Revealed: US asset management giants lead pro-climate proxy voting worst performers

Capital Group, T. Rowe Price and BlackRock register worst records

Asset management giants Capital Group, T. Rowe Price and BlackRock have been revealed as the three worst-performing asset owners with regard to climate-related proxy voting, according to a report by campaign group ShareAction.

The report, Voting Matters, demonstrates that US groups are lagging European counterparts in forcing positive climate action from companies they invest in, which ShareAction said is "highly concerning" given 35% of global AUM resides within the 20 largest US fund managers. Can artificial intelligence fix ESG rating shortfalls? ShareAction found that over the last two years Capital Group has voted in favour of just 4.9% of climate-related shareholder votes associated with companies it invests in, while T. Rowe Price and BlackRock registered 5.5% and 6.7% respectively. J.P. Morgan, V...