Engine No. 1 is planning to launch an exchange-traded fund that will focus on socially conscious investing, according to an SEC filing. The Engine No. 1 Transform 500 ETF will seek to “encourage transformational change at the public companies within its portfolio through the application of proxy voting guidelines [...] that are based on a commitment to protecting and enhancing the value of its clients' assets and to aligning shareholder and stakeholder interests through favoring actions that encourage companies to invest in their employees, communities, customers and the environment”. Last week the investment firm’s campaign to ‘refresh’ the board of Exxon resulted in at least two of the activist fund’s four nominees winning board positions at the US oil giant.
The SEC has said it will not enforce Trump-era rules on proxy advisors. SEC Head Gary Gensler said in a statement that he has asked the Commission’>?statement that he has as