During the 2011 proxy season, social and environmental proposals -- such as those calling for information on a company's employment diversity, or for an evaluation of its financial risks from climate change -- accounted for two of every five initiatives, up from 30% a year earlier, according to .

But even this year's rise to 40% was short of E&Y predictions, which held that half the proposals might relate to elements of what some call "the triple bottom line." That term refers to the financial, social and environmental measures that management critics often site as being overlooked in determining broader corporate performance. As the accountancy explains it, a number of proposals were dropped after proponents resolved the resolutions with ever-more-willing corporate executives.

"Companies that really get this," says Ann Brockett, E&Y's leader on climate change and sustainability for the Americas, "see dealing with these issues as a compelling business imperative, versus just a response to a request for information."

It was a dramatic annual meeting season in several ways. In addition to the evolution of social and environmental issues, and their reception by managements, proxy-access rules went through serious revisions after . (See "Meeting-Season Lessons, Part Two," later this week on CFOworld.)