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Southern shareholder proposals 2026
What shareholders asked Southern to do, and how the funds holding Americans’ retirement savings voted on it: the funds in the 401(k) plans we index and the most widely held funds beyond them, with the filing behind every vote.
13 May 2026 · put on the ballot by shareholder · Climate & environment
Should Southern publish a fuller account of its emissions and how it plans to cut them?
Shareholders asked the company to disclose its greenhouse gas emissions more completely, or to have its reduction targets independently assessed, so that the plan can be checked rather than taken on trust.
“Stockholder proposal regarding a report on climate due diligence”
0 of 12 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| American Funds IS 2025 Target Date Retirement Income Fund | AGAINST | 21,796,121 |
| American Funds IS 2020 Target Date Retirement Income Fund | AGAINST | 21,796,121 |
| American Funds IS 2015 Target Date Retirement Income Fund | AGAINST | 21,796,121 |
| American Funds 2025 Target Date Retirement Income Fund | AGAINST | 21,796,121 |
| American Funds IS 2010 Target Date Retirement Income Fund | AGAINST | 21,796,121 |
| American Funds 2010 Target Date Retirement Income Fund | AGAINST | 21,796,121 |
| American Funds 2020 Target Date Retirement Income Fund | AGAINST | 21,796,121 |
| MFS Value Fund | AGAINST | 8,259,140 |
| Franklin Utilities Fund | AGAINST | 4,000,000 |
| T. Rowe Price Equity Income Fund | AGAINST | 3,620,000 |
| T. Rowe Price Large-Cap Value Fund | AGAINST | 497,528 |
| Utilities Fund | AGAINST | 157,195 |
The same proposal was put to NVIDIA, Amazon.com, Alphabet, Meta Platforms, Verizon Communications, JPMorgan Chase.
13 May 2026 · put on the ballot by shareholder
Should the person who runs Southern also chair the board that supervises them?
Shareholders asked the company to require that the chair of the board be an independent director rather than the chief executive, so that the body overseeing management is not led by the person being overseen.
“Stockholder proposal regarding independent board chairman”
1 of 3 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Franklin Utilities Fund | FOR | 4,000,000 |
| T. Rowe Price Equity Income Fund | AGAINST | 3,620,000 |
| Utilities Fund | AGAINST | 157,195 |
The same proposal was put to Amazon.com, Exxon Mobil, Wells Fargo, Verizon Communications, PepsiCo, Chevron.
13 May 2026 · put on the ballot by shareholder
Should the person who runs Southern also chair the board that supervises them?
Shareholders asked the company to require that the chair of the board be an independent director rather than the chief executive, so that the body overseeing management is not led by the person being overseen.
“Stockholder proposal regarding independent board chairman”
0 of 6 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| iShares MSCI USA Min Vol Factor ETF | AGAINST | 3,632,548 |
| Blackrock Lifepath Index 2035 Fund | AGAINST | 3,013,506 |
| Blackrock Lifepath Index 2030 Fund | AGAINST | 3,013,506 |
| Blackrock Lifepath Index 2040 Fund | AGAINST | 3,013,506 |
| Blackrock Lifepath Index 2045 Fund | AGAINST | 3,013,506 |
| Blackrock Lifepath Index Retirement Fund | AGAINST | 3,013,506 |
The same proposal was put to Amazon.com, Exxon Mobil, Wells Fargo, Verizon Communications, PepsiCo, Chevron.
13 May 2026 · put on the ballot by shareholder · Climate & environment
Should Southern publish a fuller account of its emissions and how it plans to cut them?
Shareholders asked the company to disclose its greenhouse gas emissions more completely, or to have its reduction targets independently assessed, so that the plan can be checked rather than taken on trust.
“Stockholder proposal regarding a report on climate due diligence”
0 of 3 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| iShares MSCI USA Min Vol Factor ETF | AGAINST | 3,632,548 |
| iShares Core High Dividend ETF | AGAINST | 2,178,049 |
| The MidCap Value Fund | AGAINST | 4,720 |
The same proposal was put to NVIDIA, Amazon.com, Alphabet, Meta Platforms, Verizon Communications, JPMorgan Chase.
13 May 2026 · put on the ballot by shareholder · Climate & environment
Should Southern report what its data centres do to its climate commitments?
Shareholders asked for a report on the electricity and water its data-centre build-out consumes, and on whether the growth in that demand can be squared with the emissions targets the company has already committed to.
“Stockholder proposal regarding a report on data center costs”
0 of 1 funds we track voted for it.
| Fund | Vote | Shares voted |
|---|---|---|
| Franklin Utilities Fund | AGAINST | 4,000,000 |
The same proposal was put to Amazon.com.
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