BlackRock’s New Focus: Governance Over Environmental and Social Issues

Publiktoday.com BlackRock, one of the world’s largest asset managers, has significantly reduced its support for shareholder proposals focused on environmental and social issues. In the past year, the company only backed 4% of these proposals, down from 7% the previous year and over 20% two years ago. This decline is mainly due to concerns about the quality and relevance of the proposals to long-term shareholder value. Meanwhile, BlackRock supported more governance-related proposals, indicating a shift in priorities. Additionally, the report highlighted that none of the anti-ESG proposals were supported by BlackRock, despite an increase in their number.

Overall, BlackRock's actions suggest a more cautious approach to environmental and social issues, focusing instead on governance and shareholder value. Read More at Pensions & Investments