Is US mutual fund giant BlackRock’s voting record on climate change shareholder resolutions finally going to match up with its public statements on climate change? It seems that, this year, they may actually align.
It has been a process.
In March last year, US SRI investment houses Mercy Investments and Boston Trust Walden withdrew a resolution calling on BlackRock to conduct a review of its 2019 proxy voting record on climate-related resolutions, comparing them with its public statements on climate change. The two were seen as inconsistent. But, because of a number of actions the company took – including joining shareholder engagement network Climate Action 100+ – the two firms agreed to take the resolution off the proxy statement for 2020.
A similar withdrawal occurred at JPMorgan for the same reasons. Except that at JPMorgan, the bank’s voting record did seem to change. Last May, RI looked at BlackRock’s voting record thus far (on ESG …