BlackRock, Vanguard block climate motions

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BlackRock, Vanguard block climate motions

Climate protest against BlackRock 2019 from PA 16Jan20 230x150
Young activists and protesters gather in front of investment firm BlackRock's office in San Francisco, California, United States on Friday, December 6, 2019, as they advocate the company to invest in green energy and divest fossil fuel. The climate strike protest movement is inspired by Greta Thunberg, the teenage environmental activist, who has arrived in Madrid on the morning of Friday, December 6, 2019, to participate in a march in the Spanish capital, which is currently hosting the United Nations climate summit known as COP25. (Photo by Yichuan Cao/Sipa USA) | Yichuan Cao/SIPA USA/PA Images

Three of the biggest asset managers, BlackRock, Vanguard and State Street, are still voting against most shareholder motions on climate change, human rights and other sustainability issues, despite their insistence that they take environmental and social matters seriously. Often their ‘no’ votes are decisive in blocking resolutions — even though most are only asking for better disclosure.

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