The Proxy Advisers Are In Retreat

Unleash Prosperity has been vocal in criticizing the proxy advisor services ISS and Glass Lewis for the far-left agenda they’ve supported. The pressure has paid off. Glass Lewis has just declared that starting in 2027, it will be moving “away from a one-size-fits-all approach to a highly customized, client-centric framework.”

In other words, Glass Lewis will no longer be telling all of its customers how to vote on shareholder resolutions. Given Glass Lewis’ support for liberal causes, this is a HUGE victory.

Glass Lewis has felt the heat from UP and others. Last month, the Texas attorney general, Ken Paxton, announced an investigation of Glass Lewis and ISS for “potentially misleading institutional investors and public companies by issuing voting recommendations that advance radical political agendas rather than sound financial principles.”

The Glass Lewis retreat comes at a time when large financial firms are much less supportive of the ESG/DEI agenda than they were as recently as two years ago. All of this will be documented in the Unleash Prosperity report being released next week.

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