June 9 Reuters Shareholder support for proxy resolutions on topics including climate change and workforce diversity dropped significantly this spring, analysts said, as tough proposals from activists met with growing political pressure on fund firms39; voting.

Halfway through the shareholder annual meetings of Russell 3000 companies, average support for voted resolutions on environmental issues was 25 through midMay, compared with 38 for all the prior proxy season ended June 30, 2022, and 43 for all of the prior year, according to shareholder engagement firm Georgeson.

Support for resolutions on social issues fell to 20 this year so far, from 26 in 2022 and 33 in 2021, Georgeson said.

We39;ve seen a dampening effect, said Georgeson Strategist Kilian Moote, since the drop in supports often reflected resolutions asking for steps investors deemed too burdensome.

He declined to discuss specific companies, but his description fit results like at major U.S. banks that defeated calls to wind down financing for major fossil fuel projects. At the same time, compromises with ESG advocates show executives still care about sustainability matters.

For instance, companies including Ford and eBay agreed to report more workforce details such as recruiting and retention rates in deals that led shareholder activist group As You Sow to withdraw resolutions before they were voted, said its CEO Andrew Behar.

Ford declined to comment. eBay did not return messages.

Behar added that new…