The SEC has closed its investigation into Climate Action 100+ members without charges, but its accompanying warning may have a far greater impact on investor stewardship.

Goldman Sachs’ SEC approval suggests standing retail voting instructions are shifting from corporate experiment to a new source of influence over US shareholder votes.

ExxonMobil’s move to Texas may have passed comfortably on paper, but the near‑30% dissent highlights deep investor unease about how voting structures can shape governance outcomes.

As the 2026 proxy season moves past its peak, this week’s AGMs reinforce familiar patterns. Shareholder discontent is evident across pay, climate and governance votes, but formal outcomes continue to diverge sharply from sentiment.