What we have in our current state of Corporate Governance is Kabuki Theater.
I’ve gone on record saying that I don’t think divestment is the way to address our reliance on fossil fuels. Someone will buy up those divested stocks and they may not be as conscientious as the people who sold them. I just don’t see how this brings about change.
Since the passage of Dodd-Frank, in the summer of 2010, there has been a constant drumbeat from representatives of the corporate community, particularly the Business Roundtable and the U.S. Chamber of Commerce, regarding the need for an increased level of regulatory oversight focused on proxy advisory firms.