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The joke of meritocracy, unhalted engagements at Blackrock, and Coca-Cola's DEI double down
Description
Introduction
LIVE from your ESG and DEI Teeth Bleaching Kit, it’s a Business Pants Friday Show here at February 21st Studios, featuring AnalystHole Matt Moscardi. On today’s weekly wrap up: Canada still cares, Rupert Murdoch knows how to text, the illusion of meritocracy, and an important new announcement from YouTube
Our show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.
Story of the Week (DR):
ESG Week MM
BlackRock and Vanguard halt meetings with companies after SEC cracks down on ESG
BlackRock resumes stewardship talks after reviewing new ESG guidance
Proxy vote support for ESG drops to record low in 2024
Clarification: ShareAction analyzed how 70 of the world’s largest asset managers voted on 279 ESG shareholder resolutions during the 2024 proxy voting season:
In 2024, only four (1.4%) out of the 279 resolutions we assessed received majority support, less than half of the percentage that gained a majority vote in 2023 (3%), and far lower than the 21% which passed in 2021.
This is reflected in an ongoing downward trend in the average percentage support that these resolutions received, which was 20.6% in 2024 compared to 40% in 2021.
Vanguard, the world’s second largest asset manager, performed the worst of all the managers we assessed, voting in favour of 0% of shareholder proposals.
Top 26 all in Europe
1 GenAM (Italy) 98
2 BNP Paribas Asset Management (France) 97
3 PGGM Investments (Netherlands) 97
28 Federated Hermes (top in US) 80
BlackRock at #67 with a score of 5; Vanguard to out of 70 with a 0.
Tesla Targeted With Worldwide Protests, Vandalism
Tesla showrooms are being hit by a wave of anti-DOGE protests
Sheryl Crow says goodbye to her Tesla and donates to NPR: 'You have to decide who you are willing to align with'
Sign That Says “We Hate Him Too” Appears in Window of Tesla Dealership
Economist Warns That Elon Musk Is About to Cause a "Deep, Deep Recession"
Jesse Rothstein, DOL's chief economist at the start of the Obama administration: "This is going to be very, very bad."
James Murdoch lays bare his relationship with ‘misogynist’ father amid succession fight in rare interview
The interview, published in the Atlantic, reveals J