Developments of Shareholder Resolutions in Australia 2015--2024

This study documents the recent developments of shareholder resolutions in Australia over the past 10 years. We analyse the identity of proponents, featured issues, target companies, and voting outcomes. We highlight the following two observations: (1) There is a notable wave of ESG resolutions proposed by just a few nonprofit activist investors. They target large companies in a few major industries, but generally receive low support. (2) Resolutions regarding elections of directors are the most popular among other investors. They target small companies in a wide range of industries, and they tend to receive higher support.