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ESG in Conversation: 2025 Proxy Season Review

Posted on December 18, 2025

Morningstar Sustainalytics
Morningstar Sustainalytics

 

 

Episode Summary 

Host: 

  • Melissa Chase, Senior Content Marketing Manager, Morningstar Sustainalytics 
  • Lindsey Stewart, CFA, Director, Institutional Investor Content, Morningstar

Guests: 

  • Angela Flaemrich, Director, Stewardship
  • Matteo Felleca, Analyst, Stewardship
  • Ignacio Garcia Giner, Senior Analyst, Stewardship 

Bonus Episode: 2025 Proxy Season Review 

In this episode, recorded earlier this year, Lindsey sat down with Angela Flaemrich, Matteo Felleca and Ignacio Garcia Giner from Morningstar Sustainalytics’ ESG Proxy Voting Overlay team to discuss their insights from the most recent proxy season. Insights from the discussion include: 

  • The decline in the number of sustainability-focused resolutions
  • Changes to the regulatory landscape
  • Increasing support for resolutions related to shareholder rights
  • Lower support for proposals related to climate and DEI issues

Key Moments  

00:00:04 

Introduction 

00:02:12 

Highlights on sustainability-related proposals from the 2025 proxy season.

00:04:55 

Insights on support levels for sustainability-related proposals.

00:08:31 

Insights on the changing topic mix in the 2025 proxy season.

00:11:12

Overview of climate proposal trends.

00:14:52

Overview of social proposal trends.

00:19:04

Thoughts on the 2026 proxy season.

Links to Select Resources

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