This Minerva Analytics briefing looks at voting trends and shareholder dissent at the UK’s largest 350 companies in the first half of the 2021 voting season. We identify companies receiving more than 20% dissent together with long-term trends in dissent, as well as examining resolution outcomes, shareholder proposals and wider environmental, social and governance (ESG) trends.  

The coronavirus pandemic has caused severe economic and social costs globally and the world and business landscapes have changed. Consequently, boards and investors are facing new and challenging decisions. The impact of the coronavirus crisis also presents an opportunity for businesses to focus on their ESG impact and performance.

Regulatory and good practice frameworks are encouraging investors to become more engaged than ever on a range of ESG issues and many investors have ramped up their marketing efforts to demonstrate alignment. What is not yet clear, however, is how far have these recommendations have filtered down into active ownership programs and been reflected in shareholder voting outcomes.