2026 Vote Guides
Global temperatures are likely to exceed 1.5C above pre-industrial levels in the next decade, and wealth inequality in the US is at its highest level since World War II. Major companies are driving these system-level risks, threatening the futures and retirement portfolios of millions of Americans.
Investors can work to mitigate these risks through proxy voting this proxy season. Majority Action offers two new vote guides for the 2026 season that focus on the climate risks of the AI data center buildout and the inequality risks of excessive executive compensation.
AI Climate
The fossil-fueled data center boom is intensifying system-level climate and inequality risks.Majority Action’s AI Climate Vote Guide recommends that investors mitigate these risks by voting against responsible directors at key utilities and oil and gas companies that are expanding fossil fuels to power data centers. Building on our recent issuer-by-issuer analysis, we recommend director no-votes at companies that are expanding gas-fired generation and delaying coal retirements to power data centers while dropping climate commitments and lobbying against Paris-aligned goals.
Inequality-Pay Ratio
Inequality is a serious and growing system-level risk to long-term, diversified investors. Excessive executive compensation and intra-firm power disparities are a primary driver of system-level inequality risk as well as company-specific human capital risks. Majority Action’s 2026 Inequality-Pay Ratio Vote Guide recommends that shareholders mitigate these risks by voting against say-on-pay proposals at S&P 500 companies with extreme CEO pay ratios that are widely misaligned with those of their peers.