Andrew Freedman Quoted in WSJ on the Prevalence of Socially Responsible Shareholder Activism
Co-Head of Olshan's Shareholder Activism Practice Andrew Freedman was quoted in Wall Street Journal (subscription required) on activist investors’ growing drive to improve their target companies’ ESG practices. “ESG is so top-of-mind right now throughout the investment world, but with the exception of board diversity, we have yet to really see the E and S be the center of an activism campaign,” Mr. Freedman commented. “In the next year,” he predicted, “we believe we’ll see campaigns where those factors are front and center.” Indeed, individual investors have already infused billions of dollars into funds prioritizing issues like sustainability and diversity, while larger institutional investors have highlighted their commitment to ESG issues in various ways. Emphasizing a concern for ESG issues could, some believe, help activists gain the support of these big funds while ignoring them could prove detrimental down the road.