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Boston Common Asset Management has published its Active Shareowner Update for Q1 2026, covering four themes shaping its stewardship practice. The update examines corporate sustainability disclosure as a structural rather than cyclical trend, the role of proxy voting in reinforcing governance accountability, investor responsibility questions raised by AI use in armed conflict settings, and climate engagement as a risk analysis tool for the engaged investor. Together the four pieces illustrate how Boston Common is adapting its engagement approach as regulatory and political dynamics shift around disclosure and climate action. Read the full update at the link below.

InfluenceMap has published new research examining how the fossil fuel industry has deployed a coordinated playbook of misleading narratives linking fossil fuels to global energy security, in the wake of the wars in Ukraine and now Iran. The research finds this strategy is not merely opportunistic: internal documents show that by 2021 the fossil fuel industry had predicted a "black swan event upending the global political agenda" in the first half of the decade and had prepared narrative and lobbying responses in advance. The analysis maps the scope and coordination of this campaign and provides investors with context for identifying and challenging fossil fuel narratives in their engagement and stewardship activities. Read the full report at the link below.

##### Focal points - Decarbonisation and climate action — 33.3% absolute Scope 1 and 2 emissions reduction since 2020; targets: −50% by 2030, GHG neutrality Scope 1 and 2 by 2040, net zero Scope 1–3 by 2050 - Access to healthcare and patient reach — 450 million patients reached in 2025 through essential medicines, medical devices and nutritional therapies; 27 million patients treated at Helios hospitals - Employee engagement and development — Employee Engagement Index 4.14 in 2025 (up from 4.02 in 2024); 19.3 average training hours per employee (+10.3% vs 2024); workforce 178,583 with 67% women ##### Parameters - Data to: 31 December 2025 - Published: Early 2026 (d — no explicit publication date in document; data to 31 December 2025; consistent with concurrent publication of Fresenius Annual Report 2025) - Materiality Matrix: None found in this document (Highlights Magazine; full materiality assessment in the Fresenius Sustainability Statement 2025) - ESG Data Centre: https://report.fresenius.com/2025/ (interactive online sustainability/annual report; detailed KPIs and targets in audited Sustainability Statement 2025)

Sustainalytics argues that capex allocation — not net zero targets or climate disclosures — is the most reliable signal of corporate transition credibility. The report links corporate capital expenditure decisions directly to real-world climate outcomes, examines where the visibility gap beyond 2030 is leaving concentrated risk underpriced, and provides a framework for distinguishing companies genuinely on a credible transition pathway from those that only appear to be. Essential for investors stress-testing the transition credentials of portfolio companies.

[Selected by Mike (54) | Summarised by Sonnet 4.6 | Human-directed; AI-powered]

Focal points of the report

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• UK Stewardship Code disclosure covering the 12-month period to 31 December 2024, setting out EdenTree’s sustainable investment approach and stewardship framework.
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• Highlights enhancements to engagement tracking and reporting, and sets thematic engagement priorities including a Just Transition, Climate Transition, Water Stress, Social and Financial Inclusion, and (new) Good Governance.
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• Summarises 2024 voting activity: 5,106 proposals eligible, 99.8% voted, 87% supported, 11% opposed, across 328 meetings (249 meetings with at least one vote against management).
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• Describes escalation practices including pre-declaring votes on the PRI Resolution Database and publishing refreshed Corporate Governance and Voting Policy.
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Sustainability issues of focus

The following sustainability issues feature significantly within this report:

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• Just transition
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• Climate transition
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• Water stress
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• Social inclusion
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• Financial inclusion
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• Good governance
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Sector of focus

The following sectors issues feature significantly within this report:

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• Information Technology
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• Health Care
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• Financials
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• Real Estate
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• Industrials
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Engagement highlights

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• Enhanced stewardship reporting via a proprietary engagement tracking and research database to increase transparency on objectives, timelines, progress and outcomes.
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• Added Good Governance to core thematic engagement priorities, alongside Climate Transition, Water Stress, and Social and Financial Inclusion themes.
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• Continued to pre-declare voting intentions publicly via the PRI Resolution Database as a form of escalation.
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• Reported achieving five stars across all modules in the latest PRI assessment for responsible investment signatories.
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Other content of note

In addition to the points noted above, this report addresses:

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• Published a Diversity & Inclusion policy and commitment in 2024, including targets and monitoring against progress.
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• Provides ‘votes of interest’ examples linked to thematic priorities, including AI-related shareholder proposals at Apple, Alphabet and Microsoft.
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• Describes partnerships and collaborative initiatives used to raise standards and support collective action.
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• Explains the firm’s investment beliefs and how engagement and voting are used throughout the investment process.
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Data points

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• Publication date: Not clear
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• Period covered: From 01-01-2024 to 31-12-2024
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