This proxy update highlights key voting outcomes from the past few weeks of the 2026 proxy season and assesses key developments for the week ahead.

In March 2026, Minerva submitted a formal response to the FCA’s consultation paper CP25/34, which for the first time would bring ESG rating providers within the UK regulatory perimeter.

Germany has abruptly narrowed its “acting in concert” standard after a rebuke from the Court of Justice of the European Union.

On 27 May, ExxonMobil shareholders will vote on a ballot that includes a proposal to redomicile the company from New Jersey to Texas.

Disney shareholders rejected all proposals from anti‑ESG proponents at its 2026 AGM, with neither clearing 5% support.

The Interfaith Center on Corporate Responsibility (ICCR) and As You Sow have filed a lawsuit against the US Securities and Exchange Commission (SEC) challenging the controversial overhaul of its ‘no action’ request process adopted in November 2025.

The Coca-Cola Company appears to have filed no ‘no action’ requests for the first time since 2020 despite changes from the US Securities and Exchange Commission (SEC) giving companies greater power to exclude shareholder proposals.

A proposal from ExxonMobil to shift its legal domicile from New Jersey to Texas lands at a moment when shareholder proposals have all but disappeared from its annual meetings and the company has introduced new structures that reshape how shareholder votes are cast and counted.

Shareholder advocacy group As You Sow has launched a lawsuit challenging the exclusion of a climate-related shareholder proposal at international insurance company Chubb.

US telecommunications giant AT&T has U-turned on its decision to exclude a diversity, equity and inclusion-focused (DEI) shareholder proposal from its 2026 proxy materials following a lawsuit from investors.

Shareholders have sued US telecommunications giant AT&T for excluding a DEI-focused proposal as heightened risks created by the US SEC’s change in approach to ‘no action’ requests are highlighted.

Amazon looks set to exclude at least seven shareholder proposals from its 2026 proxy statement without formal assent from the US Securities and Exchange Commission

Disney has revealed that three shareholder proposals from anti-ESG proponents will be voted on at its 2026 AGM amid concerns over litigation should resolutions be excluded following controversial changes to the ‘no action’ process.

Major shareholders have stressed concerns to the SEC about significant changes to the use of its EDGAR filing platform and exempt solicitation notices, as well as other developments that undercut shareholder rights.