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BlackRock turned down record number of climate proposals amid inflation, ESG pushback

Posted on AllSides August 23rd, 2023
From The Right
Reuters/Lucas Jackson/File Photo / Reuters Photos

BlackRock, the world's largest asset manager, voted against the vast majority of shareholder proposals related to climate and social issues during the 2022-2023 proxy voting season, the company reported Wednesday.

Overall, BlackRock turned down 742 of the 813 proposals it voted on and 373, or 93%, of the social and climate proposals it faced, according to the company's 2023 Investment Stewardship report published Wednesday morning and shared with FOX Business. The trillion-dollar asset manager explained that it has seen a higher number of low-quality shareholder proposals, largely due to federal...

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