We are beyond grateful to all of you who registered to attend our celebratory fundraising event on Wednesday, Dec. 11th! ?? If you haven’t yet registered, we’d love to have you join us for a celebration of the legacy of our founding Executive Director, Eli Kasargod-Staub, CFA, and our new Executive Directors, Whitney Shepard and Bryant Sewell. We're honored to have Brad Lander, New York City Comptroller, Josh Zinner, ICCR Executive Director, Laura Campos, The Nathan Cummings Foundation Senior Director of Economic Justice, and Stephone Coward II, Hip Hop Caucus Economic Justice, Justice Paid in Full Campaigns Director, give remarks, and to welcome Majority Action’s board members, Nadira Narine and Renaye Manley, MBA as the event’s co-hosts. Please RSVP and invite your friends! https://lnkd.in/gQCC3svZ
Majority Action
民间和社会团体
Empowering shareholders to hold corporations accountable to high standards of governance & social responsibility.
关于我们
Majority Action empowers shareholders to hold corporations accountable to high standards of corporate governance, social responsibility, and long-term value creation.
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https://majorityact.org
Majority Action的外部链接
- 所属行业
- 民间和社会团体
- 规模
- 11-50 人
- 总部
- Remote
- 类型
- 非营利机构
地点
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主要
获取路线
US，Remote
Majority Action员工
动态
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Last Friday, Majority Action released our 6th annual Climate in?the?Boardroom?report, which analyzes?the?climate proxy voting of?the?four largest asset managers during?the?2024 shareholder season. The?report examines how?the?Big Four asset managers voted on climate shareholder proposals and key climate director elections, takes?a?deeper dive into?the?climate voting performance of their ESG-marketed funds, and looks at?the?divergence between?the?ten largest public pension plans and?the?two largest asset managers of defined benefit assets. Divya Sundar, our Director of Research, is the primary author of the report. Click here to download a copy: https://lnkd.in/gj_ZgJXb The report shows that the Big Four asset managers (BlackRock, Fidelity, State Street, and Vanguard) as well as Geode, which manages Fidelity's index funds, are failing when it comes to leveraging their proxy voting power to adequately mitigate systemic climate risk at climate-critical, U.S.-based companies. The report calls on all investors to strengthen their proxy voting policies and use their proxy votes to hold issuers accountable for aligning their target-setting, capital allocation, and policy influence to pathways that limits global warming to 1.5°C. Whitney Shepard and Bryant Sewell, Majority Action's Co-Executive Directors, state, “If we want to address the systemic crises we face at their root, we need our capital to work with, not against us. Our Climate in the Boardroom report is a tool for anyone who is trying to make sense of why we are failing to see real progress on climate action and economic transformation.” Please read their op-ed here: https://lnkd.in/ggKa7nWS
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This Friday, Majority Action is hosting a webinar to launch the 6th annual edition of Climate in the Boardroom! RSVP here: https://lnkd.in/gYTTzRDP Our forthcoming report examines how the Big Four asset managers voted on climate shareholder proposals and key climate director elections, takes a deeper dive into the climate voting performance of their ESG-marketed funds, and looks at the divergence between the ten largest public pension plans and the two largest asset managers of defined benefit assets. Majority Action’s Director of Research and primary author of Climate in the Boardroom, Divya Sundar, will take us through a deep dive of the report’s key findings and recommendations. There will also be an opportunity to ask questions and learn more about how to use this report at your institution as well as with your asset managers.
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Check out this important new resource by Americans for Financial Reform - Roadmap To Protect Public Pensions How States Can Fight Back Against Federal Attacks As Majority Action Co-Executive Director Bryant Sewell reminds us: “When an unchecked administration is poised to dissolve the regulatory guardrails that protect long-term sustainable value creation, public pension funds must not retreat. Rather, they must exert increased scrutiny over capital market actors and confront the concentrated power of the largest asset managers who operate as unappointed quasi-regulators of governance standards. We will win when public pension funds — the foremost stewards of the people’s capital — harness their collective power as clients to demand that asset managers live up to their fiduciary duties to long-term investors." Real world application of this report by AFR, which provides a roadmap for states to protect pensions from federal threats, is key to protecting ourselves and our futures.
Public pensions are under attack. Proponents of austerity want to shrink government and government spending, undermine the retirement security of hard-working public employees, and make public sector jobs less attractive. In the last few years, there have been escalating attacks targeting not just the availability of pension benefits, but also on how pensions invest workers’ retirement savings. For more on the threats to public pensions and the opportunities state policymakers and pension officials have to protect them, read our new report: “Roadmap to Protect Public Pensions: How States Can Fight Back Against Federal Attacks. https://lnkd.in/gaNzQG64
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We applaud Walmart investors who are expressing their concern after the company's decision to dismantle many of its Diversity, Equity, and Inclusion (DEI) initiatives and commitments. As signatory Caroline Boden puts it plainly, "From both a moral and a financial perspective, [...] inequity is bad for business and, ultimately, investors." Be sure to check out and support the efforts being led by the Interfaith Center on Corporate Responsibility (ICCR), below!
Corp DEI initiatives are essential to breaking down systemic inequities and good for business. Investors urge Walmart $WMT to ignore political and online bullies and manifest its goal to foster “belonging, diversity, equity and inclusion”. The letter states "Walmart has sent a clear signal to all underrepresented and marginalized groups that Walmart will not fight to protect their rights. In a time when there are threats to the rights of the LGBTQ+ community, threats of mass deportation of migrants, in addition to potential policies that may disproportionately harm people and workers of color, who make up over half of Walmart’s workforce, and low-income communities, it is imperative for Walmart to remain committed to its stated values of fostering a sense of belonging for everyone.” Read the letter: https://bit.ly/3Pz3CZ9
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Please check out Reclaim Finance - ONG's new assessment that reveals how asset managers are supporting fossil fuel expansion and using their clients' money to fuel the climate crisis. We echo the call to asset owners to actively engage with and hold their asset managers accountable for mitigating the systemic risk of climate change.
?? How do asset managers use their client's money to fuel the #climate crisis? Through mandates, #AssetManagers are entrusted by their clients — asset owners, including pension funds — to make #investment decisions on their behalf and to carry out climate-related stewardship. As long-term investors, asset owners are particularly vulnerable to climate risks and rely on asset managers to address these risks. But are asset managers truly aligned with the interests of asset owners and the climate? That’s what we investigated in our latest assessment, which closely examines the practices of 25 of the biggest European and US asset managers, such as Amundi, Allianz Global Investors, UBS Asset Management and DWS Group. Here’s what we found: 1?? Asset managers are supporting companies developing their fossil #fuel production, disregarding both the long-term interests of the asset owners who entrust them with their money, and the 1.5°C target for limiting global temperature rise. 2?? At least US$7.3 billion of pension fund and other asset owners’ money was invested in bonds issued between 1 January 2023 and 30 June 2024 by fossil fuel developers. 3?? In 2024, asset managers voted in favour of 79% of resolutions approving the actions of the boards of directors of fossil fuel developers, overwhelmingly re-electing directors that are accountable for climate-wrecking plans. ? Two asset managers stood apart among the others: ??Union Investment voted against 80% of resolutions which sought approval of the actions of the boards of directors.? ??BNP Paribas Asset Management recently committed to stop investing in bonds issued on the primary market by oil and gas exploration and production companies. But they both still have much room for improvement. ?? It’s time for asset owners to actively engage with asset managers and stop entrusting new mandates to those that overwhelmingly support fossil fuel expansion!
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[Friendly reminder] ?? Today, from 3-4 pm ET, we are hosting our celebratory online fundraising event Majority Action: The NEXT Chapter. You can still register until 2 p.m. ET! We would love to have you join us – please RSVP here: https://lnkd.in/gQCC3svZ??
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?? Majority Action: The NEXT Chapter is ONE WEEK AWAY! Are you coming? Be sure to save your spot at Majority Action’s upcoming celebration, on December 11th from 3-4 pm ET, followed by a happy hour from 4-4:30 pm ET! We are thrilled to gather with our colleagues, supporters, and friends around a transformative vision for a just, prosperous, and sustainable economy for all. Join us as we celebrate our new Executive Directors, Whitney Shepard and Bryant Sewell and the legacy of our founding Executive Director, Eli Kasargod-Staub, CFA! We're also honored to have Brad Lander, New York City Comptroller, Josh Zinner, ICCR Executive Director, and Laura Campos, The Nathan Cummings Foundation Senior Director of Economic Justice, give remarks. Save your spot and help us spread the celebratory word by clicking and sharing the link below! https://lnkd.in/gQCC3svZ
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ICYMI- Walmart just became the largest company to roll back its diversity, equity and inclusion initiatives. It should be noted that just earlier this year a worker-backed racial equity audit shareholder proposal at Walmart garnered the support of nearly 35% of non-insider shares. Walmart opposed the proposal, and argued that a racial equity audit was unnecessary because the company already had appropriate DEI structures and policies in place, touting among other things its Center for Racial Equity, a $100 million pledge it made after the 2020 police killing of George Floyd. Yet on Monday, we learned that Walmart is choosing not to renew its commitment to the Center for Racial Equity, that it is ending its supplier diversity program, and that it is withdrawing from a prominent gay rights index that measures workplace inclusion for LGBTQ+ workers. Walmart is the largest private employer in the United States and the largest private employer of Black workers. More than half of its hourly workers are people of color. As detailed by organizations like Majority Action and United for Respect, Walmart has been involved in numerous controversies regarding racial discrimination, bias, and poor human capital management. Investors should be concerned: these practices pose material risks to Walmart, which relies heavily on Black and Brown hourly workers to generate value. Walmart’s reneging on DEI should alarm investors and other stakeholders, not just because it amplifies the material risks associated with systemic racism and poor human capital management, but also because it reveals the unreliability of the company’s commitments. ? Racial equity and civil rights are not partisan issues. They should be part of the fabric of any political party, institution, and corporation – particularly at companies like Walmart that wield such massive influence on our society and economy. Corporations and shareholders have a choice in this moment: Make decisions that help usher in a tomorrow that we all deserve and belong to, or take us backwards and threaten our ability to build towards a brighter, more prosperous future. https://lnkd.in/drtje4CU
Walmart becomes latest — and biggest — company to roll back its DEI policies
apnews.com
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[ICYMI] On Wednesday, December 11th, we are hosting a virtual fundraising event to celebrate the legacy of our founding Executive Director, Eli Kasargod-Staub, CFA and welcome our new Executive Directors, Whitney Shepard and Bryant Sewell! We invite you to join our celebration and come together around a shared vision of prosperity and environmental sustainability for all as we move forward. If you haven’t already registered, please reserve your spot and share the link with your friends: https://lnkd.in/gQCC3svZ
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