BlackRock, Vanguard block climate motions

Climate protest against BlackRock 2019 from PA 16Jan20 230x150
By Jon Hay
03 Dec 2020

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.

Though very large and sophisticated, the 'Big Three' are far behind most other leading asset managers in supporting motions, which most firms pursuing responsible investing believe are a useful way to influence company behaviour.

Because of their huge size — the three are now responsible for 25% of ...

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