January 2024

• “ESG” the acronym is out, but most investors continue to believe that companies with strong governance and sound management of environmental and social issues are better investments.

• Investors’ 2024 proxy voting policy updates confirm this: shifts in framing and tone, but few changes in priorities 
and substance.

• ISS held the line on policy in 2024, but their FAQs hint at subtle changes in how they’ll execute the policy.

• Tension within and around the shareholder proposal process is escalating.