A study examining how often asset managers vote in accordance with climate goals has singled out BlackRock Inc. and State Street Corp. for consistently blocking green resolutions.
BlackRock, the world’s largest investment manager, supported just two of 20 climate resolutions in 2023 that were analyzed by ShareAction, the London-based nonprofit, which is due to publish its full report on the subject on Thursday, told Bloomberg. State Street, the third-biggest asset manager, backed less than half the green measures proposed at shareholder meetings, the study found.
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