Republicans in the US have revived their war on proxy advisers and say coverage of BHP and Woodside proves non-financial matters are being prioritised too much.
Two of Australia’s biggest companies, BHP and Woodside, have been put at the centre of a political campaign against proxy advisory firms in the United States.
The letter accused the two advisory firms of “elevating non-financial considerations over financial ones”, and asked them to respond in writing with “assurance that you will cease such violations and commit to following the law”. “Put another way, Glass Lewis faulted the company for not having a good enough plan to get its customers to stop buying its own product.
“It cannot be that alignment with the Paris Agreement provides 100 per cent of the financial value of any climate transition plan, particularly given the problems with that agreement.
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