Glass Lewis Pushes Back on Republican Criticism of ESG Advice (1)

Glass, Lewis & Co. on Tuesday responded to Republican criticism of the proxy voting advice it gives on ESG proposals, saying its recommendations on climate change and diversity proposals promote “the economic interest of shareholders.”

Republican attorneys general from 21 states including Texas, Utah and West Virginia sent a letter to Glass Lewis and Institutional Shareholder Services Inc. earlier this month that took aim at the firms’ proxy voting guidelines for the 2023 season. Many of the recommendations on environmental, social and governance issues aren’t material to investors and “may threaten the economic value” of their states’ investments and pensions, ...