NZI series: SEC’s ‘no-action’ requests
In this 3-part series, Net Zero Investor takes a deep dive into so-called 'no action requests' submitted to the SEC, which disclose a hidden side of engagement
Read the entire series by NZI head of research Atharva Deshmukh here today.
SEC ‘no-action’ requests: The issues companies don’t want to discuss
If and when public companies like Paccar wish to exclude a proposal from the shareholder meeting, they are required to disclose their intention to the Securities and Exchange Commission (SEC).
SEC ‘no action’ requests: the justifications
How do companies justify avoiding a climate-related shareholder proposal?
No-action requests: the SEC’s careful balancing act
Thus far, the SEC has primarily protected shareholder interests, making it harder for companies to avoid climate-related proposals