Reported about 2 months ago
BlackRock, the largest asset manager globally, has significantly decreased its support for environmental and social shareholder proposals during the latest annual general meeting season, backing only 4% of the 493 proposals, compared to 6.7% the previous year. The firm cited a lack of economic merit and redundancy in many proposals as reasons for their stance, while their overall support for shareholder resolutions rose slightly to 11%. Notably, BlackRock did not support any of the 88 proposals aimed at reversing sustainability measures.
Source: YAHOO