NYC Pension launches another box-ticking exercise

Is this just another box-ticking exercise? What would happen if every fund manager starts shooting off these questionnaires to any and all companies it has holdings in? Would the system survive this onslaught? I am sure that it would not as 1000s of companies would have to reply to 1000s of approaches, and not just once but the corporate governance crowd would want to have its piece of flesh every year!
I think the only way something like this could work if there are clear rules and an easy way to monitor them.

Join the Debate! Or is Corporate Goverance just for Show?

NYC Pension Funds Boardroom Accountability Project Version 2.0