Fidelity May Back Climate Resolutions, a Milestone for Activists

Fidelity Investments may support shareholder proxy proposals calling on companies to report on sustainability matters this year, a major shift by the Boston asset manager as climate activists gain more traction at large U.S. corporations.

While Fidelity will generally vote as company managers recommend on environmental or social issues, "Fidelity may support shareholder proposals calling for reports on sustainability, renewable energy and environmental impact issues," states a new section of its proxy voting guidelines.

The guidelines were put in place in January for this spring's annual meeting season and have not previously been reported.

Fidelity spokeswoman Nicole Goodnow said Fidelity's new policy comes as client interest grows in how companies approach environmental, social, and governance issues.

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