Issue link: https://digital.shearman.com/i/1019978
Shearman & Sterling LLP Shareholder Proposal Season | 63 2018 Year-to-Date* 2017 2016 Proposal Type # Props. # Pass Avg. % in Favor # Props. # Pass Avg. % in Favor # Props. # Pass Avg. % in Favor Human Rights Policy 5 0 5.4 4 0 3.7 5 0 7.8 Sustainability as Perf. Metric 5 0 10.8 5 0 14.7 3 0 17.1 Assess Impact of "Two Degree" Scenario Report 4 2 47.1 15 3 45.1 9 0 37.1 Pay Disparity Report 4 0 16.8 17 0 13.0 7 1 13.9 Sustainability Report 4 1 33.1 4 1 38.0 7 0 28.2 Human Rights Report 3 0 15.6 2 0 15.4 2 0 25.1 Social Issues (Various) Policy 3 0 4.7 5 0 14.7 1 0 26.3 Charitable Contribution Report 2 0 2.1 5 0 2.9 – – – Climate Change Report 1 0 6.8 7 0 12.8 6 0 16 Energy Policy Report/Policy 1 0 29.4 4 0 24.7 8 0 27.9 Adopt Holy Land Principles – – – 11 0 3.1 8 0 3.9 TOTAL 111 4 N/A 172 4 N/A 150 4 N/A SHAREHOLDER-SPONSORED PROPOSALS — SELECT ENVIRONMENTAL, SOCIAL AND POLITICAL MATTERS (CONTINUED) *Through July 31, 2018. Select Environmental & Social Matters The number of proposals pertaining to environmental, social and political matters declined meaningfully in 2018 as compared to 2017, although similar to 2017 and 2016, four proposals received a majority vote in favor. In 2018, as was the case in 2017 and 2016, the greatest number of proposals related to political and lobbying expenditures. While none of these proposals have passed in the past three years, these proposals have averaged a 26.4% vote in favor over this period. Another noteworthy aspect of the 2018 proposal season was the level of support for "two degree" scenario proposals. While only four proposals were voted on in 2018 (compared to 15 in 2017 and nine in 2016), two of these proposals passed, compared to three of 15 proposals which passed in 2017.