The pressure on companies to take a net zero pledge is building up on multiple fronts – employees, communities, activists. But the largest pressure point is coming from investors who are taking the pledge as well. Measured by AUM, almost half of the world’s asset management sector have committed to a net zero emissions target, the Financial Times reported this week. “Fund managers’ focus on net zero goals will have ramifications as investors are forced to look for cleaner investments to meet their climate targets,” the FT wrote.
Meanwhile, Box, Inc. outlined in a proxy filing and corresponding press release details of its contentious engagement with activist hedge fund Starboard Value, whose demands for improved performance and governance changes come nearly two years after it bought a minority stake in the company. The “Background of the Solicitation” section in the proxy offers key details of the back and forth between management and the activist – dialogue that ultimately broke down and forced a proxy fight.
Have a great weekend,
Mike and Jenn