Climate voting policies: Will other asset managers follow BlackRock's lead?

Fiduciary duty

Kathleen Gallagher
clock • 6 min read
According to nonprofit Ceres, BlackRock supported 10% of climate policies in 2020 and 41% in 2021
Image:

According to nonprofit Ceres, BlackRock supported 10% of climate policies in 2020 and 41% in 2021

In 2021, the number of climate proposals winning majority votes doubled from the previous year, with asset managers playing a substantial role.

In fact, the two largest asset managers, BlackRock and Vanguard, dramatically increased their votes in favour, which Climate Action 100 said helped "propel the historic success". However, BlackRock's position has shifted recently and while some asset managers that Investment Week spoke to seem more steadfast in their commitments to support climate change proposals, the move from the largest asset manager rings true with others and raises concern for the climate agenda. BlackRock's controversial memo Last week (11 May), BlackRock wrote in its Investment Stewardship paper that it was ...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

Kimberley Lewis, head of active ownership at Schroders
ESG

Schroders: Why we are against Sainsbury's becoming Living Wage-accredited

AGM on 7 July

Kimberley Lewis
clock 27 June 2022 • 4 min read
The worst contender dropped 166%, with its flows going from net positive to net negative
ESG

Morningstar figures reveal drop in recently ESG rebranded funds flows

Worst fund saw 166% drop

Kathleen Gallagher
clock 24 June 2022 • 5 min read
The UK Infrastructure Bank just surpassed its one year anniversary
ESG

UK Infrastructure Bank to move away from investing through fund managers - reports

Chief executive has come under pressure

Elliot Gulliver-Needham
clock 23 June 2022 • 2 min read
Trustpilot