BlackRock votes against 49 companies for lack of climate crisis progress
(The Guardian, 17 Sep 2020) World’s largest asset manager reveals votes against directors on environment issues.
BlackRock, the world’s largest asset manager, has disclosed that in the past year it has voted 55 times against directors at 49 companies for failing to make progress on tackling the climate crisis.
The firm announced its sustainability focus in January, when it said it would be getting tough on companies that did not meet its expectations on dealing with climate risk, and would vote against them at annual shareholder meetings.
It announced in its annual investment stewardship report that it cast more than 5,100 votes against company directors in the past 12 months to hold management to account for failing to make headway on a range of issues, from environmental goals and corporate strategy to board diversity. This was 300 more than in the previous year.