Last week investment behemoth Blackrock, which has increasingly sought to push its sustainability credentials, published its latest investment stewardship report, revealing that it took “voting action” this year against just 53 companies over climate risk and put another 191 firms “on watch”.
Among the companies let off the hook are Australian oil & gas firms Woodside and Santos. The investment giant has revealed it did not support Paris-aligned target proposals at either, finding itself on the wrong-side of record breaking votes, including majority support for the proposal at Woodside.
Blackrock also revealed in a recent voting bulletin that it opposed Asia’s first ever climate resolution, which called on Japanese banking group Mizuho to publish a plan to align its coal heavy financing with the goals of the Paris Agreement. The proposal received significant support (34.5%), with large European and US asset owners lining up behind it.