Proposed ISS Benchmark Policy Changes for 2022
Today, Institutional Shareholder Services Inc. (“ISS”) announced the launch of its 2022 Benchmark Voting Policy comment period. ISS is soliciting input from market participants on proposed benchmark policy changes, effective for shareholder meetings taking place on or after February 1, 2022. The comment period will remain open until 5:00 PM ET November 16, 2021, and ISS anticipates releasing its final benchmark policies at the end of November.
For the North American markets, ISS proposes the changes below covering: (i) board diversity, (ii) unequal voting rights, (iii) board accountability on climate, (iv) management endorsed Say-on-Climate proposals, (v) Say-on-Climate shareholder proposals, and (vi) shareholder responsiveness for Say-on-Pay proposals.