ISS, Glass Lewis Dismiss Republican Lawmakers’ ESG Agenda Claims

ISS and Glass Lewis executives on Thursday challenged Republican concerns that the proxy advisory giants foist ESG policies on companies, telling lawmakers they give objective recommendations to shareholders voting at annual meetings.

The proxy firms provide pension funds and other large investors information they can use, or ignore, when deciding how to vote on environmental, social and governance topics, Steven Friedman of Institutional Shareholder Services Inc. and Eric Shostal of Glass, Lewis & Co. told House lawmakers. Their remarks came amid recent criticism of the proxy firms’ influence by Republican state attorneys general, state treasurers and other ESG skeptics. ...