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

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...