High times for climate change resolutions by Australian companies

Corporate support for environmental, social and governance (ESG) is on the rise, with climate change resolutions put forward in Australian companies increasing in number prominence and impact.

A record 36 shareholder ESG resolutions were put forward in 2020. So far in 2021 a further 20 have been put forward, with more expected, The Conversation reports.

Until last year the level of support garnered by shareholder ESG resolutions was small, averaging 9.7%. In 2020, support jumped to 14.7%.

In 2021 to date it has climbed to 28%, bolstered by two resolutions of Rio Tinto shareholders that attracted 99% after winning the support of Rio Tinto’s board.

Investment in environmental, social and governance (ESG) is expected to grow to a US$53 trillion industry in just four years.

ESG investing has evolved into a US$35 trillion industry today since it first drew attention in a United Nations report back in 2005.

Bloomberg reports ESG investments in global funds will top US $53 trillion by 2025.

Go to The Conversation website to read more about ESG resolution growth in Australia and the growth in sustainability investments.

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