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? BlackRock Voting & Engagement Record. Dec 16, 2020 By Nicholas Pratt. INVESTMENT COMPANY . At the time of writing, BlackRock and State Street had already posted their complete vote records through the end of June 2021 and Vanguard had published its vote record through the end of March 2021. BOSTON, Oct 8 (Reuters) - Five Democratic U.S. senators on Thursday asked BlackRock Inc to justify . I recommend voting in advance. BlackRock's funds. BIS voted at more than 17,000 shareholder meetings, casting more than 165,000 votes on behalf of our clients in 71 voting markets.". Morningstar's Cook thinks this is a more likely conflict than 401(k) plan management, or other ideas cited for the poor voting record, such as fears that BlackRock and Vanguard could lose access . The companies that BlackRock took voting action against during the 2020 proxy season came from a mix of industries, though energy dominated that cohort with 37 companies, according to the report. BlackRock uses its voting power to support environmental and social issues. Despite its record, BlackRock recently announced it would join Climate Action 100 . It is updated quarterly until June 30 each year, when it is superseded by BlackRock's annual Form NPX filing. BIS voted at more than 17,000 shareholder meetings, casting more than 165,000 votes on behalf of our clients in 71 voting markets.". To access this article please sign-in below or register for a free one-month trial. BlackRock's 2021 Investment Stewardship Annual Report (pdf), released this week, summarises the firm's stewardship engagement and voting record for the reporting period 1 July 2020 to 30 June 2021. Vote FOR Convert to Public Benefit Corporation. TIME IS RUNNING SHORT You recently received proxy materials relating to the fund merger proposals to be voted on at the Joint Special Meeting of shareholders of MFL which will be held in a virtual meeting format on February 4, 2022 at 10:30 a.m. (Eastern Time). July 14, 2020. BlackRock aims to take a common view in-house regarding our engagement and voting policies and uses the BIS group to coordinate, communicate and carry out these policies at approximately 17,000 shareholder meetings at which the firm votes each year. Name of Fund: BlackRock MuniHoldings Quality Fund II, Inc. (MUE) Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 BlackRock's voting record clashes with CEO's tough talk on buybacks. 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 . In your January 2020 letter to company chief executives, you wrote: "Over the next few years, one of the most important questions we will face is . BlackRock and other large institutional investors play a role in shaping the global governance agenda. Senator Brian Schatz of Hawaii and signed by four others. The $7.3tn group said it had voted against directors over climate . BlackRock and Vanguard Group have been vocal about using their market weight to influence social issues, including climate change. Proxy Voting Policies for BlackRock Open-End Funds. BlackRock also voted against proposals at seven utility companies, four industrials companies, four materials companies and one financial firm. This report covers BlackRock Investment Stewardship's (BIS) stewardship activities —focusing on proxy voting —covering the period from July 1, 2020 to June 30, 2021, representing the U.S. Securities and Exchange Commission's 12-month reporting period for U.S. mutual funds, including iShares. And BlackRock's voting record on environmental issues as a shareholder has also been questioned. BlackRock reports that, in the 12 months ended June 30, 2021, "BIS held more than 3,600 engagements with more than 2,300 companies. great triumphs of modern science, multiple vaccines were developed in record time. Name of Fund: BlackRock Investment Quality Municipal Trust, Inc. (BKN) Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Vote AGAINST Ford, Einhorn, Johnson, Mills, Nixon, Domit, Pay, Auditor. London - BlackRock's decision to enable investors to directly engage with underlying companies is set to revolutionise the ESG ETF space while . C onsumers' Research has launched a massive campaign targeting investment giant BlackRock and CEO Larry Fink, accusing them . While recognizing "incremental" improvement in BlackRock's voting record, Majority Action, a nonprofit shareholder advocacy group, said the firm needs to "substantially enhance its voting . However, it materially improved during the 2021 proxy season, when BlackRock supported hedge fund Engine No. New pressure campaign paints BlackRock CEO Larry Fink as China lackey. In the report the world's largest asset manager detailed how it voted during . Five Senate Democrats have called on BlackRock to explain the divergence between its proxy voting record and its commitment to climate action.. That record "appears to contradict your public . It focused on the voting record over the last two years of the Net Zero Asset Managers, the GFANZ subset that includes BlackRock. Proxy Voting Policy BlackRock reports that, in the 12 months ended June 30, 2021, "BIS held more than 3,600 engagements with more than 2,300 companies. The $6.5tn fund manager's voting record at annual meetings has been closely scrutinised following chief executive Larry Fink's letter to companies in January, where he announced BlackRock . BlackRock's voting record on ESG proposals appears to be one reason why, as indicated in this press release, As You Sow submitted a shareholder proposal to BlackRock asking for a report on how the company plans to fully implement the new BRT Statement. "The voting record that we've seen from BlackRock this year is discouraging," Christianson said, noting an apparent "disconnect" between BlackRock's actions and earlier statements that implied it . New York, NY - Today, BlackRock released a new investment stewardship report. By Reuters Staff. Although BlackRock, which manages assets valued at over $9 trillion, and its CEO, Laurence Fink, have long played an outsized role in promoting corporate sustainability and social responsibility, BlackRock has also long been a target for protests by activists. But when push comes to shove—voting on climate-related shareholder resolutions at companies' annual meetings—BlackRock's voting record is mixed. Proxy Voting Policies for BlackRock Closed-End Funds. According to BlackRock's stewardship report, the $7.3tn asset manager voted against 728 directors for overboarding during the 2020 proxy . We highlight some key insights and trends below. iShares Proxy Information. Our voting record for that period can also be found on the BlackRock website. the 1980s and even with record growth over the last few years, it's still in early innings. May 26 (Reuters) - Blackrock Inc: * Shareholder proposal regarding proxy voting record on executive compensation not approved - SEC filing Source text ( bit.ly/2rYSrwN ) Further company coverage: We go on to examine the proxy voting record of the Big Three on shareholder and management resolutions at Carbon Major AGMs across four key areas: environmental governance, buybacks and dividends, director elections and executive remuneration Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: John Perlowski, Chief Executive Officer, BlackRock Municipal Income Trust II, 55 East 52 nd Street, New York City, NY 10055. Proxy Voting Guidelines. One aspect of BlackRock's voting record stands out: its opposition to shareholder resolutions that would improve disclosure of election spending and lobbying, including through trade associations. BIS is responsible for coordinating, communicating, and carrying out these policies across 85 markets and approximately 17,000 shareholder meetings at which the firm votes each year. The official U.S. Senate website of Senator Brian Schatz of Hawaii Investment Company Act file number: 811-07354. In many cases, these firms vote on behalf of the institutional . Does BlackRock make its proxy voting record publicly available? Senate Democrats question BlackRock climate proxy voting record . BlackRock's overall voting history has gotten better, having supported 40% of total assessed resolutions in 2021, up from 12% in 2020 and 7% in 2019, and placing the firm's record ahead of rivals such as Vanguard Group and State Street Global Advisors. BlackRock strives to take a common approach to all of our engagement and voting policies and practices globally. You are receiving this REMINDER notice because you held shares in MFL on the record date and we have not received your vote. Additionally, we disclose our voting record on a quarterly basis on our website. But now, if they so choose, some institutions will be able to conduct those . New investment stewardship report shows BlackRock's voting record falls short of its rhetoric and the urgency of the crisis. ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY . Yes. In fact, BlackRock supported 96% of directors at S&P 500 oil & gas, electric power, and financial services companies during this year's shareholder season. And BlackRock, Vanguard, and State Street control about 25% of the U.S. equity market and vote proxies on behalf of millions of investors. Let's look at the voting record of the largest ESG funds and then look at how smaller active ETFs are leveraging proxies for good. Blackrock's restoration of proxy voting by shareholders is a step toward better corporate governance. BlackRock falls short on 2020 climate votes. BlackRock pushed back against the criticism, arguing shareholder resolutions were just one option available to asset managers. 1 Min Read. BlackRock's voting record in 2021 didn't look much better. According to Ceres and FundVotes, a unit of Morningstar, BlackRock had among the worst voting records on climate issues. BlackRock, the world's largest asset manager, has ratcheted up pressure on company executives holding multiple boardroom positions, voting against a record number of directors for overboarding this year. BlackRock's voting record clashes with CEO's tough talk on buybacks Read full article The BlackRock logo is seen outside of its offices in New York January 18, 2012. BlackRock flexes its muscles during the 2020-21 proxy period. Journey to power: The history of black voters, 1976 to 2020. Blackrock is a huge part of the swamp Other info on Donilon at the link: The Chairman of the BlackRock Investment Institute is Tom Donilon, President Obama's former National Security Advisor (before Susan Rice), and a key advisor to Joe Biden throughout his career in politics. BlackRock's overall voting history has gotten better, having supported 40% of total assessed resolutions in 2021, up from 12% in 2020 and 7% in 2019, and placing the firm's record ahead of rivals such as Vanguard Group and State Street Global Advisors. NRPLUS MEMBER ARTICLE B lackRock is making history with an innovative policy change: It will . The outside pressure has been on. (BlackRock sought to exclude the proposal on the basis of Rule 14a-8(i)(7), the ordinary business exclusion, but the SEC, without . To enhance long-term value. BlackRock's climate change credentials 'full of greenwash' Hedge funder Sir Christopher Hohn attacks BlackRock's voting record on climate-related shareholder resolutions as "appalling".

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