Co-filing resolutions
Co-filing a resolution may sound boring, but it is one of the most effective campaign tactics at our disposal. By using shareholder resolutions we’ve moved some of the biggest companies and banks on the issues that matter! But we can’t do it without you.
Resolutions in a nutshell
Companies have shareholders. They each own a tiny piece of the pie – and this includes our pension funds. Each year, these shareholders are invited to a company’s annual general meeting (AGM) to make decisions about the future.
That’s where we all come in. Collectively, we buy shares and then decide what we want to the company to do (a resolution) before submitting it (co-filing) to be discussed at the AGM. This could be asking a company to pay its staff a living wage, or to pull investments out of fossil fuels.
Now, this all might sound a bit complicated, but it is surprisingly simple – and incredibly rewarding.
Involvement in Shareholder Resolutions is one of the greatest impacts I have been able to have. Outside of my purchasing choices, I have little way to ask these big, wealthy multinationals to improve. ShareAction gave me an outlet for my voice, my desire to see companies improve and meet the needs of society and the planet.
David
Individual co-filer at Tesco and HSBC
What impact can this have?
Together we can amass loads of power.
In 2020, we demanded Barclays end fossil fuel investments – and 34 per cent of shareholders backed us. This was a big win. It meant Barclays has to answer to its investors on this important topic – and it sent shockwaves through the banking sector.
In 2021, we did it all again. This time we focused our attention on demanding that HSBC pull out of fossil fuel investments and that Tesco set targets on healthy food sales. And it worked: both companies accepted the majority of our asks before the vote even took place! When companies feel pressure from shareholders, they know they need to act.
This year, we've gone even bigger. With the help of hundreds of individuals we've been able to co-file four resolutions this year, on climate change, health, and for the first time the Living Wage.
How to get involved!
To file a resolution, we need at least 100 shareholders. The great thing is you only need to own one share to be a shareholder. This means that by owning one share in a company, you can co-file with us and demand action on critical issues such as climate change, workers' rights and health. We’ll also be working to get some large institutional investors onboard to ensure we can co-file with extra clout.
