BlackRock cuts backing for climate shareholder proposals

By Silla Brush
Published 3 Min Read

BlackRock's name is at the top of its door at the NY headquarters.
Bloomberg

BlackRock reduced its support for shareholder proposals on environmental and social issues for a third straight year, arguing that many of the efforts lacked merit and harmed long-term financial interests while doing little to improve companies.

The world’s biggest asset manager backed 4% of 493 such proposals in the 12 months through June, New York-based BlackRock said in a report Wednesday. That’s down from 7% a year earlier and more than 20% in the same period through mid-2022.

Silla Brush

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