In a letter from investors and shareholders to BlackRock’s CEO, Larry Fink, Boston Common’s Lauren Compere says:
“This proxy season we hope to see BlackRock take action to back their words by voting with climate resolutions and publicly supporting climate change-related initiatives rather than just opting for private “engagement” conversations. As a passive investor they are vastly underutilizing their proxy voting ‘assets’. Arguably, they are not fully executing their fiduciary duty by not voting in favor of shareholder resolutions aligned with their own expectations that ‘carbon intensive sectors move rapidly towards adopting business strategies compliant with the Paris Goals’.”
