11.2 C
New York
Wednesday, November 30, 2022

Don't miss

Blackrock: halves support for environmental and social resolutions

- Advertisement -

Barilla: in Italy 100% of packaging is recyclable (ANSA)

(ANSA) – MILAN, JUL 26 – In the 2022 shareholders ‘meeting season, Blackrock, the most asset manager in the world, with 8.5 trillion assets under management, almost halved its support at the shareholders’ meeting for the proposals made by shareholders on environmental and social issues, supporting only 24%, compared to 43% supported the previous year. A slowdown justified by the overly “prescriptive” character and not very attentive to the financial performance of the proposals, which therefore made them “hardly supportable”.

“In the US, we have seen a 133% increase in the number of shareholder environmental and social (E&S) proposals, many of them more prescriptive than in previous years,” notes Blackrock in the report in which he analyzes his voting choices in 2022. “Not only that, many climate-related proposals have tried to dictate the pace of energy transition plans despite persistent consumer demand, with little regard to the company’s financial performance. Others have failed to understand that companies have already expanded. satisfied their requests “.

Overall, the E&S proposals voted in the US companies, Blackrock says analyzing the ISS data, attracted the support of 27% of shareholders, compared to 36% the previous year, demonstrating the “measured and substantive approach” taken by the investors in the evaluation of proposals. Blackrock “took a case-by-case approach and voted to advance clients’ long-term financial interests,” said the manager, who has received criticism from some Republican circles in the US for an alleged promotion of progressive capitalism. (woke capitalism) willing to sacrifice profits and jobs. (HANDLE).

- Advertisement -

Source: Ansa

- Advertisement -

Latest Posts