Special Reports

Every year Glass Lewis produces special reports on a range of environmental, social and corporate governance issues.

Clients can download all reports without charge from Viewpoint or GlassLewis.net, or send an email request to Client Services.  If you are not already a Glass Lewis client, you can submit a purchase request by clicking the appropriate button below.

2017 Proxy Season Review: France Vote Analysis (Compensation Proposals)

Glass Lewis’ proxy season reviews provide perspectives on the recent proxy season in each region. This report focuses on remuneration voting in France in the first season after the introduction of binding votes, with discussion of structural, disclosure and voting trends, pay quantum, and Glass Lewis’ vote recommendations.

Request Report

2017 Proxy Season Review: North America Vote Analysis (Director Elections)

Glass Lewis’ proxy season reviews provide perspectives on the recent proxy season in each region. This report focuses on voting trends on director elections in the United States and Canada, including discussion of failed directors, and Glass Lewis’ vote recommendations.

Request Report

Shareholder Activism in Italy

Highly-concentrated ownership has historically served to insulate major shareholders in Italian companies from minority actions, but the growing participation of foreign institutional investors is challenging the old structure. This special report examines the state of investor activism in the Italian market, including regulatory framework, the tools available to institutional shareholders and activists, and defences deployed by Italian companies.

Request Report

2017 Proxy Season Review: Japan

Glass Lewis’ proxy season reviews provide perspectives on the recent proxy seasons in each region, with a focus on insights and case studies relating to board elections, executive pay, ESG practices, shareholder activism, stewardship and engagement, and other notable trends.

Request Report

2017 Proxy Season Review: East Asia ex-Japan

Glass Lewis’ proxy season reviews provide perspectives on the recent proxy seasons in each region, with a focus on insights and case studies relating to board elections, executive pay, ESG practices, shareholder activism, stewardship and engagement, and other notable trends.

Request Report

2017 Proxy Season Review: Southeast Asia

Glass Lewis’ proxy season reviews provide perspectives on the recent proxy seasons in each region, with a focus on insights and case studies relating to board elections, executive pay, ESG practices, shareholder activism, stewardship and engagement, and other notable trends.

Request Report

2017 Proxy Season Review: North America Case Studies

Glass Lewis’ proxy season reviews provide perspectives on the recent proxy seasons in each region, with a focus on insights and case studies relating to board elections, executive pay, ESG practices, shareholder activism, stewardship and engagement, and other notable trends.

Request Report

2017 Proxy Season Review: U.S. Shareholder Proposals

This review focuses specifically on shareholder proposals brought at U.S. companies during the 2017 season, with an eye toward notable meeting results, relevant data, and general developments in ESG practice.

Request Report

2017 Proxy Season Review: United Kingdom

Glass Lewis’ proxy season reviews provide perspectives on the recent proxy seasons in each region, with a focus on insights and case studies relating to board elections, executive pay, ESG practices, shareholder activism, stewardship and engagement, and other notable trends.

Request Report

2017 Proxy Season Review: Europe

Glass Lewis’ proxy season reviews provide perspectives on the recent proxy seasons in each region, with a focus on insights and case studies relating to board elections, executive pay, ESG practices, shareholder activism, stewardship and engagement, and other notable trends.

Request Report

2017 Proxy Season Review: Brazil

Glass Lewis’ proxy season reviews provide perspectives on the recent proxy seasons in each region, with a focus on insights and case studies relating to board elections, executive pay, ESG practices, shareholder activism, stewardship and engagement, and other notable trends.

Request Report

Engagement in the United Kingdom and Ireland

In the past year Glass Lewis conducted more than 200 meetings with companies listed on the LSE and Irish Stock Exchange. This paper provides context on the practice of engagement in the UK market, and reflects our observations in discussing the topics of the board of directors, executive remuneration, and the new audit regulatory regime with a wide range of UK and Irish companies. This paper also includes an addendum addressing some of the most frequent questions that we received from companies during our meetings, as well as an overview of changes we made to the application of our UK policy based on the feedback we received from issuers, investors and other stakeholders.

Request Report

Engagement Practices and Gender Diversity in Corporate Japan

This report chronicles the observations and insights resulting from Glass Lewis’ engagement with Japanese corporate issuers during the past 9 months. In particular, it highlights noteworthy topics we discussed beyond typical governance practices; namely shareholder engagement and the promotion of female participation in the workforce. Our findings are based on a subset of the approximately 80 Japanese company engagements we conducted during that period, focusing on 28 issuers across four industries: Construction; Banking; Retail; and Information Technology.

Request Report
(English)
Request Report
(日本語)

“In-Depth”: Linking Compensation to Sustainability

Glass Lewis’ “In-Depth” reports are a series of issue-specific primers intended to provide general background and context regarding the prevailing views of investors, academics, and regulators. This report reviews the growing link between executive compensation and sustainability.

Request Report

“In-Depth”: Proxy Access

Glass Lewis’ “In-Depth” reports are a series of issue-specific primers intended to provide general background and context regarding the prevailing views of investors, academics, and regulators. This report reviews the history and growth of proxy access within the United States market.

Request Report

“In-Depth”: Sustainability Reporting

Glass Lewis’ “In-Depth” reports are a series of issue-specific primers intended to provide general background and context regarding the prevailing views of investors, academics, and regulators. This report provides information about current trends and empirical evidence concerning sustainability reporting.

Request Report

“In-Depth”: Corporate Political Spending

Glass Lewis’ “In-Depth” reports are a series of issue-specific primers intended to provide general background and context regarding the prevailing views of investors, academics, and regulators. This report provides context and background on regulations and trends in corporate political spending in the U.S. market.

Request Report

“In-Depth”: Climate Change

Glass Lewis’ “In-Depth” reports are a series of issue-specific primers intended to provide general background and context regarding the prevailing views of investors, academics, and regulators. This report provides a review of global climate change regulations and attendant risks to companies.

Request Report

“In-Depth”: Independent Board Chair

Glass Lewis’ “In-Depth” reports are a series of issue-specific primers intended to provide general background and context regarding the prevailing views of investors, academics, and regulators. This report reviews academic and investor views on the merits of an independent board chair.

Request Report

“In-Depth”: Natural Gas Extraction

Glass Lewis’ “In-Depth” reports are a series of issue-specific primers intended to provide general background and context regarding the prevailing views of investors, academics, and regulators. This report provides context and background for the growth of natural gas extraction, and examines trends and regulations concerning fracking and other methods and byproducts of natural gas extraction.

Request Report

Minder Initiative

This report provides an overview of the ways in which the largest Swiss companies chose to implement the Ordinance against Excessive Compensation (Verordnung gegen übermäassige Vergütungen bei börsenkotierten Aktiengesellschaften or “VegüV”) and the emerging trends since the Swiss public voted in favour of the so-called Minder Initiative in March 2013.

Request Report

2015 Proxy Season Highlights in the UK

This report provides an overview of key developments in the 2015 proxy season, focusing primarily on companies that comprise the FTSE 350. While executive remuneration and board diversity remained two of the most important governance topics in the UK, a number of other developments contributed to an upward trajectory for shareholder rights this year.

Request Report

CGI Glass Lewis: ASX Listing Rule 7.1A: Much to dilute about nothing?

In this white paper, we examined the impact of ASX Listing Rule 7.1A, which went into effect in August 2012 and gave mid to small cap companies the ability to raise additional equity capital. At the time, some market participants raised concerns with, inter alia, the control and dilution implications the additional authority would bring, especially to retail shareholders who might be shut out of institutional book builds.

Download

Mind the Gap 2014

Mind the Gap: Board Gender Diversity in 2014 is Glass Lewis’ annual review on empirical findings from our research on board gender diversity in 14 different markets. In this report we discuss relevant research, analyze trends regarding the proportion of women on boards and discuss regulatory, policy and market developments on this issue. We also provide information regarding our findings concerning female representation in the boardroom, on key committees and in various sectors of the economy.

Download

Greening the Green 2014

Greening the Green 2014 examines the prevalence of companies linking compensation and sustainability. In addition to our global analysis, we also take an in-depth look at companies the United States, reviewing say on pay vote results, EPA fines as well as the level of board oversight afforded to sustainability issues.

download

Mind the Gap 2013

Mind the Gap: Board Gender Diversity in 2013 looks at the current state of gender diversity in the boardroom in 14 markets.

Download

Sustainability Reporting 2013

Sustainability Reporting: A Glass Lewis Issue Report discusses different sustainability reporting frameworks that have gained popularity of over the last several years and shareholder initiatives aimed at improving the quality of sustainability-related information provided by companies.

Download

Political Contributions 2013

Political Contributions: A Glass Lewis Issue Report discusses the emerging issue of corporate political spending in the context of shareholder engagement. Beginning with a brief history of relevant regulation and how corporate political spending has evolved in recent years, we also discuss related academic research and outline the various initiatives that investors and legislative bodies have undertaken with respect to this issue. Finally, we discusses the various shareholder proposals put forth on this topic in the past several years and our analysis of these proposals.

Download

Greening the Green 2013: Linking Compensation to Sustainability

Greening the Green 2013  discusses the strength and types of the reported links between compensation and sustainability as well as potential reasons for the increase in the prevalence of companies employing links. In addition to our global analysis, we also take an in-depth look at companies the United States, reviewing say on pay vote results, EPA fines as well as the level of board oversight afforded to sustainability issues. We also provide specific examples of companies in various markets that link compensation to sustainability through several case studies.

Download

CGI Glass Lewis: It’s All Relative!

It’s All Relative! reviews trends in the use of performance metrics in S&P/ASX 200 long-term incentive plans over a five-year period. We have used available data to address the following question: has the prevalence of traditional metrics (relative TSR and EPS) used in S&P/ASX 200 long-term incentive plans changed over time? By observing the movement in traditional metrics over time, we have also examined how the use of a variety of other non-traditional metrics have changed over the same period. It’s All Relative!  addresses this question at a macro level, as well as analysing trends relative to both size and sector.

Download

Mind the Gap: Board Gender Diversity in 2012

Mind the Gap 2012 is our second iteration of our annual review of empirical findings of Glass Lewis research on gender diversity in twelve different markets. In this report we analyze quotas, discuss issues such as existing and upcoming legislation, and offer guidance on diversity considerations. We also discuss our findings regarding female representation in the boardroom, on key committees and in various other sectors.

Download

Unearthed 2013: A CGI Glass Lewis Engagement Report

Unearthed 2013 takes a deeper look at a specific portion of the CGI Glass Lewis’ 2012 engagement efforts, which were targeted toward small and mid-tier resources companies based in Western Australia and listed on the Australian Stock Exchange.

Download

Political Contributions 2012

Political Contributions 2012 discusses the emerging issue of corporate political spending in the context of shareholder engagement. Beginning with a brief history of relevant regulation and how corporate political spending has evolved in recent years, we also discuss related academic research and outline the various initiatives that investors and legislative bodies have undertaken with respect to this issue. Finally, Glass Lewis discusses the various shareholder proposals put forth on this topic in the past several years and our analysis of these proposals. The goal of this report is to provide detailed information about corporate political spending so that shareholders can make more informed proxy voting decisions.

Download

Proxy Access 2012: A Glass Lewis Issue Report

Proxy Access 2012 discusses the emerging issue of proxy access in the context of shareholder engagement, beginning with a brief history of proxy access in the United States and how shareholder views and proposals have evolved with respect to this issue.

Download

Pay Dirt: 2012

Pay Dirt: 2012 highlights U.S. companies whose executive compensation practices in the past year exemplified some of the best and worst in corporate America, with the intention of identifying companies with risky compensation practices and excessive executive pay.

Download

Greening the Green 2012

Greening the Green 2012, Glass Lewis’ annual review, explores the link between compensation and sustainability in various markets to determine which companies have chosen to link sustainability metrics to executive remuneration and how this has been accomplished.

Download