During the 2022 proxy season, activist shareholders frequently used ESG themes in proxy contests and other shareholder activism campaigns. The ESG issues they raised often resonated with investors even if they were not outcome determinative. Companies should review their ESG profile with shareholder activism in mind as ESG deficiencies can create significant vulnerabilities in defending against proxy contests and other shareholder activism campaigns. To assist companies in conducting such review, we have prepared the following client alert on ESG Themes in 2022 Shareholder Activism Campaigns.
