Reports & Analysis

When the Umpire Leaves the Field

Sustainability Reporting, Proxy Reporting

The 2025–2026 proxy season has introduced a significant shift in the governance landscape for U.S. public companies. In November 2025, the U.S. Securities and Exchange Commission (SEC) announced that it would no longer issue no-action letters related to most shareholder proposal exclusions under Exchange Act Rule 14a-8 for the current proxy season. This thought piece examines the evolving landscape following the SEC’s announcement, highlights early litigations, and provides recommendations to mitigate risks.

Beyond the Buzz: Practical AI Insights for Sustainability Teams

Sustainability Reporting

Labrador hosted a panel of AI experts to share where AI can be useful to corporate sustainability professionals. They busted some common AI misconceptions and gave practical recommendations on things to consider when using AI.

Communicating Changes in Sustainability Goals and Targets: Trends and Recommendations

Sustainability Reporting

U.S. companies have set sustainability-related goals and targets with frequency since the 1980s. Sometimes company-driven, sometimes stakeholder-driven, they have primarily shared them, along with progress toward achievement, in voluntary reports. Today, many U.S. companies are reevaluating their sustainability goals and targets. This piece explores evolving trends in communicating changes to sustainability goals and targets, especially those related to climate.

Shareholder Engagement

Proxy Reporting

Recent SEC guidance updates have triggered a "chilling effect" on shareholder engagement, silencing some institutional investor dialogue. Many institutions are in "listen-only" mode, pivoting companies to alternative forums to maintain connectivity. How will your leadership navigate this new regulatory reality? In our latest Proxy Trends thought piece, we reviewed public companies’ approaches to shareholder engagement in their 2025 proxy statements and outlined considerations for 2026.

Letters from Leadership

Proxy Reporting

Considering letters from Board leadership in your next proxy statement? Or wondering whether to switch up your current proxy letters? It's a good opportunity to focus on stakeholder messaging and performance accountability—particularly if your company has undergone an Executive change, proxy fight, or other significant corporate development in the past year. In our latest Proxy Trends thought piece, we break down how companies consider the Who, What, Why and How Many of these letters.

A Revamp of Risk Oversight Disclosures

Proxy Reporting

Risk oversight proxy disclosures have become increasingly standardized—but are they still telling the full story? Our latest Proxy Trends thought piece takes a look at how several companies are moving beyond the traditional framework to better reflect the connection between risk management, strategy, and sustainability. These evolving disclosure approaches rethink how long-term value, resilience, and competitiveness are communicated.

Director Skills

Proxy Reporting

Even the most qualified Board faces challenges—proxy battles, withhold campaigns, or concerns about company strategy and performance. So how do you ensure shareholders understand your directors' value—even before a challenge arises? Our latest Proxy Trends thought piece offers 10 ways to highlight directors’ skills, qualifications, and effectiveness to strengthen your proxy narrative.

ESG Disclosures

Proxy Reporting

Despite increased scrutiny, investors continue to prioritize ESG issues with clear financial implications—e.g., climate risk, human capital, and cybersecurity. This Proxy Trends report reviews 2025 environmental and social disclosures in proxy statements and offers insights on today's "State of Play."

Board Oversight of Political Activities

Proxy Reporting

Given their potential impact on long-term shareholder value, investors are increasingly seeking to hold companies accountable for their oversight of political contributions and public policy engagement. In this Proxy Trends piece, we examined 2025 political and public policy disclosures, offering guidance on approaches for 2026.

Executive Security Disclosure

Proxy Reporting

In the second installation of our weekly Proxy Trends series, we take a closer look at how public companies addressed executive security in their 2025 proxy statements.

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