A new survey by Ceres, an advocate for sustainability leadership, gives a pat on the back to three fund companies for supporting the majority of shareholder resolutions filed with companies on climate change and a slap on the hand to six others for not supporting a single resolution.
“Too many mutual fund managers still fail to grasp the risks that climate change poses to companies they invest in,” Mindy Lubber, president of Ceres, which commissioned the analysis by Jackie Cook of FundVotes.com, said in the release.
Ceres noted that BNY Mellon, Franklin Templeton, ING, Pioneer, Putnam Investments and Vanguard Group have not supported a single resolution on climate change.
“But it’s encouraging to see DWS, AllianceBernstein, and Oppenheimer acting on their fiduciary duty by voting in the best interest of their clients on these resolutions. While shareholder support for climate resolutions averaged around 22% last year, 14 votes were above 30%, indicating growing awareness of these important risks and opportunities.”