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Msg  50324 of 50332  at  10/23/2021 12:51:56 PM  by

tigris72poo


 In response to msg 50311 by  chrispi
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Re: Exxon Lost a Climate Proxy Fight

 he is rehashing the obvious.  The really interesting issue for me is that not all institutional investors are the same.  Index funds are by definition passive.  They make a decision on what index they want to track but no claim that they will actively manage the components.  So  why should they have any say on how the company is managed?  I would suggest that index funds should be required to vote with management or abstain from voting alltogether.  If CALPERS or the Catholic Church or the Teachers Union Pension Fund want to influence company managements they should buy stock in the company and vote their shares.  If they buy an S&P Index fund, they own the market and should have no say on how Exxon runs its business.


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