Today, NorthStar released its 2025–2026 Activism Report, Showing Up Louder, chronicling a year of shareholder advocacy spanning environmental justice, human rights in the age of AI and remilitarization, immigrant rights, shareholder democracy, and actions in defense of vulnerable communities.
The report arrives amid a sustained, escalating campaign against the right of shareholders to file proposals with the companies they own. Over the past year, the Securities and Exchange Commission (SEC) — once the referee between companies and filers — has priced smaller investors out of the room and handed companies new tools to block proposals on emerging issues, all against a broader corporate retreat from environmental, social, and governance (ESG) and diversity, equity, and inclusion (DEI) commitments.
“When companies and regulators try to shrink the shareholder’s voice, we show up louder,” said Madison Krieger, Analyst at NorthStar Asset Management. “However the rules shift, we’ll keep pushing for long-term, lasting change.”
For more than 35 years, NorthStar has treated responsible investing not as a label but as a discipline — one that depends on the health of the communities and systems its portfolio companies operate within. That conviction shapes every engagement: the firm starts with the people closest to the harm — workers, families, community organizers, and human rights experts — and carries their demands into the boardroom through direct dialogue, proxy voting, shareholder proposals, and coalitions with fellow investors. Social responsibility, as NorthStar sees it, isn’t a label — it’s a fight.
In this report, you will find a year of that work in action — impact achieved not through any single lever but through many working in concert. NorthStar carried proposals all the way to shareholder votes and drew record levels of independent support; won binding commitments from companies that chose to negotiate in good faith; brought the voices of directly impacted people to the microphone at annual meetings; mobilized investor coalitions; and used letters, proxy votes, and public advocacy to move companies even where the formal proposal process was blocked. Together, these tactics turned shareholder pressure into concrete corporate change.
To dive deeper into our work, check out NorthStar’s 2025–2026 Activism Report available at: https://northstarasset.com/wp-content/uploads/2026/08/2025-2026-Social-Change-Activism-2.pdf.
About NorthStar Asset Management
NorthStar Asset Management, Inc. is a wealth management firm based in Boston with a focus on socially responsible investing. Founded in 1990, NorthStar uses shareholder activism to drive corporate accountability while managing portfolios for individuals, families, and institutions. The firm is a certified B Corporation, employee owned, and UN PRI Signatory.
Advisory services offered through NorthStar Asset Management, Inc., a registered investment adviser. Registration does not imply any level of skill or training. All investing involves risk, including the possible loss of principal. This material is for informational purposes only and does not constitute personalized investment advice or a recommendation or solicitation of any particular security, strategy, or investment product. Forecasts, opinions, and estimates reflect NorthStar’s judgment as of the date of this release and are subject to change without notice. Third-party statistics are believed to be reliable but have not been independently verified.
NorthStar Asset Management, its employees, and/or client accounts own securities of the company that is subject to the shareholder proposal discussed in this press release. Such ownership may create actual or perceived conflicts of interest. NorthStar believes that continued ownership of the issuer’s securities enables it to engage constructively with management and exercise shareholder rights. Any decision regarding engagement with, support for, co-filing of, or voting on any shareholder proposal is made in accordance with NorthStar’s fiduciary obligations and applicable proxy voting policies designed to mitigate material conflicts of interest, with the overall objective of acting in the best interest of clients.
Additional information regarding NorthStar, including fees, expenses, and risks of investment, is contained in NorthStar’s disclosure documents and should be reviewed carefully and can be accessed via https://adviserinfo.sec.gov/
For more information, visit northstarasset.com or email investforchange@northstarasset.com