Institutional Shareholder Services Inc. (ISS), the leading provider of corporate governance and responsible investment solutions to the global financial community, today released its 2021 European Voting Results Report, the fourteenth of an annual report series that ISS started in 2008.
The report draws on ISS’ rich data and research expertise, to document and explain current and longer-term trends of voting outcomes at shareholder meetings across Europe.
Georgina Marshall, Managing Director, Global Head of Research at ISS said: “The ISS 2021 European Voting Results Report documents significant trends this year including increased shareholder voting dissent in Europe in 2021, particularly on remuneration reports, as well as an increase in management-proposed votes on climate strategies”.
- At the European level, the proportion of management proposals recording significant free float dissent increased from 8.5 percent in 2020 to 8.9 percent in 2021.
- Average voting dissent on remuneration reports increased in 2021. Signs of such increased dissent were observed in all markets experiencing votes on remuneration reports for the second time or more.
- The proportion of share plans recording significant free float dissent reverted to the level of 2019 as many companies begin to move past pandemic-related uncertainty.
- Thirteen companies gave management-proposed votes on their climate strategies in 2021. The number of climate-related shareholder proposals as well as levels of support have grown over the past 3 years.
- The number of companies receiving climate-related shareholder proposals was fairly stable, although the number of companies targeted by shareholder proposals overall rose to 28 in 2021, from 24 in 2020.
To download a copy of the full report, please click here.
Founded in 1985, Institutional Shareholder Services group of companies (ISS) empowers investors and companies to build for long-term and sustainable growth by providing high-quality data, analytics and insight. ISS, which is majority owned by Deutsche Börse Group, along with Genstar Capital and ISS management, is a leading provider of corporate governance and responsible investment solutions, market intelligence, fund services, and events and editorial content for institutional investors and corporations, globally. ISS operates on an arm’s-length basis and Deutsche Börse has adopted Principles protecting the independence and integrity of ISS’ research offerings. ISS’ 2,000 employees operate worldwide across more than 30 global offices in 15 countries. Its more than 4,000 clients include many of the world’s leading institutional investors who rely on ISS’ objective and impartial ESG and governance research, market intelligence and fund services and data and analytics, as well as public companies focused on ESG and governance risk mitigation as a shareholder value enhancing measure. Clients rely on ISS’ expertise to help them make informed investment decisions.
Sarah Ball, Executive Director