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Shareholder support for ESG proposals crumbles at U.S. companies

BlackRock CEO says the word has become 'entirely weaponized'

Shareholder backing for environmental proposals has fallen at U.S. companies this year.   © Reuters

TOKYO -- Shareholder support in the U.S. for environmental, social and governance proposals has dropped as demands for corporate action grow more divisive, with critics pointing to politicization of the ESG investment concept.

ESG proposals submitted to American companies this year through June 12 drew an average support of 21.5% from shareholders, down 7.8 percentage points from the full year of 2022 and the lowest rate since 21.3% in 2016, the U.S.-based nonprofit Sustainable Investments Institute reports.

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