In 2021, the number of climate proposals winning majority votes doubled from the previous year, with asset managers playing a substantial role.
In fact, the two largest asset managers, BlackRock and Vanguard, dramatically increased their votes in favour, which Climate Action 100 said helped "propel the historic success". However, BlackRock's position has shifted recently and while some asset managers that Investment Week spoke to seem more steadfast in their commitments to support climate change proposals, the move from the largest asset manager rings true with others and raises concern for the climate agenda. BlackRock's controversial memo Last week (11 May), BlackRock wrote in its Investment Stewardship paper that it was ...
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