As of June 15, 2025, over 230 environmental and social (E&S) shareholder resolutions and over 240 governance resolutions have appeared on U.S. company ballots this year. Governance-related resolutions represent a majority of shareholder proposals on ballot, relative to E&S-related proposals, reversing the trend of E&S proposals predominating since 2022. Proxy season 2025 has continued the precipitous decline in average shareholder support levels for E&S resolutions, concurrent with a low number of resolutions receiving majority support. A continued increase in so-called “anti-ESG” proposals has also been observed. This summary recaps key shareholder proposal trends in this year’s U.S. proxy season.