The New York City comptroller has accused the $14.7 trillion asset management group of giving in to a war against environmental, social and governance causes.
| Liberal-leaning US pension fund leaders and politicians have warned BlackRock and other big asset managers against backtracking on their commitment to environmental, social and governance causes, after a sharp drop in support for shareholder proposals at annual meetings.
BlackRock denies the criticism influenced its voting record. Investor support for shareholder proposals has fallen across the board since a rule change in 2021 made it harder for companies to block their inclusion on proxy ballots. However, the decline at BlackRock has been particularly sharp.
“We understand that there are years where there are lower-quality proposals, but if this becomes a trend over multiple years, then we’ll be concerned,” Mr Frerichs added. BlackRock declined to comment on its relationships with New York City and other clients. But it said: “Our proxy voting decisions are made solely to advance the financial interests of our clients. For clients who would like to play a more active role in proxy voting themselves, we also have led the industry in providing them that option through our Voting Choice initiative.”
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘There’s a huge problem’: New Zealand searches for new ways to tackle family violenceMental health apps focusing on personal history part of a wider push to support men and address high rates of family harm
Read more »
Wired differently: how neurodiversity adds new skillsets to the workplaceFrom the arts to the law, employers are seeing conditions such as autism and ADHD can have more benefits than drawbacks
Read more »
Former priest Neville Creen rearrested on new charges hours after prison releaseThe 83-year-old will face charges for 16 counts of indecent treatment of a boy under 14.
Read more »
Shoplifters’ revenge the new worry for retailersSelf-service checkouts and fewer staff on the shop floor have contributed to a rise in shoplifting which is denting profits.
Read more »
Jones names new Wallabies captain as star earns big re-callJones names new Wallabies captain as star earns big re-call
Read more »
‘The new homophobia’: Lesbians born female forced ‘underground’LGB Alliance Australia Nicole Mowbray says today’s lesbians are facing a new form of “homophobia” as women born female are unable to legally hold single-sex events. Her comments come as Melbourne lesbians apply to The Human Rights Council for permission to hold an event for women born female only. “We’ve been organising underground for twenty years now – we haven’t been able to meet in a public event as a single-sex thing,” Ms Mowbray told Sky News host Rita Panahi. “We’re basically sick of being underground.”
Read more »