British investors have taken a strong stand on environmental and governance issues, which has led to increased shareholder activism.
Thomson Reuters data shows that revolts against the reappointment at FTSE 350 business directors have risen by 41%, from 30 in 2020, to 42 this past year.
On the rise: Major revolts against the reappointment of directors at FTSE 350 businesses have climbed by 40 per cent
In total, 24 of the directors were members or chairmen of remuneration committees – suggesting shareholders are paying closer attention to over-generous pay deals.
Meanwhile, the 94% vote at FTSE 350 for companies’ 2020 pay reports fell to 91.6 percent this year.
Environment issues were also prominently addressed, with sixteen climate-related shareholder resolutions filed in 2021 as opposed to five the previous year.
Thomson Reuters’ Hilary Owens Gray stated that “Those in charge of the UK’s biggest companies are being scrutinized more closely.”