Investor Activism Hits Record High With 61 Campaigns This Quarter

Activist investors had their busiest quarter in history

Activist investors launched a record number of new campaigns in Q3, with 61 new campaigns, up sharply from 36 a year earlier. Barclays’ new data show that activism is accelerating globally, with a 90% quarter-on-quarter increase in the U.S. as firms seized market disruptions to press for operational changes, board seats, and M&A outcomes. Year-to-date figures indicate nearly 191 campaigns targeting 178 companies, with activists securing 98 board seats and driving approximately 25 CEO departures thus far. For ESG-minded investors and corporate boards, the record underscores the intensifying scrutiny on strategy, capital allocation, and governance. 

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Further reading: Activist investors had busiest quarter ever, launching 61 campaigns

Nominee firms mask the major banks profiting from Australian fossil fuels

A new analysis from Global Energy Monitor reveals that nominee companies, often subsidiaries of major global banks, are being utilized to conceal the ultimate owners of stakes in Australian fossil fuel companies. Nominees are registered shareholders for 51 projects tied to roughly 22 million tonnes of CO₂ emissions annually. The investigation found that bank-linked nominees hold significant stakes in companies such as Origin Energy, Whitehaven Coal, and AGL. The arrangement obscures who benefits from coal and gas revenues, complicating investor scrutiny, stewardship engagement, and regulatory oversight. A public beneficial-ownership register and stronger disclosure rules are simply ways to restore transparency and hold financiers accountable for their exposure to fossil fuels.

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Further reading: Corporate ‘middlemen’ mask who really profits from Australian fossil fuel projects, report warns

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UK Conservative leader pledges to replace the Climate Change Act

Conservative leader Kemi Badenoch announced plans Wednesday to replace the UK’s Climate Change Act, the backbone of Britain’s net-zero framework. The party leader proposed an energy policy plan that prioritizes lower consumer costs and expands North Sea oil and gas production. The pledge, part of a political repositioning ahead of a pivotal party conference, has triggered fierce pushback from business groups, senior Conservatives, and climate scientists who warn that scrapping the Act would reverse decades of bipartisan progress and undercut investor certainty. This potential move risks alienating centrist voters and damaging the UK’s climate leadership. 

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Further reading: Badenoch pledges to ditch flagship UK climate change law

Pakistan’s rooftop solar growth tests the government

Pakistan’s rapid rollout of rooftop solar, driven by households and small businesses seeking relief from power cuts and high electricity bills, is straining the nation’s electricity financing model. As more consumers generate their own power, government collections fall, and the state struggles to service energy sector debt. Policymakers have proposed levies on panel imports (an initial 18% proposal was later halved after public disapproval) and considered reducing feed-in payments for surplus exports, measures that risk stalling uptake. Despite short-term fiscal pressure, analysts predict that solar growth will continue. Pakistan imported $1.5 billion of panels this year and may reach around 25 GW of distributed capacity, amplifying the need for policy reforms to rebalance incentives and grid finance. ESG solutions can help corporations stay updated on key regulations. 

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Further reading: Pakistan’s Solar Boom Faces Ire From Debt-Strapped Government

Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — In the Cover Photo: Office meeting in Montreal, Canada. Cover Photo Credit: charlesdeluvio