Reported about 2 months ago
BlackRock has decreased its backing for environmental and social shareholder proposals for the third consecutive year, claiming that many lack merit and do not enhance long-term financial interests. In the past year, the firm supported only 4% of 493 such proposals, down from 7% the previous year. Despite this decline, BlackRock increased its support for corporate governance proposals, reflecting a shift in its investment focus. The firm noted that many proposals were overly prescriptive and unnecessary, indicating a broader trend of reduced support for ESG-related initiatives across the investment industry.
Source: YAHOO