• Gustavo Bernal Torres

Sustainable Voting Behavior of Asset Managers: Do They Walk the Walk?

Asset managers predominantly vote against social and environmental proposals. Especially, large and passive asset managers-

  • The authors investigate asset manager characteristics that influence ESG voting patterns using a decade of voting data with more than 20 million observations. Asset managers predominantly vote against social and environmental proposals. Especially, large and passive asset managers vote the least in favor of these proposals and despite the increased attention to sustainability integration, they hardly vote more in favor of these proposals than a decade ago. Moreover, signatories of the PRI do not vote more often in favor of environmental and social issues. Our results have important implications for investors striving for direct impact on the sustainability agenda of corporates.


Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3783454&mc_cid=5778a2a243&mc_eid=21a7907b85

0 comments

Recent Posts

See All

A green-finance boom has not been followed by bust. This year’s greenwashing scandals, and investors’ relaxed attitude towards them, have demonstrated an important truth: that there is money to be mad

Evidence from Environmental Integration and Sin Stock Exclusion. This paper shows how sustainable investing—through the joint practice of exclusionary screening and environmental, social, and governan