BlackRock warrants a spot on its climate watchlist

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BlackRock voted against 53 companies for environmental missteps in the past 12 months and put 191 more on notice. It’s much better than the previous year, but the $6.5 trillion asset manager’s own role needs monitoring too, writes gfhay:

BlackRock said on July 14 that it had “taken voting action” against 53 of the 244 companies it had identified earlier this year as making insufficient progress on integrating climate risk into their business models or disclosures.

It placed the remaining 191 companies “on watch” and would vote against management at 2021 annual meetings if they did not make sufficient progress. Separately, almost a quarter of respondents to a BNP Paribas Asset Management study published on July 13 said that environmental, social and governance issues have become “more of a focus/more important” as a result of the Covid-19 crisis. In addition, 70% of respondents said they expect social considerations to become extremely or very important in the future.

 

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