Glass Lewis’ 2024 Proxy Season Preview for Continental Europe provides an overview of market-specific trends impacting proxy voting, and explains how our updated Benchmark Voting Policy will be applied.

Key highlights from our report: 

• Changing stewardship & oversight landscape: In the 2024 proxy season, European investors and corporate boards will navigate an unpredictable landscape. Shareholders should carefully consider whether their current investment and stewardship approach accounts for the cost of capital and changing inflation-associated risks. 
• ESG and non-financial reporting: Clear communication between European companies and investors, especially on sustainability-related matters, is more important than ever. Meeting SFDR requirements has further sharpened many European investors’ ESG-related views and expectations from the companies in their portfolios. 
• Remuneration: Boards are raising concerns around the ‘Transatlantic Pay Gap’ and fears of losing experienced executives to U.S. peers.  We expect a high level of investor scrutiny on salary increases and retention packages, especially where a company has failed to provide compelling rationale.