1. Forget Shareholder Resolutions, Fund Manager Says: Hire Better Directors

    Forget Shareholder Resolutions, Fund Manager Says: Hire Better Directors

    (Reuters) - A Texas-based fund manager is not jumping on the bandwagon of peers backing shareholder resolutions that call on companies to take stronger action on climate change. Dimensional Fund Advisors argues it would be more effective to just replace corporate directors who fail to address the issue. Austin-based Dimensional backed just a tiny fraction of the climate-related shareholder resolutions tracked by Boston-based advocacy group Ceres last year...

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  2. Quotes

    1. Our overall philosophy is that we're trying to protect and enhance shareholder value.
    2. Dimensional needs to face the gravity of the systemic risk created by climate change.
    3. If shareholders are unhappy, they should be voting against directors.
    4. We vote against directors for reasons that we think are likely to contribute to insufficient oversight of E&S (environmental and social) risk such as a lack of independence, poor attendance, and serving on an excessive number of boards.
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