You can always decide to pick an ETF that doesn't invest in the companies you don't like, or invest in individual stocks if you have the time and stomach for it.
I'm saying it's how the world works. The majority of pension funds (public or private) and 401k plans are simply passive index funds with nearly no direct voting rights (and at best very limited, indirect voting rights).
That’s completely wrong.
Most 401k plans have by far more active fund options than passive fund options. Notwithstanding, more and more dollars are tilting towards the passive index funds, i.e. through consumer choice.
Where do you get your information from?
https://finance.yahoo.com/news/passive-etfs-hit-tipping-poin...
Sometime last year, passive funds overtook active funds.
More money is in passive now than active. On a dollar basis, there are fewer votes purchased dollar for dollar.
Even then, active funds don't always offer proxy vote services so I'm not sure wtf active has to do with my original point: that investors today don't seem to give a rats ass about the vote.