year.
In the meantime, if you want to download the voting records we’re displaying in this chart, you can make an account and get them from our free database here: bit.ly/47za7Ud
We’ve updated our free database at proxydata.org: it’s now sitting at 47M+ proxy voting records from the last two years, including every vote from U.S. asset managers.
DATABASE → proxydata.org
In one week, CAS will be hosting a virtual panel with @jonasnahm, Thierry Philipponat (@forfinancewatch), @GregorSemieniuk and @jvtklooster on the changing landscape of climate policy -- registration details below!
The Center for Active Stewardship retweeted
i really like @nolan_lindquist's critique of decarbonization tech narratives in the @active_stewards newsletter!!
blog.activestewardship.org/p…
Check out our latest weekly reading list where we spotlight @CalPERS's criticism of @exxonmobil execs regarding their lawsuit against investor @ArjunaCapital and activist group @followthis2015, among other stories: blog.activestewardship.org/p…
To get our weekly news roundup sent straight to your inbox, you can subscribe at blog.activestewardship.org/
Our new report "State of Play: Proxy Season 2024" provides an update on what's happening on the climate shareholder proposal front, and lays out which proposals could have the highest impact 🧵 (1/3)
activestewardship.org/wp-con…
The vast majority of the Russell 1000 (R1000) index's Scope 1 & 2 emissions are generated by companies that make up <10% of the index by market cap. This means that investors can afford to take a tailored, company- and industry-specific approach to sustainability issues. (2/3)
Check out our latest weekly reading list where we take a hard look at the debate around @sciencetargets' potential guidance change around using environmental attribute certificates (EACs) for offsetting Scope 3 emissions, among other stories: blog.activestewardship.org/p…
To get our weekly news roundup sent straight to your inbox, you can subscribe at blog.activestewardship.org/
The recording is now live for the panel we hosted this week on "ESG's Second Act" with @leee_harris from @FT, @thisismichaelo from @L_Catterton, Marian Macindoe from @Parnassus_Funds, Jessica Whitt from @Barclays, and @nolan_lindquist from CAS.
youtube.com/watch?v=yX2LcQHK…
Join us today at 1PM EST to hear about the current slate of climate shareholder proposals up for a vote this proxy season, and about the state of “ESG” more generally
Join us this Wednesday, April 17, for a panel discussion on ESG's Second Act.
Register: us02web.zoom.us/webinar/regi…
with:
@leee_harris from @FT,
@thisismichaelo from @L_Catterton,
Marian Macindoe from @Parnassus_Funds,
Jessica Whitt from @Barclays, and
@nolan_lindquist from CAS.
The Center for Active Stewardship retweeted
splice looks so cool, @active_stewards doing very interesting work!!
