BlackRock's support for shareholder proposals on environmental and social issues has plummeted to a new low, now representing less than one-tenth of the backing these proposals received in 2021.
According to its annual investment stewardship report covering the period from 1 July 2023 through to 30 June, the firm only supported 4% (20 out of 593) of proposals put forward by shareholders on climate and natural capital and company impacts on people. This was down from 7% (30 out of 455) in the prior year, and significantly lower than the 47% high in 2021, at the height of the ESG investing boom. BlackRock CEO Larry Fink drops use of term 'ESG' BlackRock's global head of investment stewardship Joud Abdel Majeid said the firm found that most of these proposals were "overreachi...
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