The 2026 proxy season is unfolding against a backdrop of regulatory uncertainty, shifting rules, and increasing political contention, particularly in the US, where recent SEC policy changes are reshaping shareholder proposal dynamics and creating new legal ambiguities.

This briefing highlights key forces that will shape stewardship activity in the year ahead, including the regulatory tug‑of‑war over ESG and DEI, continued investor engagement on climate and social risks, growing focus on board accountability and the use of director elections as escalation tools, the accelerating move toward virtual‑only AGMs, and renewed debates around executive pay structures.

This briefing was made available early exclusively to Minerva Analytics clients. Reach out to us by email at hello@minerva.info to find out what benefits being a client can offer.